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Uber Drivers to go on Strike Ahead of IPO

Uber filed its IPO process last month with the public filing of its prospectus. It would be listed on the New York Stock Exchange (NYSE) under the symbol “UBER”

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Uber, bengaluru
Photo shows an exterior view of the headquarters of Uber in San Francisco. (VOA)

Uber drivers are reportedly mulling to go on strike ahead of the ride-hailing giant’s initial public offering (IPO).

Drivers in cities, including Los Angeles, New York City and London, would join the strike and log off the apps from 7 a.m. to 9 a.m. ET on Wednesday, May 8.

“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 Taxi Workers Alliance, was quoted as saying by the CNET late on Monday.

“With the IPO, Uber’s corporate owners are set to make billions, all while drivers are left in poverty and go bankrupt.”

Participants would also hold a rally at Uber’s and Lyft’s New York headquarters at 1 p.m. ET.

Uber app.

The New York drivers’ demands include greater job security, higher incomes and regulated fare for rides.

“Drivers are at the heart of our service — we can’t succeed without them — and thousands of people come into work at Uber every day focused on how to make their experience better, on and off the road,” an Uber representative was quoted as saying by CNET.

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Uber filed its IPO process last month with the public filing of its prospectus. It would be listed on the New York Stock Exchange (NYSE) under the symbol “UBER”.

The company noted that as of December 31, 2018, it had 91 million, or 9.1 crore, monthly active platform users. There were 3.9 million, or 39 lakh, drivers on the platform by the end of 2018. (IANS)

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Uber Lays off 350 Staff Across Eats, Self-driving Wings

Since then its shares have hovered around its $45 IPO price. The company has also seen three board members step down, along with its Chief Operating Officer (COO) and Chief Marketing Officer (CMO), according to the CNET

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Uber app.

Global ride hailing giant Uber, in its third round of layoffs in 10 weeks, has cut off staff from its self-driving unit and Uber Eats teams, The TechCrunch has reported.

According to an email sent to staffers, Uber CEO Dara Khosrowshahi, those hit include staff from Uber Eats, Advanced Technologies Group and recruiting, performance marketing, as well as various teams within the global rides and platform departments.

Several staffers have also been asked to relocate.

“Days like today are tough for us all, and the ELT and I will do everything we can to make certain that we won’t need or have another day like this ahead of us,” Khosrowshahi wrote in the email, according to the report.

Uber, bengaluru
Photo shows an exterior view of the headquarters of Uber in San Francisco. (VOA)

In its last round of layoffs, the firm sacked 400 staffers from its 1,200-member marketing team globally to cut costs and streamline operations.

The ride-hailing giant has had a rocky start after it became a publicly traded company. When it issued its initial public offering in May, its stock fell by nearly 8 per cent.

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Since then its shares have hovered around its $45 IPO price. The company has also seen three board members step down, along with its Chief Operating Officer (COO) and Chief Marketing Officer (CMO), according to the CNET. (IANS)

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