Salem Radio Network News Monday, January 24, 2022

Business

Fears about new EU gig economy rules hit Deliveroo, Just Eat Takeaway

LONDON (Reuters) – Speculation that the European Commission is set to propose strict labour rules to regulate the gig economy have sent shares of companies in the sector sharply lower on Monday.

Deliveroo, Just Eat Takeaway, Delivery Hero were down 5.6%, 4.6% and 4.1% respectively.

“We see a potentially significant gross profit impact for Deliveroo if European gig economy workers are to be treated as employees rather than contractors”, analysts at Citi wrote in a note about how the new regulation could impact the sector.

(Reporting by Julien Ponthus; Editing by Rachel Armstrong)

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