#UberShutDown: Uber drivers go on strike with protests in London and New York ahead of blockbuster IPO on Friday
- Initial public offering at the end of the week expected to be valued at US$90 billion
Uber drivers in London and New York started a series of multi-city strikes on Wednesday to protest the disparity between gig-economy conditions and the sums that investors are likely to make in Friday’s blockbuster stock market debut.
Protests were sparsely attended in London and New York, and rides appeared easily available in some cities where strikes were called.
Drivers and regulators around the world have long criticised the business tactics of Uber Technologies Inc, and the expected valuation of up to US$90 billion in its initial public offering on Friday is proving to be the latest flashpoint.
Unions in Britain said support for the strike was strong, with drivers staying at home and passengers using the #UberShutDown hashtag to pledge solidarity on social media. The Uber app indicated fares were higher in London during a rainy morning rush hour due to increased demand.
“Stand with these workers on strike today, across the UK and the world,” said Jeremy Corbyn, the leader of Britain’s opposition Labour Party.