Ride-hailing drivers to strike ahead of Uber IPO

NEW YORK: Uber Technologies Inc’s drivers in New York will go on strike this week shortly before the ride-hailing company goes public to protest what they view as unfair employment conditions, a taxi union said. The protests underscore the challenge for Uber of finding a way to lower driver costs in order to become profitable and paying drivers enough to retain their services. Drivers for Uber, as well Lyft Inc and other ride-hailing apps, will strike on Wednesday for two hours, beginning at 7 am ET (1100 GMT). Uber currently expects to price its IPO on Thursday and begin trading on the New York Stock Exchange the following day. The drivers join peers in San Francisco, Chicago, Los Angeles, San Diego, Philadelphia and Washington, DC, who are also planning to strike. The New York Taxi Workers Alliance (NYTWA) said the drivers are demanding job security, livable incomes and a cap on the amount ride-hailing companies can collect from fares. — Reuters