Massachusetts voters have approved a landmark measure allowing Uber and Lyft drivers to unionize, marking a significant shift in labor rights for gig workers.
In a historic move, Massachusetts voters have approved a ballot measure granting Uber and Lyft drivers the right to unionize, making the state the first in the nation to allow such a measure for app-based transportation network drivers. The decision, which passed with 54% of the vote, represents a significant victory for labor groups and gig workers seeking better wages and working conditions.
The measure, known as Question 3, allows drivers classified as independent contractors to collectively bargain for wages, benefits, and other work conditions. This development comes despite a previous settlement that guaranteed a $32.50 minimum wage for drivers, along with other benefits such as paid sick leave and occupational accident insurance.
The campaign for unionization was heavily supported by the Service Employees International Union and other labor organizations, which contributed millions to the effort. Proponents argue that the ability to unionize will provide drivers with a stronger voice in negotiations with companies like Uber and Lyft, potentially setting a precedent for similar measures in other states.
However, the measure has faced opposition from some quarters, with critics warning that it could lead to increased costs for riders and create a new labor category that might conflict with federal laws. Despite these concerns, the measure's passage is seen as a monumental step forward for gig workers, who have long been excluded from traditional labor protections.
Massachusetts Attorney General Andrea Campbell, who played a key role in the earlier settlement with Uber and Lyft, supported the measure, emphasizing the need for gig workers to have a say in their working conditions. The measure also received endorsements from several political leaders and labor advocates.
As the first state to implement such a measure, Massachusetts could serve as a model for other states considering similar legislation, potentially reshaping the landscape of labor rights for gig economy workers across the United States.
National Australia Bank (NAB) reports a decline in annual profit due to intense competition in the home loan market and rising costs, yet raises its dividend.
Coty Inc. has adjusted its annual profit forecast to the lower end of its previous guidance due to a slowdown in demand for beauty products, particularly in mass-market segments.
ExxonMobil has postponed its final investment decision for the Rovuma LNG project in Mozambique to 2026, citing ongoing security concerns and force majeure conditions.
Blackstone Real Estate is set to take Retail Opportunity Investments Corp private in a $4 billion all-cash transaction, marking a significant expansion in its retail real estate portfolio.
Jamie Dimon, CEO of JPMorgan Chase, confirms he will remain at the bank and has no plans to join the Trump administration, despite speculation about a potential government role.
Marathon Oil surpasses third-quarter profit expectations due to increased production and strategic positioning in key shale basins, while preparing for a merger with ConocoPhillips.
As Qualcomm prepares to release its Q4 earnings, analysts weigh in on the company's stock performance, legal battles, and market challenges.
Gilead Sciences reported third-quarter results that exceeded Wall Street expectations, driven by strong sales of HIV and COVID-19 treatments, leading to an increased full-year guidance.
Cencora, a leading pharmaceutical solutions company, is set to acquire Retina Consultants of America for $4.6 billion, expanding its specialty medicines business and gaining access to a network of nearly 300 retina specialists.