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☆ Disney paid ValueAct millions in fees before winning its support in proxy fight, activist says
▼ + stars: | 2024-03-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Blackwells Capital, which previously voiced support for Iger and Disney management, said ValueAct had been managing more than $350 million in Disney pension funds in a relationship stretching back to 2013. Blackwells has estimated that Disney paid a cumulative $95 million in fees to ValueAct from 2014 to 2022. Disney and Trian have been in the throes of a proxy fight since October, with the fight intensifying as Disney's annual shareholder meeting nears. Disney has repeatedly voiced its support for Iger and has highlighted that its directors have experience overseeing successful succession planning. Representatives for Disney, Blackwells and ValueAct did not respond to requests for comment outside of normal business hours.

Persons: Robert Iger, Blackwells, Mason Morfit, ValueAct, Bob Iger, Nelson Peltz's Trian, Trian, Bob Chapek, Peltz Organizations: Disney, Dolby Theatre, ValueAct Capital, Nelson Peltz's Trian Partners, Blackwells, Department of Labor Locations: Hollywood , California, Iger

☆ Owners and managers at some Washington Subway stores kept $80,000 in staff tips and reduced workers' hours on their timecards, a federal agency says
▼ + stars: | 2024-03-08 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Owners and managers at 10 Subway stores in Washington state illegally took money from staff tip pools, the Labor Department says. The stores also reduced staff's hours on their timecards to avoid paying overtime, the DOL said. The stores have now given $196,000 in tips, overtime wages, and liquidated damages to 100 affected workers. AdvertisementOwners and managers at 10 Subway stores in Washington state illegally kept $80,000 in staff tips, the Department of Labor says. Under the Fair Labor Standards Act , business owners and managers are not allowed to participate in staff tip pools.

Persons: DOL, —, timesheets Organizations: Labor Department, Service, Department of Labor, Fair Labor, Act, Business Locations: Washington

☆ CNBC Daily Open: Upbeat sentiment over U.S. growth
▼ + stars: | 2024-02-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Job seekers attend a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Growth would have been faster in the fiscal fourth quarter if not for a sales reorganization, the company said. That's Super Micro Computer, a Nasdaq-listed company which makes AI systems and graphics processing unit servers, highlighted Louis Navellier, chairman and founder of Navellier & Associates.

Persons: Dow, Dimon, Jamie Dimon, Taylor Swift, Louis Navellier Organizations: The Department of Labor, CNBC, CSI, Nikkei, Nasdaq, Revenue, optimist, Nvidia, Navellier, Associates Locations: Long Beach , California, Asia, Pacific, Singapore

☆ How much Netflix pays employees in jobs ranging from administrative assistant to engineer, according to salary data
▼ + stars: | 2024-02-26 | by ( Ashley Rodriguez | Lucia Moses | ) www.businessinsider.com time to read: +1 min

Business Insider analyzed public data to capture how much Netflix employees make in the US. The streaming company has offered some US staffers salaries between $72,000 to $1 million a year. With the company dominating in the streaming wars, Business Insider updated its analysis of how much Netflix employees make in the US. Netflix offered certain staffers between October 2021 and September 2023 base salaries ranging from $72,000 to $1 million a year for a variety of different roles, according to the data. Our full analysis breaks down salaries for jobs including data, product, and engineering; content and marketing; and finance, legal, and administrative roles.

Organizations: Netflix, Disney, US Department of Labor's, Foreign Labor

☆ Child care benefits at work: Employers are increasingly offering resources to parents with daycare needs
▼ + stars: | 2024-02-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

And among those that do, less than a third selected any single benefit such as subsidized child care services (11%), child care referrals and consultations (28%); and back up child care (26%), which gives parents access to a daycare center or babysitter when their usual child care arrangements fall through on a given day. Among those, 37% offer access to backup child care, 16% subsidize child care and 10% provide onsite child care. Among respondents who said they were thinking of quitting their jobs, 41% said their compensation was not high enough to cover child care costs, and 30% said they didn’t have adequate child care. An onsite child care center like one from Bright Horizons can provide licensed and trained care providers and well-qualified early education teachers. Other options to ease working parents’ experienceFor many employers, though, an onsite child care center may be tough to swing.

