Regulators Focus on Enhancing Guidelines for Booming Multi-Billion Dollar GIG Economy

Jul 19, 2016, 08:30 ET from FN Media Group, LLC

CORAL SPRINGS, Florida, July 19, 2016 /PRNewswire/ --

As Internet Tech Companies explore innovative alternatives to employee & employer relationships, the size of the GIG economy or exact number of digital matching firms has caught the eye of regulators because it is impossible to determine from existing government data how large the GIG economy really is at this stage.  More and more people are earning supplemental income from digital platforms like Airbnb and Uber, but as this new economy grows, so do the regulation challenges.

In recent developments and happenings addressing GIG economy issues:  ShiftPixy, Inc. ("ShiftPixy® or the "Company")a disruptive Next Gen GIG Economy provider of unique insurance products, regulatory compliance services, proprietary human administration tools and variable labor force provider, that plans to enable unemployed, under-employed or part-time and/or full-time individuals to apply for variable shift work from businesses in their local market, today announced that, it has created a new hybrid type worker classification status, designed to avoid the pitfalls inherent in trying to classify shift workers as independent contractors in the traditional GIG Economy model… pitfalls which can lead to crippling litigation.

Just recently, a case was settled with GIG Economy giant Uber for up to $100 million over alleged worker misclassification..

Read the full ShiftPixy Press Release at: http://financialnewsmedia.com/profiles/pixy.html

It is no secret that perhaps the majority of the major players in the GIG Economy (Uber, Lyft, Instacart, Postmates, Etc…) have been sued or threatened with litigation… or are rightfully worried about the increasing possibility of litigation that is inherent in the traditional employee as independent contractor classification in the GIG model. And many fear that loss of the gig workforce structure, either by a wave of class-action lawsuits, intervention by regulators, or through the collective action of disgruntled workers, and the gig economy as it now exists may be in serious jeopardy.  Politicians are considering new legislation or regulations and savvy litigation attorneys are pursuing (and winning) judgments that could put many traditional model GIG Economy companies out of business.

Scott W. Absher, CEO of ShiftPixy said: "The ShiftPixy solution allows employers to avoid mandated regulatory costs and related burdens… it saves them both time and money… which is designed to give them a competitive edge. It also gives the misclassified independent contractor workers the opportunity to receive "full time" wages and healthcare coverage… to be treated as employees… because they ARE employees… they are ShiftPixy employees! The ShiftPixy Next Gen model is a "win-win" for the GIG Economy companies and workers alike. We believe the natural evolution from the classic model of GIG workers being problematically classified as independent contractors, is our best of both worlds model… They are our employees AND also remain working as if they were still independent contractors to ShiftPixy clients.

ShiftPixy Has Filed A Regulation A+ Offering Circular with the SEC; Will Use A New SEC Regulatory Framework That Allows Non-Accredited Investors The Opportunity To Invest in SEC Registered A+ IPO Offerings.  For more information go to: https://wrhambrecht.com/ipos/shiftpixy-inc-regulation-a-ipo/

In other stock news from around the markets: Workday, Inc. (NYSE: WDAY), a leader in enterprise cloud applications for finance and human resources, recently announced that it will host its financial analyst day on Tuesday, Sept. 27, 2016 in Chicago at 12:15 p.m. Pacific Time / 2:15 p.m. Central Time / 3:15 p.m. Eastern Time. The event will take place during Workday Rising 2016, the company's annual customer conference. A live webcast of the event will be available on Workday's Investor Relations site. The replay of the webcast will be available for 45 days.

Grubhub Inc. (NYSE: GRUB), the nation's leading online and mobile food-ordering and delivery platform, announced the launch of its new, faceted ratings and reviews system. The new system provides in-depth insights into three aspects of the takeout experience: accuracy of delivery time, order accuracy and food quality. It also raises the bar for transparency and trust in the online restaurant ratings and reviews space, with an unprecedented volume of diner-generated data and fraud prevention enhancements.

Paychex, Inc. (NASDAQ: PAYX), one of the nation's leading providers in retirement recordkeeping services for businesses, ranks as the largest recordkeeper by total number of defined contribution plans, according to a recent survey by PLANSPONSOR magazine, a national publication dedicated to the pension and retirement industry. Serving 72,000 plans, Paychex has earned this honor for six consecutive years.

Groupon, Inc. (NASDAQ: GRPN) and the Bronzeville Retail Initiative today announced the launch of 'Explore Bronzeville' - a neighborhood-wide Groupon promotion featuring experiences from more than 15 local businesses. The Bronzeville merchants, whose offerings range from mouthwatering restaurants to fun things to do, are simultaneously running promotions with Groupon to help drive greater Chicagoland awareness of everything to eat, see, do and buy in their historic neighborhood.

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