: Uber CEO: We could go dark in California if we have to classify drivers as employees

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Uber Technologies Inc. Chief Executive Dara Khosrowshahi said Wednesday that he could shut down the company’s ride-hailing operations in its home state of California after being told he must treat drivers as employees in the state. Speaking on MSNBC, he said “If the court doesn’t reconsider, then in California, it’s hard to believe we’ll be able to switch our model to full-time employment quickly.” A judge ruled Monday afternoon that Uber UBER and Lyft Inc. LYFTmust reclassify drivers based on a court decision made more than two years ago that was codified into law in California last year. State and local officials sued Uber and Lyft earlier this year to get them to comply with the law, leading to the judge’s temporary injunction ahead of a trial in which Uber will seek to claim the law is unconstitutional. Uber stock declined as reports about Khosrowshahi’s statement trickled out Monday morning, falling from a high of $32.22 early in the session to a low of $31.02. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.