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Technology Stocks : Uber Technologies and Lyft Inc. IPOs

UBER 92.16

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From: Sr K	1/9/2020 12:29:01 AM
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7 days later, it seems the same Uber position Uber Retools California Fares in Response to Gig Economy Law Move is latest change by ride-hailing giant to bolster case that drivers are independent workers wsj.com 7:13 PM ET SAN FRANCISCO— Uber Technologies Inc. retooled the way it calculates some fares in California to give drivers for the ride-hailing company a way to earn more, part of its response to the state’s new gig-economy law. The changes rolled out Wednesday, following other adjustments made in December, are part of Uber’s effort to bolster its case that the law, which went into effect Jan. 1, wouldn’t require it to reclassify drivers as employees. Starting Wednesday, Uber capped its commissions on rides across the state and will let drivers see how much they make on certain trips. California’s Assembly Bill 5, or AB5, establishes a test that employers must pass to classify their workers as independent contractors. Employers who don’t meet the test must treat their workers as employees entitled to benefits including minimum wage and paid sick days. At least two lawsuits have been filed in federal court, saying that Uber misclassified drivers, citing the new law.

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