{"id":183015,"date":"2021-02-19T17:37:27","date_gmt":"2021-02-19T14:37:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uber-stock-slides-after-uk-court-rules-drivers-are-workers\/"},"modified":"2021-02-19T17:37:27","modified_gmt":"2021-02-19T14:37:27","slug":"uber-stock-slides-after-uk-court-rules-drivers-are-workers","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uber-stock-slides-after-uk-court-rules-drivers-are-workers\/","title":{"rendered":"#Uber stock slides after UK court rules drivers are ‘workers’"},"content":{"rendered":"

“#Uber stock slides after UK court rules drivers are ‘workers’<\/strong>”
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Uber\u2019s stock price tumbled Friday after Britain\u2019s top court said its drivers should be treated as \u201cworkers\u201d rather than independent contractors.<\/p>\n

Shares in the ride-hailing giant slid 1.6 percent in premarket trading to $58.07 as of 9:17 a.m. following the UK Supreme Court\u2019s ruling, which deemed Uber drivers eligible for protections such as a minimum wage and paid leave.<\/p>\n

The decision dealt a blow to Uber\u2019s argument that its drivers are independent contractors who aren\u2019t entitled to such benefits \u2014 a claim central to the company\u2019s business model.<\/p>\n

Uber acknowledged that the ruling could have major implications for Britain\u2019s ride-sharing industry even though it only focused on a handful of drivers who originally brought the case in 2016. The company has about 60,000 drivers in the UK, including 45,000 in London.<\/p>\n

\u201cImportantly, this case could set a precedent for other workers and companies in the gig economy throughout the UK and Europe which would be a body blow to the overall ecosystem,\u201d Wedbush Securities analyst Daniel Ives said in a Friday research note.<\/p>\n

The Supreme Court unanimously shot down Uber\u2019s app<\/a>eal of previous rulings that sided with a group of drivers who challenged the company\u2019s independent contractor model.<\/p>\n

The seven-judge panel found that Uber exercises \u201csignificant\u201d control over its drivers\u2019 work and rejected the company\u2019s argument that it simply facilitates transactions between drivers and riders.<\/p>\n

Uber\u2019s service \u201cis designed and organized in such a way as to provide a standardized service to passengers in which drivers are perceived as substantially interchangeable and from which Uber, rather than individual drivers, obtains the benefit of customer loyalty and goodwill,\u201d the decision says<\/a>.<\/p>\n

The ruling came about three months after Uber scored a political victory in California, where voters approved a ballot measure exempting ride-hail drivers from a controversial law that aimed to force tech companies to treat gig workers as employees. Uber and rival Lyft had threatened to halt their operations in the state before the measure passed.<\/p>\n

Uber pointed out that the \u201cworker\u201d status the UK ruling afforded to some of its drivers there was different from the country\u2019s \u201cemployee\u201d classification, which provides a wider range of protections.<\/p>\n

The San Francisco-based company also said it has made \u201csignificant changes\u201d to its British business since the case was brought in 2016, such as giving drivers more control over how they earn and providing free insurance in case of sickness or injury.<\/p>\n

\u201cWe are committed to doing more and will now consult with every active driver across the UK to understand the changes they want to see,\u201d Jamie Heywood, Uber\u2019s regional general<\/a> manager for northern and eastern Europe, said in a statement.<\/p>\n

With Post wires<\/em>\n <\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Uber stock slides after UK court rules drivers are ‘workers’” Uber\u2019s stock price tumbled Friday after Britain\u2019s top court said its drivers should be treated as \u201cworkers\u201d rather than independent contractors. Shares in the ride-hailing giant slid 1.6 percent in premarket trading to $58.07 as of 9:17 a.m. following the UK Supreme Court\u2019s ruling, which…<\/p>\n","protected":false},"author":1,"featured_media":183016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/02\/uber-58.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[94145,70359,71404,1450,4966,76339],"class_list":["post-183015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-2-19-21","tag-stocks","tag-supreme-court","tag-uber","tag-united-kingdom","tag-workers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/183015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=183015"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/183015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/183016"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=183015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=183015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=183015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}