Uber Drivers Set to Protest All Over the World Ahead of the Company’s $90 Billion IPO
Uber and Lyft drivers are logging off journey-hailing apps and taking to the streets in cities around the globe Wednesday to protest in opposition to working circumstances and wages.
The protests come forward of Uber’s anticipated IPO (preliminary public providing) on the New York Inventory Alternate on Friday which may put the trip-hailing agency’s valuation as excessive as $91.5 billion. Within the U.Ok., drivers deliberate a nine-hour boycott of the Uber app from 7:00 a.m. to 4:00 p.m. native time in London, Birmingham, Nottingham, and Glasgow.
Thousands of drivers are additionally anticipated to protest exterior Uber’s London headquarters on Wednesday afternoon. Fares in London had been surging at 1.8x regular charges as of 9:00 a.m. Wednesday morning, however, it’s unclear if the surge pricing was associated with driver availability or wet climate circumstances.
Drivers are additionally anticipated to stage protests in opposition to Uber and Lyft in at the very least eight cities across the U.S., together with New York, Chicago, and San Francisco. In a single day, the strikes kicked off in Australia with Uber drivers in Sydney, Brisbane, and Melbourne staging temporary protests, in line with Australia’s Transport Union.
The London protests have been organized by the United Non-public Rent Drivers Department (UPHD) of the Impartial Staff Union of Nice Britain (IWGB), who say Uber’s executives will profit from the massive IPO whereas drivers stay underpaid. The U.Ok. Drivers are demanding fares to extend to £2 ($2.60) per mile, up from the present fee of £1.25 per mile in London.
The unions additionally need to decrease the cost they pay Uber per journey from 25% to 15%.“Uber’s enterprise mannequin is unsustainable in its dependence upon giant scale employee exploitation, tax avoidance, and regulatory arbitrage,” IWGB stated in an announcement.
Uber and Lyft drivers are categorized as contractors as an alternative of staff, which has exempted them from certain advantages like minimum wage and social safety. Each firm acknowledged of their S-1 filings that figuring out their employees as contractors are essential to their enterprise fashions.