Newsom, California lawmakers reach pact with Uber, Lyft on unions, LA Times says

California governor Gavin Newsom as well as other state lawmaker announced an agreement with Uber (UBER) and Lyft (LYFT) on legislation that would let hundreds of thousands of rideshare drivers create unions and bargain collectively while still being classified as independent contractors, the Los Angeles Times’ Laura J. Nelson and Suhauna Hussain report. Newsom, Assembly Speaker Robert Rivas and Senate Pro Tem Mike McGuire said they were supporting a compromise that would advance the collective bargaining bill out of the state legislature along with a measure sponsored by Uber and Lyft that would reduce the companies’ insurance requirements, the authors note.