More than $15bn was wiped off the value of America’s largest gig economy companies on Thursday morning after the US labour secretary suggested some workers ought to be classified as employees.
Shares of ride-sharing pioneers Uber and Lyft and the food delivery service DoorDash were down by between 5 and 11 per cent after Marty Walsh told Reuters he felt workers should be treated as employees in “a lot of cases”.
“In some cases [workers] are treated respectfully and in some cases they are not,” he told the news agency. “And I think it has to be consistent across the board.”
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