Uber’s Ride-hailing drivers to strike in New York ahead of IPO

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Uber’s Ride-hailing drivers to strike in New York ahead of IPO

On Friday, the 2nd of May 2019, a New York Taxi Union said that the Uber Technologies Inc.’s ride-hailing drivers of New York would start off a strike next week, shortly before the ride-hailing giant would push for its long-anticipated Initial Public Offerings, as the New York-based Uber’s taxi drivers would be protesting against an unfair employment condition including wages.

As a matter of fact, the protest would be challenging Uber to decline its ride-hailing costs, and had the protest been successful on New York, Uber would be finding it more difficult to become profitable while paying its drivers more for retaining their services.

Drivers for ride-hailing services such as Uber, Lyft and others would strike on next Wednesday (May 8th) for two hours, beginning from GMT. 11.00, while Uber has currently been expecting to go public by Thursday (May 9th) and to start trading on NYSE at the following day.

Adding further strains on to Uber’s growing expense saga, the ride-hailing drivers of San Francisco, L.A., San Diego, Washington D.C., Chicago and Philadelphia had also been planning to forge a strike, while the NYTWA (New York Taxi Workers Alliance) had been quoted saying that the drivers had been demanding security for their jobs, a livable income and a percentage of the amount ride-hailing companies were collecting from their fares.