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

December 6, 2021 admin Stock News 0

© Reuters. FILE PHOTO: A Deliveroo delivery rider cycles in London, Britain, March 31, 2021. REUTERS/Toby Melville/File Photo

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.

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