Persons: ”, Jessica Chang, “ Covid, ” Chang, Mercer, It’s, We’ve, Stephen Kraemer, Kraemer, hadn’t, Carmen Perez, Perez, Seda, Chang Organizations: New, New York CNN, US Department of Labor, US Department of Health, Human Services, Century Foundation, “ Employers, Adecco Group, Bright Locations: New York, United States, California

☆ Netflix salary data shows how much the company pays for 220 jobs across content, finance, marketing, and more
▼ + stars: | 2024-02-22 | by ( Ashley Rodriguez | Lucia Moses | ) www.businessinsider.com time to read: +3 min

To maintain its lead and fuel that expansion, Netflix is still hiring, if more slowly than in recent years. Like other US companies, Netflix discloses how much it plans to pay workers it hires on work visas. Netflix may pay employees more than the figures reflected in this data or compensate them in additional ways. While Netflix doesn't give bonuses, it does let employees choose each year how much compensation they want in cash versus stock options. Based on the Department of Labor data, Netflix offered annual base salaries ranging from roughly $72,000 to $1 million yearly, with a median of $184,080, for various roles.

Persons: It's, Read, Reed Hastings Organizations: Netflix, Disney, Business, US Department of Labor's, Foreign Labor, US Department of Labor, Department of Labor

☆ Sorry, parents: The American dream is only for DINKS
▼ + stars: | 2024-02-21 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Zillow determined that a family earning a median household income of $6,640 per month can expect to allocate $1,984 of that to childcare. It all adds up to a costly reality that's making the American dream of homeownership seem farther out of reach for parents than ever before. Based on the study, a new buyer household in the United States, making the median income, would spend 30% of it on housing. The upshot: Another group, less encumbered financially, appears better poised to realize the dream of homeownership: "DINKS," an acronym that stands for "dual income, no kids." "I paid $1,750 for rent in a crappy little apartment in California," Crossan told BI earlier this year.

Persons: —, Zillow, DINKS, Elizabeth Johnson, Johnson, Bartie Scott, Juliana Kaplan, Janelle Crossan, Crossan, Pengyu Cheng, Cheng Pengyu Cheng, Cheng Organizations: Service, US Department of Labor, Federal, Consumer Locations: Women’s, Los Angeles, San Diego, United States, Swiss, snorkeled, Hawaii, Canada, New Braunfels , Texas, Costa Mesa , California, California, Austin , Texas, Texas, San Francisco

☆ The racial wage gap starts as early as 16 for Black workers—and results in ‘a lifetime of consequences,’ says expert
▼ + stars: | 2024-02-15 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

The racial wage gap may be shrinking, but it's still got a ways to go. The median weekly earnings for full-time wage and salaried Black or African American 16-to-24-year-olds was $614. Though a smaller gap than the national one, that still works out to be about 82 cents to white workers' dollar. Children born in higher income and higher wealth families will have greater access to opportunities. Andre Perry Senior fellow at BrookingsThe resulting family wealth can hinder access to higher paying jobs as well.

Persons: it's, haven't, Andre Perry, Andre Perry Senior, Perry, Valerie Wilson Organizations: Nationwide, Department of Labor, Bureau of Labor Statistics, Brookings, Pew Research Center, BLS, Economic Policy Institute Locations: Brookings

☆ Coca-Cola CEO says inflation is moderating in most markets after higher prices boost revenue
▼ + stars: | 2024-02-13 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

James Quincey, CEO of Coca-Cola Co., speaking on "Squawk Box" at the WEF in Davos, Switzerland, on Jan. 18, 2023. Inflation is moderating in most markets, after a stretch in which the beverage maker relied on price hikes to drive higher revenue, Coca-Cola CEO James Quincey said Tuesday. But Coke's price hikes have slowed from the last two years' double-digit increases. Coke's overall prices were up 9% in the fourth quarter, but Quincey said that came from hyperinflation in markets such as Argentina. In the majority of Coke's markets, shoppers were only paying about 3.5% more for their drinks than they were a year earlier.

