Uber, Lyft Win California Bid to Keep Drivers as Contractors (2)

Gig economy giants including Uber Technologies Inc., Lyft Inc. and DoorDash Inc. have won their effort to pass a hotly contested ballot measure that will exempt the companies from a state law requiring them to classify most of their workers as employees.

Uber and Lyft soared more than 14% in pre-market trade after California voters, in the most expensive ballot initiative in state history, approved a ballot measure exempting gig-economy companies from the state labor law known as A.B. 5. Almost 58% of voters were supporting the proposition versus 42% against, with more than 80% of the vote reported, ...