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The Remington gun factory nestled in New York’s Mohawk Valley is ready to shutter its doors and move to Georgia after more than 200 years in the Empire State.
"Two hundred and eight years of history. Gone, gone," Ilion, New York, Mayor John P. Stephens told The New York Times. "Ilion is Remington. Remington is Ilion." READ MORE
The IRS on Wednesday announced that it is going to increase audits of corporate jets, part of its sweeping effort to crack down on wealthy Americans and big corporations that aren't paying what they owe.
Beginning in the spring, the IRS will conduct audits of three dozen to four dozen high-income individuals and companies that may be using private jets for personal reasons, but write them off on their taxes as a legitimate business expense in order to reduce their liability. READ MORE
A millennial who worked for a Michigan news station owned by Paramount Global said she was laid off three months after she moved to take the job.
On February 13, Gabrielle Dawson recorded the moment a general manager told her that layoffs were impacting her role. She posted her reaction to TikTok later that day. READ MORE
In December 2022, Taiwan Semiconductor Manufacturing Company, the key maker of the world’s most cutting-edge chips, said it planned to spend $40 billion in Arizona on its first major U.S. hub for semiconductor production.
The much ballyhooed project in Phoenix — with two new factories, including one with more advanced technology — became a symbol of President Biden’s quest to spur more domestic production of chips, the slices of silicon that help all manner of devices make calculations and store data. READ MORE
Rivian Automotive Inc. lost its claim to be Tesla Inc.’s most credible competitor long ago. Now, its ability to navigate an EV demand slowdown poses its biggest test. READ MORE
Artificial intelligence is becoming ubiquitous in the interviewing and hiring process. It carries out the initial screening of applicants to the final stage of decision making. Managers can now make better and more informed decisions about their staff and promotions.
In addition to being instrumental in a number of aspects within the hiring process, AI provides the tools to enable managers to make the tough decisions over the firing of workers. While many of the use cases are helpful and positive, there are concerns over biases, fairness and transparency. READ MORE
Capital One is acquiring Discover Financial Services for $35.3 billion in an all-stock deal, giving the bank a leg up in the competitive credit card market.
Under the terms of the deal announced late Monday, Discover (DFS) shareholders will receive a little over one share of Capital One (COF) for every Discover share they own. That represents an almost 27% premium from Discover’s closing share price of $110.49 on Friday. READ MORE
Remote workers are more likely to be laid off or miss out on promotion opportunities than their peers who work in the office or in hybrid environments, potentially exposing employers to costly discrimination lawsuits.
A January survey from Live Data Technologies Inc. found that in 2023 fully remote white-collar workers were 35% more likely to get laid off than colleagues who put in at least some time in the office. The software development firm, which tracks job trends, analyzed a sample of two million workers and also found that remote employees were 31% less likely to get promoted. READ MORE
A former top corporate America executive is warning that the U.S. economy is not on a fast track to recovery, as higher inflation and more mass layoffs loom over markets.
"The general population will not be duped by this aversion to try and blame inflation on corporate America. It starts at the raw materials, it starts at transportation, it starts at energy," former Home Depot and Chrysler CEO Bob Nardelli said on "Cavuto: Coast to Coast" Monday. "A whole host of things that are driving this up, wage increases." READ MORE
Recently, a friend of mine who is a novice crypto investor reached out to me asking if I could look into a company that promotes crypto mining and investment. The website promised returns that seemed too good to be true and had various other red flags. Unfortunately, by the time I got back to them with this information, my friend had already transferred several thousand dollars worth of Bitcoin. They were told they had earned a substantial return on their investment, but when they tried to withdraw their money, things took a dark turn. The fraudsters demanded additional fees to be paid before allowing the withdrawal; then, they threatened to close the account and call the police if my friend did not send more money. At this point, it was clear that the investment was fraudulent, there was no profit, and nothing would be returned. READ MORE
Performance reviews can win you a raise or get you laid off — and managers and employees alike are turning to ChatGPT to write them.
Why it matters: The sensitive work of writing your own self-assessment, or reviewing the work of an employee who reports to you, has become so daunting or monotonous that some would rather turn it over to AI.
What's happening: It's been over a year since ChatGPT became a household name and though the excitement over its magic has begun to wane, people are increasingly using it for all sorts of critical tasks. READ MORE
Think about how the first 15 minutes can set the tone for your workday. Imagine if you arrive late and rush to your desk, or if you have a fight with your spouse while you’re on your commute, or if you realize you forgot that you had an early meeting and missed it.
