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Drivers Of Lyft, Uber Plan Strike Ahead Of Uber IPO

New York cab drivers affiliated to rideshare apps Uber and Lyft are likely to strike work next week by logging off from the apps for a couple of hours as per a recent announcement by Taxi Workers’ Alliance of New York. It is being said that car drivers affiliated to these apps in cities like San Francisco and Los Angeles are also likely to follow a similar practice on Wednesday next week. Drivers are using this opportunity to pressurize Uber prior to the launch of its IPO to listen to their demands for job security and livable income.

Uber’s IPO is set for launch on 10th May and drivers belonging to NYTWA which has drivers from both Uber and Lyft want to sort out the issue at the earliest as NY is largest market of Uber. To mark their protest the association’s drivers are also planning on holding a rally outside the Long Island offices of both Uber and Lyft on the strike day. Both firms have established and grown their business on their strong network of drivers but in recent years stiff competition and price wars to attract riders has forced them to undercut drivers’ compensation as both are accumulating millions in losses.

To retain their drivers both have offered drivers that meet certain target thresholds cash bonuses just before launching their IPO’s but it has not appeased their large pool of drivers. They have demanded regulated fares and due to lack of consensus went on to strike just before IPO of Lyft to protest their recent cut in pay. New York is the only city where cab drivers tied up with rideshare firms are assured minimum wages by law as per a directive laid down on 1st February this year. According to this law now drivers should be given $17.22 per hour which equal to $15 minimum wages.

 

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