Uber, Lyft drivers strike days ahead of Uber’s much anticipated IPO

Future of ridesharing rattled as Lyft, Uber drivers strike

CLEVELAND, OH (WOIO) - As Uber prepares for one of the most highly anticipated initial public offering Silicon Valley has seen in years, drivers for both Uber and Lyft are set to strike.

If you rely on either ride sharing service to get where you’re going, you may have to wait longer to be connected with a driver and experience surge pricing.

In Cleveland, and across the country, drivers are demanding a livable wage after they say both companies are charging less for fares and keeping more of the money.

Drivers in Los Angeles, Chicago, Minneapolis and New York City are among those participating alongside Cleveland drivers. Their goal is a minimum wage, basic benefits and a higher percentage of fares.

HAPPENING TODAY: Lyft, Uber drivers set to strike ahead of Uber's hotly anticipated IPO. Damon Maloney has the latest @ 6 a.m. https://bit.ly/2H6c4v7

Posted by Cleveland 19 News on Wednesday, May 8, 2019

Right now they are considered independent contractors, not employees, which is how both Uber and Lyft are able to skirt issues like benefits and paid time off.

The Economic Policy Institute, found Uber drivers earn the equivalent of $9.21 in hourly wages after factoring in commissions, fees and vehicle expenses as well as health insurance and other expenses.

Ahead of its IPO Friday, Uber is expected to have a valuation that exceeds $100 billion.

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