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NYC Sets Smaller Driver Pay Bump After Uber, Lyft Pushback
New York City on Friday announced new minimum-pay rules for rideshare drivers, settling on a smaller-than-proposed 5% increase following pushback from Uber Technologies and Lyft. From a report: An earlier proposal called for a 6.1% pay boost. The finalized regulations from the city's Taxi and Limous...
New York City on Friday announced new minimum-pay rules for rideshare drivers, settling on a smaller-than-proposed 5% increase following pushback from Uber Technologies and Lyft. The finalized regulations from the city's Taxi and Limousine Commission, or TLC, are also designed to deter Uber and Lyft from locking gig workers out of their apps in an attempt to keep costs down. Lyft's shares extended declines after Bloomberg reported on the rules, falling as much as 3.3% to hit session lows.
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