Uber Technologies Inc (NYSE: UBER) faces a lawsuit filed by the United Food and Commercial Workers International Union Local 1518 on behalf of three former Uber drivers. The drivers claim that Uber terminated them after conflictS with clients who would not wear a face mask. Although the drivers had had good ratings, they were immediately dismissed after a few bad reviews from passengers.
High gasoline prices in Brazil force Uber drivers to abandon jobs
This comes after Uber drivers in Brazil, the company’s largest market outside the U.S, leave their jobs, causing a shortage in transportation. Uber drivers in Brazil are abandoning their jobs after a rise in gasoline prices in the country, which has increased the cost of operations for uber drivers, thus reducing their profits.
Gasoline prices which have seen a 40% increase since 2020, have been rising for several years now. The prices currently stand at about $4.85 per gallon.
Uber’s biggest competitor in Brazil, 99, owned by Didi Global Inc (NYSE: DIDI) in China, faces the same difficulties. The companies have tried to incentivize drivers by offering an increased percentage of sales. However, this tactic has not worked so far. In Sao Paulo alone, the busiest area for Uber, and 99, 25% of the drivers working for both companies have quit.
Uber proceeds with plans to create a Showtime series
Despite the setbacks, the company is still planning to start a Showtime series called Super Pumped. The show is an adaptation of a book by Mike Isaac of the same name. The company has presently added four more members to its cast. These include Joel Kelley Dauten, Mark Gessner, Noah Weisberg,
and Darren Pettie. Other cast members for the show are Kerry Bishe, Elisabeth Shue, and others.
For each season, the show will focus on a different issue the company faced. The company has already hired several executive producers, including Stephen Schiff, Alyce Ozarti, Paul Schiff, and Beth Schacter.
Moreover, an investor letter from ClearBridge investment fund has noted that the company has been ranked 11th in a list of 30 most popular stocks among hedge funds, as Uber’s performance is discussed.