Uber and Lyft will save more than US$100mil (RM416.78mil) a year on employment costs, according to one estimate. — AFP
Gig economy giants in California, the United States, including Uber Technologies Inc, Lyft Inc and DoorDash Inc have won their effort to pass a hotly contested ballot measure that will exempt the companies from a state law requiring them to classify most of their workers as employees.
Uber and Lyft soared more than 14% in pre-market trade after California voters, in the most expensive ballot initiative in state history, approved a ballot measure exempting gig-economy companies from the state labour law known as A.B. 5. Almost 58% of voters were supporting the proposition versus 42% against, with more than 80% of the vote reported, according to the California Secretary of State’s Office.
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