Ride-sharing giant Uber conceded a major victory for workers’ rights activists with the announcement it will reclassify its 70,000 U.K. drivers as workers and give them benefits like minimum wage, paid holidays and enrollment in a retirement plan, a move that is sure to affect the company’s business model.

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Uber Will Reclassify U.K. Drivers As Workers, A First For The Ride-Share Giant | Forbes