Uber (UBER) intends to propose a reduction to New York City drivers’ base pay rate, among other recommendations, as it aims to cut prices of rides in the market, Bloomberg’s Natalie Lung reports. The ride-hailing giant would like the city’s Taxi and Limousine Commission to lower the per-mile rate in its driver pay formula by 6.1% to $1.277 from the current $1.360, the author says, noting a letter Uber plans to deliver to the commission on Monday.
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