DENVER - Uber is hoping to beat the "winter slump" by cutting rates and guaranteeing earnings for drivers.

"It’s January, and for most people that means bad weather, staying in, and

saving money," the Uber website states.

"...when people hunker down at home, demand for rides drops," Uber said in a blog post. "Fewer trips are tough on drivers, many of whom want to save money and pay off their holiday credit card bills."

The company is cutting fares for its UberX service by 10 percent to help increase business this month. UberX is the cheapest service. The company also offers Taxi, Black, SUV and LUX options.

Fares have been reduced in more than 100 U.S. and Canadian cities, including Denver, according to our partners at the Denver Post.

Despite the rate cut, Uber drivers will be guaranteed earnings during January, the blog post states.

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