Lyft Lets Drivers Keep 70% of Earnings Amid DOL Rule Shift (1)

Lyft Inc. rideshare drivers will now have guaranteed weekly earnings and receive detailed pay stubs under a new policy announced by the company’s CEO on Tuesday.

“Our commitment is that drivers will earn 70% or more of rider payments each week, after external fees. Guaranteed,” Lyft CEO David Risher said in a blog post, “It’s a rock-solid floor: as a driver, if you’re ever under 70% at the end of the week, you’ll be paid the difference.”

Approximately 15 out of 100 drivers earned less than 70% of what riders paid, after external fees, during any given week in ...