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Citi's Institutional Client Group Chairman Leon Kalvaria noted on Wednesday that "people are worried about a recession" as inflation outpaces wage growth.
Speaking on "Mornings with Maria," he noted that "a recession, at the end of the day, comes from the consumer side of the equation." READ MORE
In a hiring landscape where job positions for retail store managers and sales managers are growing at a rate of 7%, according to the U.S. Bureau of Labor Statistics, and roughly 27,900 new sales manager jobs should be created between 2020 and 2030, superstore Walmart is seriously concerned about having enough managers in the near future. READ MORE
Intel shareholders voted last week against the company’s compensation for its top executives, according to an regulatory filing published on Monday.
The vote is advisory, and won’t immediately affect the compensation of Intel’s executives, but sends a signal that some Intel investors are closely watching the performance of CEO Pat Gelsinger and the progress of his turnaround plan for the chip giant. READ MORE
After just one day on the job, Moderna’s then brand new finance chief Jorge Gomez left the Cambridge, Mass.-based COVID-19 vaccine maker on May 10, the same day his former employer, Dentsply Sirona, publicly disclosed an ongoing internal investigation into certain matters, including financial reporting, at the manufacturer of dental techologies and products. READ MORE
The United States Soccer Federation (USSF), the United States Women's National Team Players Association (USWNTPA) and the United States National Soccer Team Players Association (USNSTPA) have agreed to a deal that achieves "equal pay and set the global standard moving forward in international soccer." READ MORE
In an unusual rebuke for Jamie Dimon, CEO of JPMorgan Chase & Co, shareholders on Tuesday clearly disapproved of the special $52.6 million stock option award directors gave him last year to stay on the job for at least five more years. READ MORE
The U.S. labor market has been on a roller coaster ride, from massive job losses at the start of the COVID-19 pandemic to unprecedented growth in last year.
According to the Economic Policy Institute, the labor market lost 22 million jobs in spring 2020. In the past 12 months, however, the economy added 6.6 million jobs and is on track to return to pre-pandemic labor market conditions before the end of 2022. Unfortunately, there are not enough people looking for work to fill available positions. According to the Bureau of Labor Statistics, nearly 5 million people, who left the workforce at the start of the pandemic, have not returned and are not looking for work. READ MORE
A new front has emerged in state and local governments’ attempts to address pay inequity. Once an addendum to broader laws restricting the ability of employers to ask about pay during the hiring process, pay disclosure requirements have now become full-fledged, targeted pieces of legislation in a growing number of jurisdictions. READ MORE
Public companies in a number of sectors have recently experienced a significant decline in their share price. In addition, the conflict in Ukraine and macro-economic factors continue to impact the economy. Nevertheless, the labor market remains tight and companies are struggling to retain talent. This goal can be undermined when stock options awarded during better times are “underwater” and have therefore lost much of their incentive value. Pressure can quickly mount on boards and management to address this mismatch by “repricing” such underwater options. READ MORE
Hannah Williams has no problem sharing how much she makes. She doesn’t mind asking other people about their pay, either.
By day, Williams, 25, works as a senior data analyst and earns $115,000 per year. READ MORE
When it comes to negotiating a job offer, if you don’t ask — you won’t receive.
It turns out many don’t ask, according to a survey from Fidelity Investments.
Some 58% of Americans accepted the initial offer at their current position without negotiating, the survey found. READ MORE
A senior executive will be paid $700,000 in severance, despite only spending a day in his new job at vaccine maker Moderna, reports suggest.
On Wednesday, the pharmaceutical giant announced that its chief financial officer, Jorge Gomez, had departed the company "effective immediately," following a disclosure by his former employer that it's investigating financial misreporting. READ MORE
Amazon CEO Andy Jassy's pay package is too high.
That's according to the investor advisory firm Institutional Shareholder Services. "The value of the new CEO's $214 million award is excessive in the context of an internal promotion," ISS wrote in a report shared with clients on Thursday, the Financial Times reported. READ MORE
Speaking to the Institute For Workplace Equality during its 2022 Annual Summit in Washington D.C., personnel from the U.S. Department of Labor Solicitor’s office (OFCCP’s attorneys) clarified the intent of the Agency’s new Compensation Directive 2022-01. Speaking to conference attendees, Beverly Dankowitz, Associate Solicitor for the Civil Rights and Labor- Management, explained the purpose of Directive 2022-01: Pay Equity Audits is to promote greater attention to proactive audits, sharing that the Directive was in no way intended to chill contractors’ work on pay equity. READ MORE
Exhibiting sound ethical and cultural practices significantly influences an employer's recruitment and retention efforts, according to a new study by the management services company ADP. READ MORE
LinkedIn Corp., the online professional-networking platform, has agreed to pay $1.8 million to nearly 700 female workers in California after the Department of Labor (DOL) alleged that these workers were subjected to "systemic, gender-based pay discrimination." READ MORE
The movement for greater pay transparency is flourishing over the past year as many U.S. states are enacting laws requiring employers to share estimated salary ranges in job postings.
Although "pay transparency" encompasses a broad range of practices -- from listing employees' salaries to publicizing compensation policies -- it essentially boils down to employers sharing compensation practices more openly than what's traditionally expected. READ MORE
The New York City Council passed a salary disclosure law, Int. 134-A, at the beginning of this year in an effort to increase salary transparency and decrease wage disparities based on gender and race. The law was due to take effect this Sunday, May 15.
After the publicity and significant pushback from the business community, the City Council has amended the law to extend the compliance date, clarify some rules, and modify other rules. READ MORE
When you think about the people graduating from college this month, you may think because of the growing cost of living, salary and sign-on bonuses could be their top priorities.
It turns out the top priority for their first job is actually remote or flexible work. READ MORE