Followers | 680 |
Posts | 141209 |
Boards Moderated | 36 |
Alias Born | 03/10/2004 |
Tuesday, December 15, 2020 1:59:24 PM
By: The Verge | December 14, 2020
• The companies will provide guaranteed minimum wages and health care subsidies
Following their victory last month in California on the Prop 22 ballot measure, Uber and Lyft have unveiled the new “benefits” for California drivers on their platforms, including guaranteed minimum earnings and stipends for health care.
“Even though we’ve won the vote, we’re still not done,” Uber CEO Dara Khosrowshahi said in a blog post announcing the benefits. “In fact, we’ve only just begun to improve independent work together.”
Gig economy companies, including Uber, Lyft, and DoorDash, spent more than $200 million on the “Yes on 22” campaign. Prop 22 exempts them from AB5, a California state law requiring them to treat their workers as employees. The companies said AB5 would increase wait times and prices for customers, while taking flexibility away from drivers.
Prop 22 allows the companies to continue categorizing drivers as independent contractors and also provide some additional benefits. Opponents argued that the provisions in Prop 22 were not equal to the economic security of full-time employment.
Under Prop 22, gig workers — including ride-share drivers — will be paid 120 percent of California’s minimum wage of $13 per hour, which increases to $14 per hour in 2021. For ride-share drivers, this applies only during active hours: when they have a passenger in their vehicle or are en route to pick up a passenger. It requires workers with 15 active hours a week to receive a health care stipend.
Uber’s benefits program calls for drivers to be paid at least 20 percent more than the pickup city’s minimum wage plus 30 cents per mile for expenses. That 30 cents per mile doesn’t apply to delivery workers on foot or bicycle. Drivers who earn less than the guaranteed minimum over a two-week period will be paid the difference automatically.
Lyft’s pay schedule is similar, with its first guaranteed earnings period beginning on December 16th. At both companies, drivers who earn more than the guaranteed minimum will keep all of their earnings — there is no upper limit. They’ll also keep 100 percent of their tips
For health care, Lyft will provide a quarterly health care subsidy for drivers who drive an average of at least 15 hours per week. To qualify, drivers have to provide proof they are enrolled in a qualifying health care plan. Uber’s health care stipend also requires an average of 15 hours per week, and drivers have to prove they are the primary policyholder on a qualifying health insurance plan. Uber drivers receive 50 percent of the stipend — amount still TBD — if they average 15 active hours a week and 100 percent of the stipend when they average 25 active hours per week.
Drivers can qualify for the health care subsidies beginning on January 1st.
To cover the costs of the new benefits, Uber said it would apply a fee of up to $1.50 to the cost of rides and up to $2 on meal deliveries, the Financial Times reported. Lyft did not provide details on any additional customer fees.
Prop 22 mandates current ride-share drivers receive safety training before July 1st, 2021. Drivers who sign on after January 1st will be required to complete the safety course before they take their first trips. Drivers will also be required to take breaks of at least six hours if they drive more than 12 hours in a 24-hour period, and they will be enrolled in injury protection insurance that covers medical expenses, disability payments, and survivor benefits.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent LYFT News
- Choppy Trading Likely To Persist On Wall Street • IH Market News • 05/09/2024 01:08:04 PM
- Dow Extends Winning Streak Amid Another Lackluster Session • IH Market News • 05/08/2024 08:42:00 PM
- Reddit Rises 15% After First Quarterly Report, Upstart and Twilio Plunge Due to Weak Q2 Forecast, and More in Earnings • IH Market News • 05/08/2024 12:23:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:07:27 PM
- Lyft Announces Results for First Quarter 2024 • Business Wire • 05/07/2024 08:05:00 PM
- U.S. Index Futures Mixed in Pre-Market Tuesday, Oil Dip • IH Market News • 05/07/2024 11:47:40 AM
- Lyft To Announce First Quarter 2024 Financial Results • Business Wire • 04/18/2024 08:05:00 PM
- Paramount Global Board Shrinks, Morgan Stanley Faces Regulatory Probe, and More News • IH Market News • 04/12/2024 11:05:29 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/06/2024 12:48:11 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 02:12:04 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 10:01:04 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 11:03:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 09:07:37 PM
- Lyft Announces Pricing of Offering of $400 million of Convertible Senior Notes • Business Wire • 02/23/2024 06:08:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 02:21:05 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 02:18:59 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/21/2024 10:07:44 PM
- Lyft Announces Private Offering of $400 million of Convertible Senior Notes • Business Wire • 02/21/2024 10:03:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/20/2024 11:00:23 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 02/20/2024 11:27:46 AM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/20/2024 11:03:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/17/2024 01:45:31 AM
- Lyft CFO to Participate in Fireside Chat Hosted by Morgan Stanley • Business Wire • 02/15/2024 09:24:00 PM
- Futures Pointing To Extended Rebound On Wall Street • IH Market News • 02/15/2024 02:05:15 PM
- U.S. Futures Edge Higher Ahead of Key Economic Data Release, Oil Prices See Modest Declines • IH Market News • 02/15/2024 11:35:32 AM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM