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 to try and pad their bottom line for the media blitz ahead of their IPOs.

We hear contrasting things about driving Uber in particular. There are stories like this, showing a driver using the platform to make bank executive money but more and more about how pay is being slashed. It appears the recent changes made to the driver bonus structure is making life tough.

Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and services. Support our journalists today. Click here to sign up.

Previous articleBitcoin Expertise ‘Exploding’ Among Insurance Professionals in 2019: Study
Next articleHow Lightning Makes Bitcoin Great Again (for Payments)