RIDEGURU
I didn't know this.
Uber says it has reached settlements with a large majority of the 60,000 drivers in the United States who filed arbitration demands over their employment status.
Uber (UBER) disclosed the settlement was disclosed in a regulatory filing with the Securities and Exchange Commission Thursday just ahead of its initial public offering. Uber said the settlement will cost it between $146 million and $170 million. It had already set aside $132 million in anticipation of reaching a settlement.
It's not the first time the company paid a large sum to drivers over the same classification dispute. The company owed $20 million in a settlement with thousands of drivers in Massachusetts and California earlier this year.
The article is too vague. Come on, CNN.
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