Persons: James Quincey, Coke, Wall, Quincey Organizations: U.S . Department of Labor, Coke, Consumers, U.S, CNBC PRO Locations: Davos, Switzerland, Argentina, U.S, Europe

☆ Opinion | Protecting the Rights of Independent Contractors
▼ + stars: | 2024-02-08 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “The ‘Gig’ Label Is Being Used to Exploit Workers,” by Terri Gerstein (Opinion guest essay, Jan. 29):We are the freelance writers and editors Ms. Gerstein mentioned who are suing the Department of Labor over the independent contractor rule that will, as she said, “make it harder for employers to treat workers as independent contractors rather than employees.” So let us explain. The independent contractor rule is just the latest in the Biden administration’s ongoing freelance-busting assault on our rights to be in business for ourselves. Like the vast majority of independent contractors in America, we choose self-employment. This rule, slated to take effect on March 11, will restrict our right to engage in business contracts with our clients on our own terms. We hope the district court will invalidate the rule and protect our careers.

Persons: Terri Gerstein, Jan, Gerstein Organizations: Department of Labor, Department, Labor, Biden Locations: America

“Mar-Jac and its affiliates have a long and sordid history of willful disregard for worker safety,” the lawsuit reads. In July, Duvan became the third worker to die in less than three years at the Hattiesburg, Mississippi, plant owned by Mar-Jac, a Georgia-based poultry production company. After Duvan's death, Onin filed a notice with the state to avoid paying worker's compensation,the lawsuit claims. OSHA had issued at least eight citations for safety violations at the plant before Duvan's death, the lawsuit says. After the accident, Labor Department officials said Duvan’s death offered a reminder that children remain vulnerable to exploitation in the U.S. workplace.

Persons: JACKSON, Edilma Perez Ramirez, Mar, Jac, Duvan Perez, “, Duvan, Joel Velasco Toto, Bobby Butler, Perez Ramirez, Onin, Toto, Butler, Seth Hunter, Perez Ramirez's, Chick, ” Hunter, ___ Michael Goldberg Organizations: U.S . Department, Safety, Health Administration, Mar, OSHA, Onin Staffing, Labor, Associated Press, America Statehouse News Initiative, America Locations: Miss, Mississippi, Forest, Guatemala, Hattiesburg , Mississippi, Georgia, Alabama, U.S, @mikergoldberg

☆ Dollar keeps tight ranges ahead of Fed, jobs data
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: +3 min

A Chinese 100 yuan banknote, a 1 U.S. dollar bill and a 50 euro banknote are lying on a table. The dollar was steady in the Asian morning, with market participants moving cautiously ahead of the two-day FOMC meeting that kicks off on Tuesday. "I suspect that the FOMC meeting will not be as dovish as current market pricing suggests," said Matt Simpson, senior market analyst at City Index. The data will give another indication of whether the world's largest economy remains strong after the Fed's aggressive hiking campaign. Sterling was last trading at $1.2716, holding firm ahead of the Bank of England's monetary policy meeting this week.

Persons: Jerome Powell, Matt Simpson, hasn't, Sterling, Wei Liang Chang Organizations: U.S . Department of Labor, U.S ., Central Bank, Bank, DBS, Fed Locations: U.S

☆ Chipotle wants to hire 19,000 workers for busy spring season, will offer new financial perks
▼ + stars: | 2024-01-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

A "Now Hiring" sign is displayed in front of a Chipotle restaurant on October 07, 2022 in Washington, DC. Hundreds of thousands of restaurant jobs disappeared as bars and eateries shuttered, either temporarily or permanently. But even before Covid, restaurants struggled to hire and retain younger workers, who often seek internships instead. Chipotle on Wednesday also touted new benefits that aim to help those younger workers tackle financial challenges. Additionally, Chipotle workers can also sign up for a Credi.ai debit card, which builds credit without fees or interest.

Persons: Chipotle Organizations: Industry, of Labor Locations: Washington ,, Covid

☆ The crisis at Kyte Baby might not have happened if the US had a mandated paid leave policy for new parents
▼ + stars: | 2024-01-23 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

What’s more, almost all OECD countries have paid leave programs around childbirth for mothers and fathers, whether they are birth parents, adoptive parents or same sex parents. Looking more globally, “approximately 83% of countries guarantee at least 12 weeks of paid leave to parents who give birth,” according to the paid leave advocacy group FamilyValues@Work. “Nobody knows what they have access to,” said paid leave expert Vicki Shabo, a fellow at the policy research think tank New America. (Among state and local government workers, 28% have access to paid family leave today.) At the national level, however, there is still not a federal program for paid leave, despite legislative efforts in recent years to pass one in Congress.

