Uber reserves millions for settlements


Uber Technologies, known for its taxi apps, expects that legal proceedings can go a long way. For settlements with drivers in the United States, the company had already set aside 132 million dollars at the end of last year, the company reports to supervisor SEC the day before its IPO.

The technology group is in conflict with parties worldwide who believe that independent drivers who work via the Uber platform are actually employees. The associated costs are expected to be ‘material’, Uber writes in a supplement to his provisional prospectus.

This includes legal costs for collective litigation and investigations by labor inspectorates and tax authorities in different countries. Last year, Uber was among the shortest in the United Kingdom. The judge ruled that Uber should treat drivers as normal employees.

By: Peretz M.

Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.

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