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UBER TECHNOLOGIES, INC.

(UBER)
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Uber Technologies : urges rival apps to offer pensions

09/24/2021 | 01:21am EDT

SEVEN months after a long-running legal battle between Uber and its UK drivers culminated in the Supreme Court ruling that its drivers are workers and not selfemployed, Uber has from today begun rolling out its pension plan to its 70,000 people shuttlers.

The ride-hailing app said its drivers would be auto-enrolled in a new scheme provided by NOW:Pensions and managed by Adecco.

The majority of drivers in the UK work across several rival apps at a time - namely Bolt, Addison Lee and Ola, none of whom have offered their drivers this standard employment right.

Alongside its announcement of the pension scheme today, Uber called on its industry rivals to work wih the company on a crossindustry pension scheme "so [drivers] can benefit no matter who they choose to drive with," it said.

"We want to ensure that all eligible drivers can benefit no matter who they earn with, so today I am extending an invitation to work with operators such as Bolt, Addison Lee and Ola to create a cross-industry pension scheme," said Uber regional manager Jamie Heywood.

Heywood has previously pushed for a clearer set of rules across the driver app market.

(c) 2021 City A.M., source Newspaper

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Financials (USD)
Sales 2021 16 044 M - -
Net income 2021 -300 M - -
Net Debt 2021 3 344 M - -
P/E ratio 2021 -225x
Yield 2021 -
Capitalization 89 044 M 89 044 M -
EV / Sales 2021 5,76x
EV / Sales 2022 4,03x
Nbr of Employees 23 700
Free-Float 99,3%
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Uber Technologies, Inc. Technical Analysis Chart | UBER | US90353T1007 | MarketScreener
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Mean consensus BUY
Number of Analysts 45
Last Close Price 45,51 $
Average target price 66,01 $
Spread / Average Target 45,0%
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Managers and Directors
Dara Khosrowshahi Chief Executive Officer & Director
Nelson J. Chai Chief Financial Officer
Ronald D. Sugar Chairman
Sukumar Rathnam Chief Technology Officer
Yasir bin Othman Al-Rumayyan Independent Director
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