Taxi drivers blame ride-sharing services for cabbie suicides

Posted: Updated:
NEW YORK -

New York taxi drivers propped up coffins outside City Hall Wednesday in a protest against ride-sharing apps. 

They say ride-sharing services like Uber and Lyft have led to "financial devastation" for cab drivers -- a problem so serious that four cabbies have killed themselves within the last few months, according to the protesters.

For decades, taxis have operated under the city's heavily regulated medallion system. Uber and Lyft operate without those regulations, so the taxi industry is calling for new regulations on ride-sharing companies, like a cap on the amount of for-hire vehicles on the city's streets.

Interestingly, some Uber drivers joined the protest, saying their wages are unsustainable and that they are being pushed into poverty.

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