Yahoo Finance Uber is paying drivers up to $40,000 EACH: Here's why
Uber drivers around the world are set to receive up to US$40,000 (A$56,771) as a “driver appreciation reward” ahead of its initial public offering (IPO) on the US sharemarket.
The company announced in a Securities and Exchange Commission filing published on Friday that it would pay around US$300 million to its more than 1.1 million drivers worldwide.
It expects to make the payments on or around April 27.
“To acknowledge drivers who have participated in our success, we are paying a one-time cash driver appreciation reward to qualifying drivers in jurisdictions where we operate through owned operations,” Uber said in the filing.
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How much will Aussie Uber drivers get?
Tens of millions of dollars worth of bonus payments will be distributed by Uber to about 5000 Australian drivers, the SMH reports.
According to SMH around 170 Australian Uber drivers, who have driven more than 20,000 trips, were told last week that they would be paid a $14,040 bonus ahead of the IPO.
However, drivers who have completed 10,000 trips will only received $1400; those who have completed 5000 trips will receive $700; and a driver who has completed 2500 trips will receive $140.
Those in line for the highest amount were being awarded for being there "for the rush to work, first dates, surprise visits and everything in between”, the SMH said.
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