Uber CEO Admits Company Can Afford Labor Protections for Drivers
Dara Khosrowshahi told investors that Uber “can make any model work” in response to new EU regulations — a departure from the gig employer’s public stance.
Lee Fang
January 7, 2022
Uber CEO Dara Khosrowshahi reassured investors concerned about new European Union regulations in December, telling a group of bankers that his company can continue to thrive even under rules that would force it to hire drivers as employees.
“We can make any model work,” Khosrowshahi said when asked about potential EU legislation that would require Uber to designate drivers as employees or provide additional rights such as vacation time and a pension.
Speaking by video at a December 14 “fireside chat” hosted by the Swiss bank UBS, Khosrowshahi told investors that recent decisions in Spain and the United Kingdom have not drastically harmed the company. In the past year, both countries have enacted rules compelling gig companies to provide more worker protections to drivers.
“Spain business is up close to 40 percent on a year-on-year basis, and Spain EBITDA margins are very close to our overall long-term margins as well,” noted Khosrowshahi, referencing the company’s cash flow before taxes and interest.
https://theintercept.com/2022/01/07/uber-drivers-labor-protections-dara-khosrowshahi-european-union/
