Uk News Hundreds of Deliveroo drivers go on strike but share price rallies on first full day of trading United Kingdom news
PremierLeague-News.Com - The strikes come after its much-anticipated float on the UK stock market flopped last week
PremierLeague-News.Com - Breaking Sport Transfer News ! Hundreds of Deliveroo drivers went on strike on Wednesday over pay and working conditions but the takeaway delivery company’s share price still rallied on its first day of full trading after an embarrassing slump last week. Socially distanced protests were held in London, York, Sheffield, Reading and Wolverhampton over how workers are treated at the group. The food-delivery firm does not guarantee minimum pay rates, stating that couriers are independent self-employed contractors not entitled to benefits such as holiday pay and pensions. The strikes come after its much-anticipated float on the UK stock market flopped last week after a number of high-profile investment managers said they would shun the listing over its treatment of workers. During the first full day of trading yesterday, however, its share price rose by as much as 3 per cent to a little over 290p but was still way down on the 390p per share initial public offering. The i newsletter latest news and analysisEmail address is invalidThank you for subscribing!Sorry, there was a problem with your subscription. Read More Deliveroo share price: How stock of the delivery app plummeted 30% as it made London IPO The strike action follows recent campaigns by those in the gig economy to be classed as workers and receive better pay and conditions. Unions won legal action last month against ride hailing firm Uber. Alex Marshall, president of the Independent Workers’ Union of Great Britain and a former bicycle courier, said: “Deliveroo presents a false choice between flexibility and basic rights but the Uber ruling showed that, here as well as abroad, workers can have both.
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.” Deliveroo said it surveyed 8,500 riders on Tuesday and 89 per cent said they were satisfied working for the company. When asked what the most important factors are when working with Deliveroo, the top answer was ‘Working when I like’, followed by ‘Working where I like’ and ‘The ability to choose which orders I accept’, said Deliveroo. ‘How much money I make’ was number five, said a spokeswoman. The Labour leader, Sir Keir Starmer, said last week: “No, I wouldn’t buy shares in Deliveroo. I accept the argument that we have got to have economic growth coming out of this pandemic, that is an absolute priority, but what we can’t do is go back to the broken system that we had before. “Insecure work, not proper pay, low standards. We need to have the ambition to go forward to an economy which is long-term, high standards, high wage, with proper protection for those within the workforce.”
Source = PremierLeague-News.Com