Uber, Sephora, Apple | Are companies failing to compensate & reward employees amid record-breaking profitability?

A week after Uber celebrated its first year of profitability, hitting a staggering $1.1 billion in operating profit for 2023, many of its drivers walked out on strike over their pay.

The walk-out, which took place on Valentine's Day, included thousands of drivers who feel they do not receive a fair share of the fees the company charges its customers. “Whatever calculations and algorithms they're using, it's useless,” said Nicole Moore, President of Rideshare Drivers United, one of the unions organizing the strike.

The official statement from Rideshare Drivers United cites “the significant decrease in pay” its riders have “all felt this winter.” Placing this claim in the context of Uber’s higher-than-forecasted operating income of $652 million over Q4 makes for uncomfortable reading.