Persons: Kyte, Ying Liu, ”, Vicki Shabo, Mercer, WTW, “, —, CNN’s Eva Rothenberg Organizations: New, New York CNN, Organization for Economic Cooperation, Development, OECD, America . Nine, District of Columbia, Bureau of Labor Statistics, US Department of Labor, CNN Locations: New York, United States, Greece, New America, Mercer

☆ TikTok salary data: How much employees in different jobs make, from data scientist to software engineer
▼ + stars: | 2024-01-22 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +2 min

Business Insider combed through public data to get a snapshot of how much TikTok pays US employees. TikTok and owner ByteDance have offered base salaries between $29 an hour and $455,600 a year. Related storiesBusiness Insider updated its analysis of how much TikTok employees make in the US, based on 2,517 US work-visa applications with salary data for around 965 jobs. The data includes base salaries only, not forms of compensation such as stock options or cash bonuses. AdvertisementOur full analysis breaks down salaries for jobs including product and engineering, data and research, e-commerce, and monetization and partnership-focused roles.

Persons: TikTok, ByteDance, —, It's Organizations: . Business, Service, Google, US Department of Labor's, Foreign Labor, Companies, Data Security

☆ Kyte Baby in controversy after Marissa Hughes’ remote work request was denied, CEO apologizes
▼ + stars: | 2024-01-21 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +8 min

New York CNN —The CEO of Texas-based baby clothing company Kyte Baby has issued two apologies after denying a remote work request by an employee whose baby was admitted into a neonatal intensive care unit. “We work at Kyte Baby: Of course we’re going to bring our kids to work,” an employee says in one TikTok video. “We work at Kyte Baby: Of course we’re expecting,” another chimes in. Another video titled “Meet the Kyte Baby Team” introduces various Kyte Baby employees, each dancing with a child or two in tow. According to a survey published by Bankrate that same month, 77% percent of full-time working women with children under the age of 18 support hybrid work schedules, while 74% support remote work.

Persons: Kyte Baby, Kyte, Marissa Hughes, ” Hughes, Hughes, Ying Liu, “ Kyte, Liu, ”, ” Lauren Jennings, Alison Brod, James Haggerty, ” Jennings, “, ’, It’s, ” Kyte Baby, “ Marissa, Bankrate Organizations: New, New York CNN, Alison Brod Marketing, Communications, CNN, Brookings, Department, Labor’s Locations: New York, Texas, America, United States

☆ Premarket stocks: Buybacks could rebound this earnings season
▼ + stars: | 2024-01-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Stock buybacks struggled to recover last year after taking a hit in 2022, even as corporate earnings began to rebound. Investors view buybacks as an indication that a company’s leadership believes its own shares are undervalued and are confident about its future performance. Buybacks also tend to push up share prices due to the added demand. ONEOK, a natural gas company, on Wednesday unveiled a $2 billion share repurchase program. The week’s total for initial claims landed far below economists’ projections for 205,000 initial claims, according to FactSet estimates.

Persons: Stock buybacks, Buybacks, buybacks, “, ”, Howard Silverblatt, Dow, Sundar Pichai, Brian Fung, Pichai, ” Pichai, Read, —, Alicia Wallace Organizations: CNN Business, Bell, New York CNN, Deutsche Bank, Wednesday, Deutsche, Federal Deposit Insurance Corporation, Dow Jones, Google, CNN, of Labor Locations: New York, Lennar, buybacks

☆ Consumer sentiment surges while inflation outlook dips, University of Michigan survey shows
▼ + stars: | 2024-01-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The University of Michigan's Consumer Survey of Consumers showed a reading of 78.8 for January, its highest level since July 2021 and up 21.4% from a year ago. On a two-month basis, sentiment showed its largest increase since 1991, said Joanne Hsu, the survey's director. "Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations," Hsu said. Along with the improved outlook on general conditions, survey respondents displayed more confidence that inflation is coming down. The outlook for the inflation rate a year from now declined to 2.9%, down from 3.1% in December for the lowest reading since December 2020.

