With quarterly revenue topping $5 billion, DoorDash, Uber push back driver wage laws [Yahoo! Finance]
DoorDash, Inc. (DASH)
Company Research
Source: Yahoo! Finance
Seattle and New York City are the first two cities in the U.S. to pass a minimum wage law for food gig delivery workers. During their quarterly earnings call Wednesday, Uber CEO Dara Khosrowshahi warned that these minimum pay laws, "hurt the people that its supposed to protected," GeekWire reported. These multi-billion dollar companies have ramped up efforts to alter pay regulations for delivery drivers in Seattle. In March, DoorDash spent $130,000 on lobbying to "repeal the app-based delivery worker minimum pay ordinance," according to King 5 News in Seattle. Now, the Seattle City Council is considering changes to the wage standard law that went into effect in January. The law sets a minimum that companies like DoorDash, GrubHub, Instacart and other food delivery apps must pay their drivers. Food delivery companies are required to pay their drivers at least 44 cents per minute, plus 74 cents per mile during orders, or a minimum of $5 per order. Uber Eats and DoorDash responde
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DASH
Earnings
- 5/1/24 - Beat
DASH
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/13/24 - Form 144
- DASH's page on the SEC website