Uber drivers are taking action against the company's 15 percent cut in New York City fares. From noon until 2 p.m. Monday, drivers protested outside the company's Long Island City office against a price reduction feared to hit their paychecks.

According to CNN, the company takes a 20 to 25 percent share of fares, while the city charges 8.875 percent in sales tax. The minimum UberX fare is now $7, down from $8, but drivers will earn significantly less than that.

Uber said the price cuts are intended to increase demand in an otherwise quiet season. "The last time we reduced rates, UberX trips in the outer boroughs more than doubled, and today a third of all trips begin in the outer boroughs," the company said in a blog post.

Uber also said it will guarantee earnings for drivers, to avoid any losses, with a minimum hourly rate of between $30 to $40 depending on the time of day. However, the minimum rate does not factor in Uber's cut and city sales tax.

It's not the first time drivers have clashed with Uber. In September 2014, protesters gathered outside the Long Island City office to oppose rule changes that meant SUV drivers had to pick up UberX passengers. Protesters said the company's wages were not enough to live on.

With the new February 2016 rates, a trip from midtown Manhattan to LaGuardia Airport will now be priced at $37.12, whereas before it was $43.67.

The company previously cut prices in July 2014. Average hourly earnings increased by 33 percent, thanks to more trips, while average idle minutes per hour were reduced by 42 percent, according to Uber.