Persons: Joanne Hsu, Hsu, Andrew Hunter, Stocks Organizations: Veteran, The Department of Labor, The University of Michigan's Consumer Survey, Consumers, Republicans, Federal Reserve, AAA, Capital Economics Locations: Long Beach , California

☆ Egg prices are on the rise again. Here's why
▼ + stars: | 2024-01-19 | by ( Greg Iacurci | ) www.cnbc.com time to read: +1 min

Brandon Bell | Getty Images News | Getty ImagesEgg prices are on the rise again, after having fallen from record highs in 2023. Average egg prices jumped 8.9% from November to December, following a 2.2% rise the prior month, according to the consumer price index. December's egg price move was the largest relative to other items in the CPI basket, which measures prices of everything from concert tickets to furniture, electricity and prescription drugs. There are more than 368 million egg-laying chickens in the U.S., the USDA said. At the time, a farm group alleged that price gouging and profiteering among major egg suppliers also drove high prices in 2022, though some economists were skeptical that factor was at play.

Persons: Brandon Bell, Matthew Hatcher, Rispoli Organizations: Kroger, Getty, U.S . Department, Labor, Afp Locations: Houston , Texas, U.S

☆ How much TikTok pays employees in the US, from data scientists to software engineers, according to salary data
▼ + stars: | 2024-01-19 | by ( Ashley Rodriguez | Dan Whateley | ) www.businessinsider.com time to read: +109 min

Some examples of salary offers for corporate functions include:AdvertisementAccountant, Expense Management : $73,000: $73,000 HR Business Partner : $127,680 median; ranging from $90,000 to $182,880: $127,680 median; ranging from $90,000 to $182,880 HR Specialist: $114,000 median; ranging from $85,000 to $170,000DesignEmployees on the design team "shape the visual representation" of TikTok's products and business, creating "unique designs that are not just visually appealing, but also express the aesthetic of our brand," the company wrote. : $320,000: $320,000 Android Software Engineer, TikTok Monetization : $210,000: $210,000 Android Software Engineer, TikTok Privacy : $190,000: $190,000 Android Software Engineer, TikTok Social : $126,640 median; ranging from $65,000 to $288,000: $126,640 median; ranging from $65,000 to $288,000 Android Software Engineer, TikTok User Growth : $227,000 median; ranging from $221,000 to $233,000: $227,000 median; ranging from $221,000 to $233,000 Applied Machine Learning Engineer : $273,340 median; ranging from $180,000 to $306,000: $273,340 median; ranging from $180,000 to $306,000 Applied Machine Learning Engineer, Recommendation : $190,000: $190,000 AR Effects Interactive Engineer : $125,000: $125,000 AR Software Engineer : $125,000: $125,000 Audio Engineer : $75,000: $75,000 Backend Engineer : $128,000: $128,000 Backend Engineer, Ads Platform : $172,000 median; ranging from $125,000 to $240,000: $172,000 median; ranging from $125,000 to $240,000 Backend Engineer, Content Ecosystem : $222,360: $222,360 Backend Engineer, Lark Innovation : $160,000: $160,000 Backend Engineer, Machine Learning : $157,680 median; ranging from $157,680 to $175,000: $157,680 median; ranging from $157,680 to $175,000 Backend Engineer, Risk Systems : $295,000 median; ranging from $150,000 to $320,000: $295,000 median; ranging from $150,000 to $320,000 Backend Engineer, TikTok Ads Creative and Ecosystem : $250,000: $250,000 Backend Engineer, TikTok Ads Creativity and Ecosystem : $207,500 median; ranging from $175,000 to $240,000: $207,500 median; ranging from $175,000 to $240,000 Backend Engineer, TikTok Eng. : $220,000 median; ranging from $160,000 to $285,000 0 #NUM! Software Engineer, Computer Vision : $165,000 median; ranging from $165,000 to $200,000: $165,000 median; ranging from $165,000 to $200,000 Software Engineer, Computer Vision, Intelligent Creation : $200,000 median; ranging from $200,000 to $265,000: $200,000 median; ranging from $200,000 to $265,000 Software Engineer, Core Services : $204,000 median; ranging from $125,000 to $244,680: $204,000 median; ranging from $125,000 to $244,680 Software Engineer, Core Service, Application Security : $129,680: $129,680 Software Engineer, CRM : $175,000 median; ranging from $125,000 to $300,555: $175,000 median; ranging from $125,000 to $300,555 Software Engineer, Data Access Team : $230,000: $230,000 Software Engineer, Data Mining : $169,680: $169,680 Software Engineer, Data Mining USDS : $182,400: $182,400 Software Engineer, Data Platform : $186,000 median; ranging from $170,000 to $216,880: $186,000 median; ranging from $170,000 to $216,880 Software Engineer, Data Security and Compliance : $180,000: $180,000 Software Engineer, Database Kernel Development : $130,000 median; ranging from $128,000 to $220,000: $130,000 median; ranging from $128,000 to $220,000 Software Engineer, Distributed Storage System : $285,000 median; ranging from $180,000 to $285,000: $285,000 median; ranging from $180,000 to $285,000 Software Engineer, Engineering Productivity : $195,000: $195,000 Software Engineer, Front-End : $147,000: $147,000 Software Engineer, Front-End, Ads Technology : $125,000: $125,000 Software Engineer, Full Stack : $180,000: $180,000 Software Engineer, Full Stack, Ads Technology : $147,500 median; ranging from $125,000 to $170,000: $147,500 median; ranging from $125,000 to $170,000 Software Engineer, Full Stack, E-Commerce Engineering and Architecture : $205,000: $205,000 Software Engineer, Full Stack, Vertical Solutions : $220,000: $220,000 Software Engineer, Global E-Commerce Customer Business : $195,000 median; ranging from $133,240 to $225,000: $195,000 median; ranging from $133,240 to $225,000 Software Engineer, Global Payment : $161,000 median; ranging from $155,000 to $215,000: $161,000 median; ranging from $155,000 to $215,000 Software Engineer, Gov. and Experience, TikTok E-Commerce : $241,540 median; ranging from $219,680 to $263,400: $241,540 median; ranging from $219,680 to $263,400 Software Engineer, GPU Management : $128,000 $128,000 $128,000 0 #NUM!

