‘Orgy of greed’: Uber drivers go on strike one day before IPO

Drivers of ride-hailing platform Uber have gone out on strike today in protest over unfair pay and workers rights.

The strike, which is intended to run between 7am and 4pm, comes ahead of the company’s initial public offering. The IPO, scheduled for Friday, values the company at as much as $90bn (£69bn).

Read more: Uber drivers to stage nationwide protest tomorrow before headline IPO

The union United Private Hire Drivers (UPHD) asked drivers and riders not to open the app during the strike. It called on Uber to guarantee pay of £2 per mile, reduce commissions, recognise workers’ rights, and end unfair dismissals.

On Twitter Labour leader Jeremy Corbyn threw his weight behind the strikers, who are set to protest outside Uber’s London headquarters this afternoon. Drivers are also expected to protest in Birmingham, Nottingham and Glasgow.

“Uber cannot be allowed to get away with huge payouts for their chief executives while refusing to pay drivers a decent wage and respect their rights at work. Stand with these workers on strike today, across the UK and the world, asking you not to use Uber between 7am and 4pm,” Corbyn said.

In a statement UPHD said that Uber’s IPO was giving “billions to bosses” while leaving drivers on “poverty pay”. It said Uber drivers earn on average £5 per hour and work up to 30 hours per week before breaking even.

UPHD chair James Farrar said: “Uber's flotation is shaping up to be an unprecedented international orgy of greed as investors cash in on one of the most abusive business models ever to emerge from Silicon Valley. It is the drivers who have created this extraordinary wealth but they continue to be denied even the most basic workplace rights.”

Strikes are due to happen in the US with protest planned in New York, Los Angeles, San Francisco, Chicago and other cities. In San Francisco and Los Angeles, drivers recently had their per-mile rate slashed, causing them to lose between 10 and 20 per cent of their earnings, according to driver estimates.

Read more: Uber IPO trading – can it still hit $100bn in valuation?

An Uber spokeswoman said: “Drivers are at the heart of our service – we can’t succeed without them – and thousands of people come into work at Uber every day focused on how to make their experience better, on and off the road. Whether it’s being able to track your earnings or stronger insurance protections, we’ll continue working to improve the experience for and with drivers.”