SPY444.34+6.48 1.48%
DIA348.29+5.79 1.69%
IXIC15,066.39+169.55 1.14%

DiDi, Alibaba's Latest Strategy To Counter Tech Crackdown

Benzinga · 09/01/2021 07:20
  • China's Uber Technologies (NYSE:UBER) equivalent DiDi Global Inc (NYSE:DIDI) is exploring a landmark move to set up a union for its staff, Reuters reports.
  • The company's Beijing headquarters' employees will manage the union, and the government-backed All-China Federation of Trade Unions (ACTFU) will guide the union.
  • The union will likely welcome Didi's drivers lacking full employee benefits, Bloomberg reports
  • Didi had recently introduced a driver pay transparency feature in its app amid criticism. In July, China issued guidance on safeguarding the rights of gig economy workers and suggested the formation of unions.
  • Food delivery leader Meituan (OTC:MPNGY) is also studying the feasibility of internal labor rights organizations. Alibaba Group Holding Ltd (NYSE:BABA) employees also harbor similar aspirations.
  • In the U.S., Amazon.com Inc's (NASDAQ:AMZN) Alabama workers had opposed joining a union earlier this year.
  • Price Action: DIDI shares traded higher by 0.73% at $8.22 in the premarket session on the last check Wednesday.