3 ms·

Uber and Lyft can easily afford to pay their workers the minimum wage, it would however hurt their record profits and set a precedence that they would need to p

Uber and Lyft can easily afford to pay their workers the minimum wage, it would however hurt their record profits and set a precedence that they would need to pay a living wage across all cities. Amazingly all other businesses in this city are already able to afford the minimum wage. This is a perfect example of a company tossing some of the lowest income members of society literally to the street rather than pay them a living wage. Thank god we have minimum wage laws.

CubsFan1060 3y ago
Can you help me out with the money here? I was curious, so I went and looked. https://investor.uber.com/news-events/news/press-release-details/2024/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2023/default.aspx https://investor.uber.com/news-events/news/press-release-det... It looks like they made approximately 1.4 billion, with a gross bookings of around 37.5 billion. That would _seem_ to mean that drivers would get an increase of approximately 3% of the full booking price if Uber was a nonprofit? Best I could find is that there are about 5.4 million drivers worldwide. So if Uber's profit was distributed evenly, each would get about $264/quarter? Without knowing hours driven, I'm not sure what all that boils down to. I suspect it doesn't factor in idle time, without rides. Can you talk a little bit about how you came up with "easily afford to pay their workers minimum wage"?
- Simulacra 3y ago
  A lot of people assume that just because a company has a lot of money that they can freely give away that money to their employees. We've seen this before, Starbucks for example, billion dollar company they have plenty of money to give their employees. No one really takes into account all of the expenses, and what that actually would look like.

3 ms·

Uber and Lyft can easily afford to pay their workers the minimum wage, it would however hurt their record profits and set a precedence that they would need to p

by thrownaway13371 3y ago

CubsFan1060 3y ago
Can you help me out with the money here? I was curious, so I went and looked. https://investor.uber.com/news-events/news/press-release-details/2024/Uber-Announces-Results-for-Fourth-Quarter-and-Full-Year-2023/default.aspx https://investor.uber.com/news-events/news/press-release-det... It looks like they made approximately 1.4 billion, with a gross bookings of around 37.5 billion. That would _seem_ to mean that drivers would get an increase of approximately 3% of the full booking price if Uber was a nonprofit? Best I could find is that there are about 5.4 million drivers worldwide. So if Uber's profit was distributed evenly, each would get about $264/quarter? Without knowing hours driven, I'm not sure what all that boils down to. I suspect it doesn't factor in idle time, without rides. Can you talk a little bit about how you came up with "easily afford to pay their workers minimum wage"?
- Simulacra 3y ago
  A lot of people assume that just because a company has a lot of money that they can freely give away that money to their employees. We've seen this before, Starbucks for example, billion dollar company they have plenty of money to give their employees. No one really takes into account all of the expenses, and what that actually would look like.