Home Depot has announced a $1 billion investment in its hourly workers, raising their average starting salary to $15 an hour. This move comes in response to the current red-hot job market, where unemployment has reached its lowest level since 1969. Home Depot's decision to raise its starting pay follows similar moves by other large retailers such as Amazon, who announced in September that starting pay for warehouse and delivery workers would be more than $19 an hour. This increase will benefit all hourly workers in the U.S. and Canada.
Posts tagged as “Amazon”
Dell Technologies has announced plans to lay off 5% of its workforce due to the uncertain economic climate, following similar cost-cutting measures taken by other large tech companies. The announcement comes as the tech industry has been hit hard by the economic downturn, with interest rate hikes contributing to the financial woes of many companies. Despite the job cuts, Dell has reported several strong quarters due to the steps taken to stay ahead of the downturn impacts.
American Media Inc. has sold the National Enquirer, a 97-year-old tabloid known for its wacky headlines and controversial stories, to a brand acquisition company, VVIP Ventures. The magazine publisher a360 agreed to sell the National Enquirer and another tabloid, the Globe, to VVIP in an all-cash deal. The National Enquirer has been involved in several scandals, including stories about former President Donald Trump and Amazon Chairman Jeff Bezos, and its former CEO David Pecker had been looking to sell the tabloid since at least 2019.
The Dallas Zoo is investigating the theft of two of its emperor tamarin monkeys after their enclosure was found to have been "intentionally compromised" on Monday, Jan. 30, 2023. The Dallas Police Department is conducting a preliminary investigation and the zoo has searched near the monkeys' habitat and across zoo grounds, but has not located them. This is the fourth suspicious event at the zoo this month, including fences being cut and the suspicious death of an endangered vulture.
Spotify announced that it will lay off 6% of its workforce in order to reduce costs, with CEO Daniel Ek taking full responsibility for the difficult but necessary decision. This follows other tech giants such as Amazon and Microsoft cutting jobs in the wake of the pandemic, with the industry having cut roughly 50,000 jobs in January alone. Spotify will provide severance and other benefits to those affected, as part of its effort to remain competitive and provide the best service to its customers.
Google, one of the world's leading technology companies, has announced a 6% workforce reduction of 12,000 employees, as the economic boom experienced during the pandemic begins to slow. This is one of the biggest rounds of layoffs ever for the company, and adds to the tens of thousands of job losses recently announced by other tech companies such as Microsoft, Amazon, and Facebook parent Meta. The layoffs are a sign of the times, and a reminder that the tech industry is not immune to the effects of the pandemic.
Amazon has announced the closure of its charity donation program, AmazonSmile, after 10 years of operation. The program allowed shoppers to donate a small percentage of eligible purchases to a charity of their choice, and has resulted in $500 million in donations with an average donation of less than $230 per charity. Charities enrolled in the program will receive a one-time donation equivalent to three months of what they would have earned through AmazonSmile. The closure is part of Amazon's cost-cutting strategy, and the company has yet to announce what other initiatives may replace the program.
Microsoft has announced that it will lay off 10,000 employees over the next eight months as part of cost-cutting measures in response to the global economic slowdown. The affected employees will receive 60 days' notice, health care coverage, stock vesting, and severance pay. Microsoft CEO Satya Nadella said the company is taking steps to weather any economic conditions while investing in its future. The layoffs come as Microsoft continues to invest in new technologies.