Strike set for rideshare drivers, casting shadow on Uber IPO | 5/2/2019 | Staff
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Rideshare drivers in major US cities were set to strike Wednesday, casting a shadow over the keenly anticipated Wall Street debut of sector leader Uber.

Organizers in some cities were calling for a 24-hour stoppage while the New York Taxi Workers Alliance, which represents both app and traditional taxi drivers, called on drivers to shut down all apps between 7.00 am (1100 GMT) and 9.00 am.

Organizers - Drivers - Uber - Lyft - Via

The organizers called on drivers for Uber, Lyft, Via and other ride-hailing platforms to stop working as part of the protest.

It was unclear how many drivers would take part in the work stoppage amid strike calls in Los Angeles, Philadelphia, Boston and the US capital city Washington. A similar action was expected in London, according to US organizers.

App - Drivers - Job - Security - End

The app drivers are seeking improved job security including an end to arbitrary "deactivations," and a better revenue split between the drivers and platforms.

In New York, the alliance was expecting most of its 10,000 app drivers to participate in the stoppage as well as some non-members.

Wall - Street - Investors - Uber - Lyft

"Wall Street investors are telling Uber and Lyft to cut down on driver income, stop incentives, and go faster to driverless cars," Bhairavi Desai, executive director of the New York association, said in a statement.

"Uber and Lyft wrote in their (regulatory) filings that they think they pay drivers too much already. With the IPO, Uber's corporate owners are set to make billions, all while drivers are left in poverty and go bankrupt."

Uber - Offering - IPO - Week - Valuation

Uber is set to launch its initial public offering (IPO) this week at an estimated valuation of some $90 billion, including its options and restricted stock unit. The...
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