gig-economy giants: Photo Drew Angerer/Getty Images Gig-economy companies Lyft, Uber, and Postmates are racing to file IPOs this year, a mad dash replete with ever-increasing multibillion-dollar valuations, according to The Independent. But is the rush to start trading on the public markets also a sprint to evade compliance with current labor law Recent financial and lobbyist filings suggest that the gig-economy giants are hoping to get ahead of a wave of enforcement actions, new legislation, regulatory requirements, and lawsuits that could force these companies to finally and formally classify full-time workers as employees. Photo Drew Angerer/Getty Images Members and supporters of the Independent Drivers Guild protest against Lyft's minimum wage for drivers at a hearing outside of the New York state Supreme Court on March 18, 2019. Virtually every major gig-economy company whether its focus is ride-sharing or grocery delivery has fought to treat on-demand workers as independent contractors regardless of the amount of time they work. Despite promises of high pay with flexible hours, ride-share workers have found that they often earn less than 10 an hour after vehicle expenses. The independent contractor classification generally prevents on-demand workers from engaging in collective bargaining and unionization, and it allows the gig-economy industry to avoid paying health-care benefits and unemployment, complying with standard workplace rules guarding against harassment, or ensuring mandatory breaks.
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