The New York City Taxi Workers Alliance says its members voted not to drive for Uber or Lyft between 7 and 9 a.m. Wednesday.
The drivers intend to send a message to Uber, which is slated to begin trading as a public company on Friday. But the future of those bonuses is uncertain: Now that Uber is going public, it's further incentivized to rein in losses, and one way it could do so, the company noted in its SEC filing, is by cutting back on driver incentives. According to reports, the company could be valued at $90 million. "Uber's drivers continue to reduce driver rates (which are already below minimum wage)", the Transport Workers Union wrote, "deactivate drivers with no notice or right to appeal and refuse to support drivers even when they are beaten or sexually assaulted".
During the strike, drivers are calling for greater job security, higher incomes and regulated fare for rides.
In New York, the alliance was expecting most of its 10,000 app drivers to participate in the stoppage as well as some non-members.
Uber and Lyft have been in tight competition for years, and driver compensation has suffered because of it, said Barbara Lloyd, co-founder of Chicago Rideshare Advocates, the group organizing Wednesday's efforts.
The move follows a troubled market debut for Uber's largest U.S. rival Lyft, which has lost more than 15 per cent of its value since its March IPO.
"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", Wellford said in the statement.
In statements to Fast Company, both Lyft and Uber said that their drivers earn over $20 per hour.
Lyft, which says it has almost 40% of the USA ride-hailing market, said increased demand helped push revenue to $776 million in the quarter, up 95% from a year earlier and above analysts' average estimate of $739.4 million, according to IBES data from Refinitiv. Lyft, which forecast growth would slow in the second quarter, is watched as a bellwether for its larger rival Uber Technologies Inc which will price its offering on Thursday.
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