Uber and Lyft IPO Valuations at Risk After Drivers’ Wage Backlash

Uber and Lyft might be getting ready for a couple of prime-time IPOs, but that doesn’t mean its all smooth sailing for the ride-sharing unicorns. Recent scrutiny on the amount that they pay their drivers is threatening to overshadow the public-listing amid a backlash from drivers who are looking to unionize. Uber Slashes Bonus Pay, Drivers Feel the Pain A minimum wage is now in place in New York, ($17 after expenses for Uber and Lyft drivers), and it appears this momentum is now catching on around the US. The main fears are that both companies will slash driver pay

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source https://www.ccn.com/uber-and-lyft-ipo-valuations-at-risk-after-drivers-wage-backlash

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