Uber: Who is this mysterious group of investors who want to publish sensitive information ?

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SOC Investment Group is the name of an investor organization that represents the interests of several major labor unions in the United States. This group, known for its spectacular actions at the general meetings of large companies, has just launched an offensive at Uber to obtain more transparency regarding driver compensation. Let's take stock.

Forcing Uber to act

In concrete terms, this organization weighs less than 1% in Uber's capital, but it is enough to propose a resolution at the general meeting to be held next year. This provision would require the company to disclose in more detail the compensation of its drivers.

In detail, SOC considers that Uber is ” unusually opaque “on these issues and leaves investors in the dark about the amount of commissions received, as well as how drivers’ pay has changed over time. The signatories to the request also argue that it is unclear whether these workers have a “living income”.

Uber declined to comment, but it responded to the shareholder group by email asking them to withdraw its resolution. The company says the current level of disclosure is appropriate.

In any case, it is a thorn in the side of the company. SOC Investment Group is well known for its regular stunts that have already forced very large companies to react. Its action thus forced McDonald's to check how its practices could potentially contribute to social and racial inequalities, recalls the agency in this regard Bloomberg.

The delicate question of remuneration

It will therefore be interesting to see if this latest attempt is successful and leads Uber to be more open in its data. As a reminder, the issue of driver compensation and status has always been a sensitive subject for Uber.

In the past, various jurisdictions around the world have also considered that the latter's independent status was not justified and that they should be considered employees. A major difference that grants them paid leave and improved working conditions, but which also impacts the company's model.

What to remember:

• SOC Investment Group, a shareholder organization that represents the interests of unions, is demanding accountability from Uber
• The idea is to force the company to be more transparent about driver compensation
• For now, the company is refusing to do so and believes that the data published is already sufficient

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