Drivers to go on strike ahead of Uber IPO

Uber drivers are reportedly mulling to go on strike ahead of the ride-hailing giant's initial public offering (IPO).

Drivers in cities, including Los Angeles, New York City and London, would join the strike and log off the apps from 7 a.m. to 9 a.m. ET on Wednesday, May 8.

"Wall Street investors are telling Uber and Lyft to cut down on driver income, stop incentives and go faster to Driverless Cars," Bhairavi Desai, Executive Director of the New York Taxi Workers Alliance, was quoted as saying by the CNET late on Monday.

"With the IPO, Uber's corporate owners are set to make billions, all while drivers are left in poverty and go bankrupt."

Participants would also hold a rally at Uber's and Lyft's New York headquarters at 1 p.m. ET.

The New York drivers' demands include greater job security, higher incomes and regulated fare for rides.

"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," an Uber representative was quoted as saying by CNET.

Uber filed its IPO process last month with the public filing of its prospectus. It would be listed on the New York Stock Exchange (NYSE) under the symbol "UBER".

The company noted that as of December 31, 2018, it had 91 million, or 9.1 crore, monthly active platform users. There were 3.9 million, or 39 lakh, drivers on the platform by the end of 2018.

--IANS

ksc/bc