Uber, Lyft drivers to strike and rally ahead of Uber's IPO

Uber's hotly anticipated stock market launch is expected to be one of the biggest IPOs in history

Both Lyft and Uber have warned in regulatory filings that they may never make a profit and they face growing competition, friction with drivers and pricing pressure. "Most of the things they're striking for, we already have in NY", says Brendan Sexton, executive director of the Independent Drivers Guild, a nonprofit that helped push for the minimum pay legislation in NY.

In several other USA cities, drivers plan to strike Wednesday over pay and working conditions.

"Stand with these workers on strike today, across the United Kingdom and the world", said Jeremy Corbyn, the leader of Britain's opposition Labour Party. "My condition as an Uber driver has gotten worse and worse".

Lyft, which says it has almost 40% of the USA ride-hailing market, said increased demand helped push revenue to $776 million in the quarter, up 95% from a year earlier and above analysts' average estimate of $739.4 million, according to IBES data from Refinitiv.

If you believe in worker's rights, don't use the app for the next 24 hours.

More than 200 drivers in the Boston Independent Drivers Guild were expected to participate in the work stoppage, which was to be highlighted by an afternoon rally outside an Uber office in Saugus.

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In New York City, drivers plan to strike for two hours during the morning rush hour to demand job security, livable wages and a guaranteed commission rate, according to a release from the New York Taxi Workers Alliance.

An organizer of the NY rally told the crowd that the driver mobilization was an "uphill battle", responding to a question about why there was not a bigger impact on the service.

Rebecca Stack Martinez, Uber driver who is helping to organize protest efforts in San Francisco.

Uber now operates in 40 Indian cities and the country accounts for an estimated 11 percent of its global rides. "They are telling their shareholders they intend to take more, intend to pay drivers less and expect drivers to be increasingly upset by that trend". Although New York drivers won a recent battle when the city enacted a law that mandates ride-hail companies pay them at least $17.22 an hour after expenses, organizers said the rates across the board are below a living wage.

As Uber cruises towards a blockbuster public float later this week, shareholders and employees are set to feast on the proceeds of a deal that could value the ride-hailing company at close to $90bn.

Other cities are taking different approaches to the protest. On the eve of its initial public offering, the numbers at the San Francisco company add up to a deeply odd picture.

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Demands from the New York Taxi Workers Alliance, which largely echoed other groups, included boosting job stability by ending "unfair deactivations", raising driver pay and increasing regulation of fares while guaranteeing drivers a larger cut.

Uber has not responded to FOX 5's request for comment but told The Washington Post that thousands of people come into work at Uber every day focused on how to make their lives better and they will continue working on ways to improve the experience for drivers. "They have grown and grown and gotten richer and richer, but I haven't grown with the company".

The company's ability to attract and retain drivers will continue to be important if it wants to keep customers happy with fast pickup times.

The strike was spearheaded by Rideshare Drivers United, a Los Angeles-based association of drivers.

Drivers are classified as independent contractors, and lack paid sick and vacation days and must pay their own expenses, such as auto maintenance and gasoline.

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