"Uber and Lyft Cease Minneapolis Operations Due to New Minimum Wage Law"

Uber and Lyft will cease operations in Minneapolis due to a new minimum wage law for rideshare drivers, which mandates a $15.57 per hour local minimum wage, effective May 1st. The city council's override of the mayor's veto prompted the decision, with both companies expressing concerns about the sustainability and affordability of their operations. Mayor Jacob Frey supports higher pay for drivers but opposes the ordinance, citing discrepancies with a state study on driver compensation. The move has sparked debate over the impact on workers and the gig economy, as municipal leaders are urged to find a solution before the impending changes.