New Regulations Grind Hiring to a Halt for Uber and Lyft
"Uber’s and Lyft’s once inexorable-seeming growth in New York City has ground to a halt," according to an article by Dan Rubinstein.
The evidence to back up that claim: "Uber stopped hiring new drivers in New York City on April 1. Lyft followed suit on April 19."
Rubinstein reports that the two companies have blamed the turn of events on new regulations in the city that set wage requirements and penalties for operating empty vehicles.
"The move suggests New York City’s new driver pay regulations are having some of their desired effect, by restricting the growth of the driver pool and limiting what many driver advocates characterize as an over-saturated market," according to Rubinstein.