Thousands of New York City ride-hailing drivers will go on a massive strike May 8 (Wednesday) to protest low wages and unfair employment conditions by firms such as Uber Technologies Inc. and Lyft.

They will strike for two hours beginning at 7:00 a.m. ET (1100 GMT). After the strike, drivers will assemble and protest in front of the Uber and Lyft headquarters in New York at 1:00 p.m. Uber, Lyft, Juno and Via are New York’s leading ride-hailing firms.

New York ride-hailing drivers will join comrades in San Francisco, Chicago, Los Angeles, San Diego, Philadelphia and Washington, D.C., in the strike.

The New York Taxi Workers Alliance (NYTWA) said ride-hailing drivers are demanding job security, livable incomes and a cap on the amount ride-hailing companies can collect from fares.

Drivers are demanding Uber reverse the 25 percent rate cut and guarantee drivers a $28 per-hour minimum rate. Uber hasn’t committed to meet these demands, however. Drivers striking in Los Angeles said they don’t want to earn the same amount they did six months ago.

“Uber claims that we are independent contractors even though they set our rates and control our work day,” said Sonam Lama, a NYTWA member and Uber driver since 2015.

“Uber executives are getting rich off of our work. They should treat us with respect. We are striking to send a message that drivers will keep rising up.”

A Lyft driver said he voted “to go on strike because drivers need job security.”

The strike comes a day before Uber’s plan to price its IPO. Uber will begin trading at the New York Stock Exchange on Friday. It hopes to be valued at between $80.5 billion and $91.5 billion.

Ride-sharing companies are being blasted by taxi unions for devaluing hired car transportation. Media reports said a number of taxi drivers have committed suicide due to their inability to meet their taxi medallion debts.

Ride-share drivers are also protesting their low wages while Uber and Lyft executives walk away with millions.

“In the IPO filing, Uber said drivers will only get more dissatisfied because they plan to cut our pay and stop incentives. We don't want our wages to stay just minimum,” said Lama.

“We want Uber to answer to us, not to investors. The gig economy is all about exploiting workers by taking away our rights. It has to stop. Uber is the worst actor in the gig economy. Uber claims that we are independent contractors even though they set our rates and control our workday. Uber executives are getting rich off of our work, they should treat us with respect. We are striking to send a message that drivers will keep rising up."

A study by economists at the New School and the University of California Berkeley found more than half of ride-hailing drivers ferry passengers on a full-time basis. About half of all drivers support families with children on that income.

Uber app
A smartphone showing the Uber app and nearby Uber taxis. Uber posted a huge loss in 2018 ahead of its eagerly anticipated IPO. Sean Gallup/Getty Images

More disturbingly, ride-hailing earnings are so low that 40 percent of drivers qualified for Medicaid, and 18 percent qualified for food stamps.

The report reveals that the median hourly wage for app-based drivers in New York is only $14 an hour.

“The app companies could easily absorb an increase in driver pay with a minimal fare adjustment and little inconvenience to passengers,” according to the report.