TECH - Uber And Lyft's Minneapolis Exit Delayed As Wage Ordinance Postponed | Benzinga
In a recent turn of events, Uber Technologies Inc. (NYSE:UBER) and Lyft Inc. (NASDAQ:LYFT) have decided to delay their departure from Minneapolis, providing temporary relief to users who rely on their services.
What Happened: The two leading ride-hailing companies, Uber and Lyft, have extended their operations in Minneapolis until July 1, Reuters reported on Friday. This follows a Minneapolis City Council decision to postpone the enforcement of a new driver pay ordinance.
The ordinance, which mandates a minimum hourly wage of $15.57 for rideshare drivers, was originally set to take effect on May 1 but has now been pushed back to July 1 after a unanimous council vote.
This was in response to the council’s March decision, which followed protests by rideshare and delivery drivers on Valentine’s Day advocating for fair pay ...