Uber Investors Are Calling for More Transparency Into Driver Pay
- Investor group advising pension funds proposing a resolution
- Group says firm should break down driver and restaurant pay
Uber signage on a vehicle in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
A group of investors in Uber Technologies Inc. is calling on the ride-hailing service to disclose more information on how it pays drivers, saying a clearer breakdown is critical to assessing the company’s ability to make money.
SOC Investment Group, an adviser to labor union pension funds representing a stake of less than 1% in Uber, is proposing a resolution at the company’s shareholder meeting next year that would require the firm to regularly disclose a more granular breakdown of driver compensation. Uber doesn’t, for example, currently separate out its payments to drivers, to restaurants and to insurance providers as part of its “gross bookings” in quarterly financial statements.