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Uber’s Founders Have Cashed In. How About the Drivers?

posted by chromas on Wednesday May 22 2019, @05:55AM   Printer-friendly
from the employee-rules-for-contractor-pay dept.

canopic jug writes:

Uber remains unprofitable at the same time its drivers work 80-hour weeks for less than minimum wage and without health care packages. They must also cover vehicle costs including fuel, maintenance, and insurance.

The ride-hailing company Uber has made its long-awaited debut as a publicly traded stock, but investor demand for the May 10 initial public offering (IPO) fell short of the company's hopes. Part of the reason is a lingering question about its workforce: Does the still-unprofitable firm deliver low-cost rides for passengers at the expense of decent treatment for drivers, and could the resulting discontent undermine Uber's business model?

The issue over whether Uber drivers are employees (entitled to company benefits such as sick pay and retirement) or contractors (entitled to nothing) has been at the center of the labor controversy since the company launched a decade ago. It is still largely unresolved.

Earlier on SN:
New Research Confirms That Ride-Hailing Companies Are Causing a Ton of Traffic Congestion (2019)
Uber and Lyft Drivers to go on Strike (2019)
Uber Posts $1 Billion Loss in Quarter as Growth in Bookings Slows (2018)
and quite a few more...

Original Submission

 
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  • (Score: 1, Insightful) by Anonymous Coward on Wednesday May 22 2019, @07:25AM (2 children)

    by Anonymous Coward on Wednesday May 22 2019, @07:25AM (#846083)

    It's amazing how much "news" is manufactured to manipulate stock prices.

    Starting Score:    0  points
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  • (Score: 0) by Anonymous Coward on Wednesday May 22 2019, @07:32AM (1 child)

    by Anonymous Coward on Wednesday May 22 2019, @07:32AM (#846085)

    luftputefartøyet mitt er fullt av åler

    • (Score: 0) by Anonymous Coward on Wednesday May 22 2019, @02:59PM

      by Anonymous Coward on Wednesday May 22 2019, @02:59PM (#846239)

      My møøse is pregnant.