Lyft shares drop as it suspends ride-sharing operations in California
The move is in reaction to a ruling by judge, along with Uber, to treat drivers as employees and not independent contractors
20 August 2020 - 19:46
San Francisco — Lyft said it will suspend ride-sharing operations in California as of midnight, making good on its promise to stop doing business in the state rather than comply with a law to reclassify its drivers as employees.
“This is not something we wanted to do, as we know millions of Californians depend on Lyft for daily, essential trips,” the company wrote in a blog post on Thursday. “We’re personally reaching out to riders and drivers to share more about why this is happening, what you can do about it, and to provide some transportation alternatives.”..
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