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>WASHINGTON, Oct 11 (Reuters) - The U.S. Department of Labor proposed a rule on Tuesday that would make it more difficult for companies to treat workers as independent contractors, a change that is expected to shake up ride-hailing, delivery and other industries that rely on gig workers.
>Gig company stocks were hammered on the news, with Uber (UBER.N), Lyft (LYFT.O) and DoorDash (DASH.N) all falling at least 10%. Groups representing employers quickly criticized the rule.
>The proposal would require that workers be considered a company's employees, entitled to more benefits and legal protections than contractors, when they are "economically dependent" on the company. It could have wide-ranging impacts on company profits and hiring, household incomes and worker quality of life.
>The Labor Department said it will consider the worker's "opportunity for profit or loss, investment, permanency, the degree of control by the employer over the worker, (and) whether the work is an integral part of the employer’s business," among other factors.
https://www.reuters.com/world/us/new-biden-labor-rule-would-make-contractors-into-employees-2022-10-11/
>Gig company stocks were hammered on the news, with Uber (UBER.N), Lyft (LYFT.O) and DoorDash (DASH.N) all falling at least 10%. Groups representing employers quickly criticized the rule.
>The proposal would require that workers be considered a company's employees, entitled to more benefits and legal protections than contractors, when they are "economically dependent" on the company. It could have wide-ranging impacts on company profits and hiring, household incomes and worker quality of life.
>The Labor Department said it will consider the worker's "opportunity for profit or loss, investment, permanency, the degree of control by the employer over the worker, (and) whether the work is an integral part of the employer’s business," among other factors.
https://www.reuters.com/world/us/new-biden-labor-rule-would-make-contractors-into-employees-2022-10-11/
