In its S-1 filing for IPO, Lyft warns that the push to classify ride-hailing app drivers as employees could damage its business.
Across the world, labor activists are pushing for ride-hailing app drivers to be counted as employees — and Lyft is warning that the move could seriously damage its business.Silicon Valley transportation firm publicly filed its S-1 documents ahead of its long-awaited IPO The S-1 also provides info on what the company views as significant potential threats to its business, one of which challenges to the legal status of its drivers. Like Uber and many other gig economy firms, Lyft's drivers are classified as independent contractors, not employees, and don't have any of the associated perks of part- or full-time employment like paid time off or health benefits.
Too bad? If they can't run a viable business like anyone else, they don't deserve it. If you compensate your workers so little that they can't even be considered employees, then you're probably doing something unethical.