Persons: —, It's, TikTok, it's, ByteDance, TikTok Eng, Tiktok Organizations: Service, Business, US, of Foreign Labor, Live, US Data Security, Security, US Department of Labor, Corporate, Employees, TikTok, Tech, Commerce, Marketing, Staff, Trust, Safety, Brand, Android Software, Computer, Global Agency Relations, Global Security Technology, Infrastructure Engineering, Android, Machine, Interactive, Systems, Data Systems, Engineer, Commerce Data Intelligence, Commerce Logistics, Chain, Logistics, Media, US Tech Services, Big, Business Intelligence, Protection, Network Security, Business Systems, Cash, Cloud, Networking Software, Public, Tech Service, Technology, Technology Systems, Infrastructure, Network Business, NA, Defense, US Tech Service, Analytics, Research, Mining, Solutions, Tech Services, Pico, Forensics, Development, Control, Financial, CRM, Global, Learning, Traffic, TCMS, Communications, Graphics, Monetization Technology, Management, Products, Resources, IDC Logistics, DevOps, IOS, GNE Global, Software, Procurement, Commerce Global, Strategic, Global Business, Merchant, Mobile Security, Mobile Software, Multimedia Research, Regional, Sound Engineering, Professional Services, Community, Relations, Real, Commerce Trading, Creative, Enterprise, Virtual Network, Storage, Data Security, Smart, Finance, ML Systems, Cloud Infrastructure, TikTok US Tech Services, Monetization Tech, Learning Systems, Core Services, Core Service, Data Mining, Engineering, Commerce Engineering, Mobile, Revenue Management Locations: ByteDance, TikTok, TikTok Commerce, America, Mexico, Americas, Commerce

☆ Jobless claims fall to lowest level since 2022, while CEO exits hit new high
▼ + stars: | 2024-01-18 | by ( Alicia Wallace | ) edition.cnn.com time to read: +4 min

New York CNN —The number of Americans making first-time claims for jobless benefits dropped last week to a level not seen since the fall of 2022, while CEO exits set a new high last year, according to fresh economic data released Thursday. There were an estimated 187,000 initial claims for unemployment insurance during the week that ended January 13, according to Department of Labor data released Thursday. That’s down by 16,000 claims from the week before and marked the lowest level of first-time claims — considered a proxy for layoffs — since September 24, 2022. Weekly claims data can be quite volatile and are frequently revised, and economists caution that some one-off influences — in this case, harsh weather and a new year — could be at play. “Historically, we’ve seen large economic shifts preceded by a surge in CEO exits,” Andrew Challenger, senior vice president of Challenger, Gray & Christmas, said in a statement.

