Legal ruling averts Uber and Lyft shutdown in California
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Summary
California officials say treating drivers as contractors also has broader costs because the companies don't contribute to the state's dwindling unemployment insurance fund on the drivers' behalf.California represents a substantial chunk of both companies' businesses, accounting for about one-fifth of all Lyft rides pre-pandemic and about one-tenth of Uber's. "In this game of high stakes poker we believe this is a smart move by Lyft with Uber, and the court ruling today was a major victory lap for both players," he told investors in a note.In an update to its cancellation threat, Lyft thanked "the tens of thousands of drivers, riders, and public officials who urged California to keep rideshare available." An Uber spokesperson said the company would "continue to advocate for drivers' ability to work with the freedom they want."The Associated Press contributed reporting.
As said here by Irina Ivanova