Uber, California Driver Ruler After Lyft Downshift

Uber Technologies (UBER) – Get Report And lyft (Lyft) – Get Report Both traded on a lower Friday following an appeals court ruling that they should treat their drivers in California as employees rather than independent gig employees, a significant blow that allowed both companies to cease operations in their home state Could inspire.

The ruling, late Thursday, upheld a lower court order that companies comply with Assembly Bill 5 and provide drivers with health and other work benefits that typically come with full-time employment status.


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