Persons: —, ” Andrew Challenger, Challenger, ”, “, ” Matthew Martin, Ian Shepherdson, ” Shepherdson Organizations: New, New York CNN, of Labor, Challenger, ”, Oxford Economics, ’, ” Thursday’s Labor Department Locations: New York, US

☆ A 16-year-old employee at a poultry processor was killed after being pulled into a chicken deboning machine. The proposed fine for the Mississippi plant: $212,000
▼ + stars: | 2024-01-17 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

A Mississippi poultry plant is facing more than $200,000 in fines after a teen worker was killed. AdvertisementA Mississippi poultry processing plant is facing more than $200,000 in fines from the US Department of Labor after a 16-year-old contract employee was killed after being pulled into a chicken deboning machine. Related storiesOn July 14, 2023, Pérez was sanitizing a chicken deboning machine when he became caught in a rotating shaft and pulled into the machine, according to the OSHA report. AdvertisementThe teenager was the second worker killed at the Hattiesburg facility in a little over two years. "Only about two years later nothing has changed and the company continues to treat employee safety as an afterthought, putting its workers at risk," he added.

Persons: —, Mar, Jac, Duvan Tomas Pérez, Pérez, Kurt Petermeyer, Jac Poultry Organizations: Service, US Department of Labor, Occupational Safety, Health Administration, OSHA, Business, Immigrant Alliance for Justice, Equity, The New York Times, Department, Labor, Labor Department, The Times, Department of Labor Locations: Mississippi, Georgia, Guatemala, Hattiesburg

☆ Poultry processor hit with proposed $212,646 fine after second worker, a teen, killed by machine
▼ + stars: | 2024-01-16 | by ( Parija Bhatnagar | Parija Kavilanz | ) edition.cnn.com time to read: +3 min

The US Department of Labor is proposing a $212,646 fine against a Mississippi poultry processor after a 16-year-old sanitation worker was pulled into a chicken deboning machine and killed. The child became the second worker killed in just over two years at the plant. Mar-Jac Poultry, which could not immediately be reached for comment, operates facilities in Mississippi, Alabama, and Georgia. Mar-Jac Poultry told NBC News in October that the company has followed all safety procedures in the incident involving the teen worker. The DOL said the poultry processor currently is also under a separate child labor investigation by its wage and hour division.

Persons: Jac, Kurt Petermeyer, DOL, ” “, ” OSHA’s Petermayer Organizations: New, New York CNN, US Department of Labor, Department of Labor, Safety, Health Administration, OSHA, “, Jac Poultry, NBC News, Mar Locations: New York, Mississippi, Georgia, Hattiesburg , Mississippi, Atlanta, Mississippi , Alabama

When employees who contribute to a 401(k) plan leave a company, they have options for what to do with that money. The guidance investors receive from a financial professional or firm about handling old 401(k)s has been exempt from investment advice rules. And, there are different standards for financial advice. The Biden administration wants investment advice given when making these decisions to come from a fiduciary — and the Department of Labor has proposed rules to make that happen. They also argue that existing laws have been established to safeguard consumers seeking financial advice.

Persons: Biden, Labor Department's, Ann Wagner Organizations: Department of Labor, Finance, Labor, Financial, Capital Markets

☆ The tech sector is pouring billions of dollars into AI. But it keeps laying off humans
▼ + stars: | 2024-01-13 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

More than 5,500 tech layoffs less than two weeks into 2024The latest rounds of tech job cuts are occurring across a range of roles and in both Big Tech companies and smaller startups. There were some 262,682 tech industry layoffs recorded in 2023, per Layoffs.fyi data, after 164,969 cuts the previous year. Against that backdrop, the tech industry went on a remarkable hiring spree. Disparate impacts of tech job cuts come under scrutinyAs the tech industry layoffs continue, labor advocates and even lawmakers are taking notice. “Recent findings have consistently shown that minorities and women are vastly overrepresented in industry layoffs,” the letter said.

Persons: Roger Lee, Lee, Dropbox, Goldman Sachs, Parul, Koul, ”, Emanuel Cleaver, Missouri, Barbara Lee of, Julie Su Organizations: CNN, Big Tech, Tech, Google, Unity Software, ”, Chegg, IBM, Alphabet Workers, CWA, Democratic, American, Labor, Department of Labor Locations: Silicon Valley, Barbara Lee of California

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