Personnel
A shallow recession is on the way, strategists warn. Here’s how it could play out
Traders work, as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE) in New York City, June 15, 2022. Brendan McDermid | Reuters A shallow recession in the U.S. is a “virtual certainty” in the third quarter, according to Destination Wealth Management’s […]
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Spotify is slowing hiring by 25%, CEO says
Drew Angerer / Getty Images Spotify is slowing hiring by 25%, CEO Daniel Ek said in an email to employees on Wednesday. It’s the latest signal that companies across tech, many of which grew significantly over the early stages of the pandemic, are cutting back on staff growth as economic uncertainty looms. While job growth […]
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Starbucks union: Company threatens that unionizing could jeopardize gender-affirming health care
A protester waves a sign near the Country Club Plaza Starbucks store where dozens of Starbucks employees and union supporters protested alleged anti-union tactics by the company Thursday, March 3, 2022. Jill Toyoshiba | Tribune News Service | Getty Images Starbucks is telling its baristas that unionizing could jeopardize the gender-affirming health care coverage for […]
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Coinbase lays off 18% of workforce as executives prepare for recession and ‘crypto winter’
Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices. The cryptocurrency exchange will cut 18% of full-time jobs, according […]
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Tesla fires Singapore country manager after Elon Musk warns of job cuts
Christopher Bousigues, the Singapore country manager from Tesla, said that his role has been cut as part of a global reduction in the electric carmaker’s workforce. Bousigues said he was responsible for launching the Model Y in Singapore. Bing Guan | Bloomberg | Getty Images Tesla has laid off its Singapore country manager just over […]
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Southwest Airlines is closing reservations centers as customer service agents go fully remote
A traveler walks past a Southwest Airlines airplane as it taxies from a gate at Baltimore Washington International Thurgood Marshall Airport on October 11, 2021 in Baltimore, Maryland. Kevin Dietsch | Getty Images Southwest Airlines’ customer service agents will soon work ‘100%’ remotely as the carrier moves to close its reservations centers. “Southwest Airlines just […]
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Why saving in a 401(k) plan may be tough for frequent job switchers
Damircudic | E+ | Getty Images Saving in a 401(k) plan may be tough for workers who switch jobs frequently — a dynamic that’s come into greater focus amid the Great Resignation. In 2021, 14% of people saving in a 401(k) plan left their employer, according to a new report from Vanguard Group, which is […]
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Tech companies urge U.S. to let the kids of visa holders stay past the age of 21
Muthumalla Dhandapani, an Indian immigrant with an H1-B visa and a Comcast employee in Sunnyvale, protests President Trump’s immigration orders in 2017. Santiago Mejia | Hearst Newspapers | Getty Images A coalition of tech companies including Amazon, Google, Salesforce and Uber are urging the Department of Homeland Security to revise policies for children of high-skilled […]
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Huge pay bumps and flexi work hours: How Singapore companies are fighting the talent war
Companies in Singapore are adjusting salaries and beefing up mental health benefits, bonuses, flexible working policies and more. Jayson_lys | E+ | Getty Images In a normal year, lawyers at one of Singapore’s top four local law firms could expect to receive an annual increment of between 10% and 15%. The company said employees would get […]
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Retirement tax breaks benefit higher earners, leaving middle-class savers behind, report finds
Fstop123 | E+ | Getty Images Tax breaks designed to boost retirement savings may primarily benefit higher earners, leaving middle-class workers behind, according to a report from the National Institute on Retirement Security. With most Americans receiving less than half of preretirement income from Social Security, many rely on employer-sponsored savings plans and individual retirement […]
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