Shares of Delivery Hero SE tumbled sharply on Monday after the German company said it would shift to an employment-based model for its freelance delivery riders in Spain.

Delivery Hero (XE:DHER) stock tumbled over 8% in local trading. Spain passed a "rider law" in 2021 that required delivery companies to directly employ riders instead of using independent contractors.

STORY: Delivery Hero has announced a big change to its employment model at its Glovo unit in Spain.It said on Monday (Dec 2) freelance riders will now be hired as employees.The company said it ...

EQS Group Dec. 2, 2024, 02:20 AM EQS-Ad-hoc: Delivery Hero SE / Key word (s): Legal Matter Delivery Hero SE: Glovo decides to move to employment based model for delivery riders in Spain and ...

Delivery Hero will hire freelance riders at its Glovo unit in Spain as full-time employees, the food delivery firm said on Monday, warning of a 100 million euro ($105 million) hit to earnings and ...

Shares in Delivery Hero plunged after the company said its Spanish subsidiary would implement an employment-based model in the country, a move expected to hit profits by around $106 million in ...

Thousands of delivery drivers in Spain working for the food delivery app Glovo will soon be full employees after the company announced Monday that it was moving to an employment-based model.

Investing.com -- Delivery Hero's (ETR:DHER) shares dropped by over 11% after the company announced it would begin employing delivery riders in Spain. This move follows a series of legal and regulatory ...

App-based food delivery firm Glovo’s freelance riders in Spain will be hired as employees following pressure from the government to give them labour contracts, its German owners Delivery Hero ...

Shares in Delivery Hero plunged after the company said its Spanish subsidiary would implement an employment-based model in the country, a move expected to hit profits by around $106 million in ...