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The measure requires ride-hailing companies to pay drivers at least $1.40 per mile and $0.51 per minute for the time spent transporting a rider — or $5 per ride, whichever is greater — excluding tips. Photos You Should See View All 60 ImagesCritics of the bill say costs will likely spike for everyone, including people with low incomes and people with disabilities who rely on ride-hailing services. Supporters say the services have relied on drivers who are often people of color and immigrants for cheap labor. “Today’s vote showed Uber, Lyft, and the Mayor that the Minneapolis City Council will not allow the East African community, or any community, to be exploited for cheap labor,” Osman added. Seattle and New York City have passed similar policies in recent years that increase wages for ride-hailing drivers, and Uber and Lyft still operate in those cities.

Persons: — Lyft, Uber, Lyft, ” Lyft, ” Uber, Jacob Frey’s, ” Jamal Osman, “, ” Osman, Tim Walz, ” Walz Organizations: Republicans, City Council, Minneapolis City, Democratic, Uber, Associated Press Locations: MINNEAPOLIS, Minneapolis, Seattle, New York City

☆ Everyone needs an editor. Lyft just learned it the hard way
▼ + stars: | 2024-02-14 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

That goes for MBAs as much as MFAs, and it’s a lesson Lyft executives learned the hard way on Tuesday, when an errant zero sent its stock (briefly) to the stratosphere. The Lyft typo came in an earnings report that stated, incorrectly, that the company’s estimated gross margin would expand by 500 basis points, which would amount to a stunning five-percentage-point bump. The stock shot up more than 60% before Lyft’s CFO corrected the error on a call with analysts, bringing the stock back to Earth. With the error in the rear view, Lyft shares were up up 30% Wednesday, bolstered by stronger-than-expected earnings and a rosy outlook for future cash flows. “Look, it was a bad error, and that’s on me,” Lyft CEO David Risher told CNBC on Wednesday.

Persons: CNN Business ’, History’s, —, Arthur C, Clarke, Galena Biopharma, King Charles I, ”, David Risher Organizations: CNN Business, New York CNN, MBAs, Citibank, Citi, Mizuho Securities, NASA, New York Times, Bangladesh Bank, Reuters, Maine, SEC, CNBC Locations: New York, Mizuho, Galena

Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine's Day, calling for higher pay and other changes to their working conditions. In the U.S., Uber and Lyft drivers planned daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers were also holding midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort. Meanwhile, U.K. delivery drivers for Uber Eats, Deliveroo, Just Eat and Stuart said they would turn off their apps and refuse deliveries between 5 p.m. and 10 p.m. Justice for App Workers, which says it represents 130,000 ride-hailing and delivery workers, is seeking higher wages, access to health care and an appeals process so companies can’t deactivate drivers without warning.

Persons: Uber, Stuart, ”, Evadur Rahman, Rahman, “, ” Rahman, “ It’s, ” Uber, Deliveroo, Rachel Gumpert, Lyft, ” Lyft, Jill Lawless, Brian Melley Organizations: App Workers, Associated Press, deactivations, U.S, ___ Associated Press Locations: U.S, Chicago, Philadelphia, Pittsburgh, Miami, Orlando, Tampa , Florida, Hartford , Connecticut, Newark , New Jersey, Austin , Texas, Providence , Rhode Island, London, ___

☆ She says she gave birth to a child after a Lyft driver raped her in 2019. Now she’s suing
▼ + stars: | 2024-01-30 | by ( Clare Duffy | Jennifer Korn | ) edition.cnn.com time to read: +12 min

Orlando, Florida CNN —A Florida woman sued Lyft earlier this month, alleging that she was raped by her Lyft driver in 2019 and that the assault resulted in the birth of her third child. Separately, at least a handful of Lyft drivers accused of sexual assault have been convicted in criminal cases. Genetic testing later confirmed with “99.9999999998%” certainty that the Lyft driver is the child’s father, according to the complaint. The Lyft driver rolled down the passenger side window, and Plaintiff confirmed the Lyft driver was there for her,” the complaint states. Lyft’s continuous criminal record monitoring began in April 2019, the month of Means’ alleged rape.

Persons: Lyft, Tabatha Means, “, Uber —, Uber, ” Lyft, ” Means, Means, she’d, ” Tabatha, John General, Deborah Brunswick, ” Rachel Abrams, Peiffer Wolf, ” Abrams, wouldn’t, … I’ve, ”, Abrams, ’ Organizations: Florida CNN, CNN, Court, ADT, Social, US, Department, RAINN Locations: Orlando, Florida, California

☆ Lyft CEO tells employees they must return to the office
▼ + stars: | 2023-04-29 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Lyft’s new CEO David Risher announced another change for the ride-share company: Workers will soon have to return to the office. On Friday, Risher announced “the first steps in a plan for a flexible model with more regular in-office work,” a Lyft spokesperson said. “Personal connection matters and Lyft is about bringing people together,” a statement from Lyft said. Lyft also last year decided to sublease portions of its corporate office space in San Francisco, New York City, Nashville and Seattle, Bloomberg reported. It was the second layoff announcement since November, when the company announced a 13% workforce cut amid fears of an upcoming recession.

☆ What the wave of tech layoffs tell us about the economy
▼ + stars: | 2022-11-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

What’s happening: Tech companies are announcing an alarming number of layoffs and hiring freezes. ▸ Lyft (LYFT) said last Thursday that it will lay off 13% of its employees, or nearly 700 people, as it rethinks staffing amid rising inflation and fears of a looming recession. But other companies won’t be immune to the softening demand from consumers and businesses that tech companies have noted. It doesn’t help that the uncertainty around the platform comes at a bad time for ad revenue-dependent tech companies. More potential supply chain woesThe threat of a US rail strike that could disrupt supply chains is still very real.

☆ Lyft to lay off 13% of staff
▼ + stars: | 2022-11-03 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN Business —Lyft on Thursday said it will lay off 13% of its staff, or nearly 700 employees, as it rethinks staffing amid rising inflation and fears of a looming recession. In a memo to staffers on Thursday, a copy of which was shared with CNN Business, Lyft (LYFT) co-founders Logan Green and John Zimmer said the layoffs will impact every part of the company, and pointed to broader macroeconomic challenges that led to the cuts. But a number of tech companies reported slowing growth in the September quarter, as customers and advertisers rethink spending. “We are not immune to the realities of inflation and a slowing economy,” Lyft’s founders wrote in the memo to staffers. Shares for Lyft are down nearly 70% so far this year.

☆ Uber’s safety issues still loom large: Another five passengers sue company over alleged sexual assault incidents
▼ + stars: | 2022-07-14 | by ( Sara Ashley O'Brien | ) edition.cnn.com time to read: +5 min

CNN —Five more passengers are suing Uber over alleged sexual assault incidents that occurred in recent months at the hands of drivers on its platform. The incidents detailed in a lawsuit filed this week in San Francisco County Superior Court took place between August 2021 to February 2022 in Massachusetts, Pennsylvania, Illinois and California. Slater Slater Schulman LLP is among several firms with practices targeting safety issues on Uber and Lyft’s services. Across its two safety reports, which cover 2017 to 2020, the company disclosed that it received 9,805 reports of the most severe categories of sexual assault, which range from “non-consensual kissing of a non-sexual body part” to “non-consensual sexual penetration,” or rape. In March 2021, Uber and Lyft announced they would share the names of drivers who were deactivated over the most severe safety incidents.

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