Uber, Lyft to exit Minneapolis due to ride-hailing pay hike rule, Fox 9 reports

Uber (UBER) says it will pull out of the entire Twin Cities metro starting May 1 after the Minneapolis City Council voted 10-3 to override Mayor Jacob Frey’s veto of a ride-hailing pay raise ordinance, reported a local Fox News affiliate. In a statement issued Thursday afternoon to Fox 9, Uber wrote: “We are disappointed the Council chose to ignore the data and kick Uber out of the Twin Cities, putting 10,000 people out of work and leaving many stranded. But we know that by working together with all stakeholders – drivers, riders and state leaders – we can achieve comprehensive statewide legislation that guarantees drivers a fair minimum wage, protects their independence and keeps rideshare affordable.” Lyft (LYFT) issued a similar statement with the same deadline to stop service in Minneapolis, Fox 9 noted.