With some organization, a positive mindset and a plan of action to tackle your day, experts say the first 15 minutes of your day can springboard your workday to be productive. Here’s a deeper dive. READ MORE
If there’s one thing most employees (and some HR professionals for that matter) hate, it’s performance reviews.
Jack Dorsey – the former co-founder of Twitter – hates them so much that, that at the end of 2023 he made the news when he announce that his new organization – Block – would be banning them altogether.
The big irony with performance reviews is that according to Workhuman Analytics & Research, 55% of workers do not actually think performance reviews improve performance. Most employees get anxious with them, and many argue their structure focuses too much on historic performance rather than future potential and capability. READ MORE
Since the 2008 financial crisis, a growing chorus of advocates and scholars have argued that corporations have a responsibility toward a number of different stakeholders, including their employees. The opposing camp has held that shareholders come first: They are the owners of the firm, and they should ultimately decide how it acts.
However, there is a schism forming among those who claim to adhere to the idea of shareholder primacy–the notion that a company should serve only its investors. And it widened again last month when oil giant ExxonMobil sued two of its shareholders, Arjuna Capital and Follow This, to block them from submitting climate-related resolutions at its shareholder meeting. READ MORE
Jean-Paul Sartre once said, “Hell is other people.”
The French philosopher wouldn’t get much of an argument from many working women.
There’s a reason lots of women are freelancing, doing contract or gig jobs and saying goodbye to the traditional workplace − and it’s not just about flexible hours. READ MORE
Mark Cuban’s X account began reposting antisemitic remarks this week aimed at none other than himself, leading some to believe that his page had been hacked. But the reposts were actually made by Cuban in an effort to highlight the platform’s surge in anti-Jewish rhetoric.
“It was me,” Cuban confirmed to the Daily Dot.
Many of the reposts, which Cuban began sharing on Wednesday, attacked his Jewish heritage and accused him of attempting to subvert society. READ MORE
“You guys [Jews] seem to have a genetic predisposition to subvert societies,” one user reposted by Cuban said. “Why? I have no idea, but even Jesus himself rebuked yall.”
The first time Tim Cook experienced the Apple Vision Pro, it wasn’t called the Apple Vision Pro. It was years ago; maybe six, seven, or even eight. Before the company built Apple Park, where we’re sitting right now, at a bleached oak table in this incredible circular edifice of a building clad in miles of curved glass. It’s been raining, and the clouds are clearing over the pine trees and the rows of citrus and maple trees, and the sun is reflecting off the pond in the meadow, and it’s kind of mesmerizing. And Cook’s telling me about that time, all those years ago, in his dulcet Robertsdale, Alabama, accent, when he first saw it.
It was at Mariani 1, a nondescript low-rise building on the edge of the old Infinite Loop campus with blacked-out windows. This place is so secret, it’s known as one of Apple’s “black ops” facilities. Nearly all of the thousands of employees who work at Apple have never set foot inside one. There are multiple layers of doors that lock behind and in front of you. But Cook is the CEO and can go anywhere. So he strolls past restricted rooms where foldable iPhones and MacBooks with retractable keyboards or transparent televisions were dreamed up. Where these devices, almost all of which will never leave this building, are stored in locked Pelican cases inside locked cupboards. READ MORE
On paper, this all sounds like a great deal. But in practice, this is far from reality for many students.
Fewer than 40% of those who enroll in community college graduate. And an even smaller percentage of students go on to complete a bachelor’s degree. READ MORE
A startup called Owner wants to help mom-and-pop restaurants thrive online.
Digital ordering and online marketing have become more essential to a restaurant’s survival than ever. While that shift online can be a relatively easy one for chain establishments, Owner cofounder and CEO Adam Guild says independent restaurants can easily end up spending a lot of time and money on delivery services, web design, emailing marketing tools, and other digital tools without seeing a great return on investment. READ MORE
Oakland's largest employer has reportedly told workers that due to safety concerns in the city, taking breaks indoors is recommended.
KTVU first reported that Kaiser Permanente, which was founded in 1945 and is headquartered in Oakland, has recommended employees "stay in their buildings for lunch and work, in response to street robberies of workers who went out to grab something to eat." Kaiser's main corporate office is located in the Ordway building at 1 Kaiser Plaza by Lake Merritt. The memo, which was issued last month, also reportedly advised employees to avoid in-person meetings, if possible, and only recommended the Claremont Hotel in the Berkeley Hills for out-of-town guests. READ MORE