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☆ Lilly Ledbetter, who sued Goodyear for gender discrimination and was an equal pay activist, dies at 86
  + stars: | 2024-10-13 | by ( Steve Almasy | ) edition.cnn.com   time to read: +4 min
CNN —Lilly Ledbetter, whose gender pay equity legal fight was the inspiration for the Fair Pay Act of 2009, has died at age 86, according to the team making a film about her life. In the 1990s, after 19 years of working for Goodyear, Ledbetter learned she had been making thousands of dollars less each month that other – male – managers. When Barack Obama became president the first bill he signed into law was the Lilly Ledbetter Fair Pay Act. “My heart is with Lilly Ledbetter and her loved ones as they mourn her passing,” he said. “Lilly Ledbetter fought tirelessly for equal pay for men and women.
Persons: CNN — Lilly Ledbetter, Ledbetter, AL.com, Goodyear, Barack Obama, Lilly, ”, “ I’ll, ” Obama, “ Lilly, “ Michelle, Chuck Schumer, Lilly Ledbetter, “, –, “ Lilly Ledbetter, Marc Benioff, ” Benioff, hasn’t, Chuy Garcia, Lilly’s, ” Garcia, Deborah Vagins, CNN’s Vanessa Yurkevich, Jeanne Sahadi Organizations: CNN, Goodyear, AFL, American Federation of Labor, Industrial, Congress, White, National Committee, Pay Equity Locations: backpay
☆ Silicon Valley layoffs go from bad to worse
  + stars: | 2023-01-09 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +6 min
At Amazon and other tech companies, the second half of last year was marked by hiring freezes, layoffs and other cost-cutting measures at a number of household names in Silicon Valley. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. While there have been some layoffs recently in the consumer goods sector and hints of more to come elsewhere, the situation in Silicon Valley remains in stark contrast to the economy as a whole. And despite the robust overall labor market, there are growing concerns that tech layoffs could spread elsewhere. In that sense, at least, Silicon Valley may once again be ahead of the curve, but not in the way it wants.
☆ Salesforce to cut workforce by 10% after pandemic hiring spree
  + stars: | 2023-01-04 | by ( ) www.nbcnews.com   time to read: +1 min
Salesforce plans to cut its workforce by 10% and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with “too many people” amid an economic slowdown, sending its shares up 5%. The cloud-based software company said on Wednesday it expects between $1.4 billion and $2.1 billion in charges due to the job cuts, of which about $800 million to $1 billion will be recorded in the fourth quarter. Businesses that relied on cloud services during the pandemic are now trying to reduce expenses through job cuts or delaying new projects, hurting companies such as Salesforce and Microsoft. “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that,” Benioff added. Salesforce had 73,541 employees at the end of January last year, a 30% jump from 2021.
☆ Salesforce to cut about 10% of staff
  + stars: | 2023-01-04 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +3 min
CNN —Salesforce said Wednesday that it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard. “I’ve been thinking a lot about how we came to this moment,” Benioff wrote. Like Benioff, a number of other tech founders and CEOs have since admitted they failed to accurately gauge pandemic demand. As a result, tech firms including Amazon and Meta have announced company-wide layoffs. And most of all, please lean on your leadership, including me, as we work through this difficult time together.”
☆ Forget a soft landing. The market’s best hope is a ‘growth’ recession
  + stars: | 2022-09-26 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
It wants to achieve a soft landing — that Goldilocks ideal of cooling the economy enough to bring down prices but not enough to cause a recession. The new aim appears to be for a so-called growth recession: A prolonged period of meager growth and rising unemployment. The pain is sharper and lasts longer than that of a soft landing, but a “growth” recession doesn’t pull the entire economy into contraction the way a proper recession would. It looks like a recession, and feels like a recession, but it isn’t a recession — at least not officially. A growth recession is still painful.
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