Market Chatter: Uber Pressed for More Transparency on Driver Pay by Investor Group

MT Newswires Live12-21 05:07

Uber Technologies (UBER) faces a proposed shareholder resolution to be considered at its next annual meeting that would require the ride-hailing and delivery company to provide more detailed information about how its contract workers are compensated, according to a Bloomberg report on Friday.

The resolution, submitted by SOC Investment Group, which advises labor unions and other investors, highlights concerns over Uber's lack of transparency regarding driver pay.

SOC argues that Uber provides few details about its pay structure, including the share of rider and delivery fees it retains, changes in driver compensation over time, and whether drivers are earning a sustainable income, according to the news outlet.

Uber and SOC Investment did not immediately respond to a request on Friday from MT Newswires seeking additional information.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 60.69, Change: +0.48, Percent Change: +0.80

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