Mass. Auditor: Uber & Lyft cheated state's employee protection programs out of millions of dollars [Yahoo! Finance]
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Source: Yahoo! Finance
employee protection programs out of hundreds of millions of dollars by misclassifying their employees as independent contractors. The report released Tuesday was “Assessing Transportation Network Companies' Financial Obligations to Massachusetts Programs. According to conservative estimates in the report, Uber and Lyft have avoided paying more than $266 million into the state's workers' compensation, unemployment insurance, and paid family leave programs over the past ten years, including an estimated $47 million in 2023 alone. “The State Auditor's report shows the true cost of employee misclassification and how these companies exploit workers and taxpayers,' said Teamsters General President Sean M. O'Brien. “It is long past time that these greedy corporations are held accountable, take responsibility for their employees, and comply with the law like everybody else. We encourage other states to conduct similar audits to find out the extent of Big Tech's fleecing of the American
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- Uber Technologies, Inc. (NYSE: UBER) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $80.00 price target on the stock.MarketBeat
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- 5/8/24 - Miss
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