The recent report by the Labor Department’s weekly jobless claims that was released on Thursday revealed disturbing facts about job cuts by US state and local governments. The report stated that the job cuts by both state and local governments have suffered huge financial losses with dwindling budgets as they fought the COVID-19 pandemic and were ready with second-wave layoffs. It also stated that the second-wave layoffs in the private sector would likely to witness more than two million Americans seeking unemployment benefits.
In an internal letter to the employees, American Airlines Group Inc announced its plans to cut its management and support staff by about 30%. The letter was made public on 27 May 2020 and stated that the company may also have to cut frontline employees as it downsizes due to the coronavirus outbreak. Further, almost all the major US airlines have announced that they would downsize once the US government payroll aid banning involuntary job cuts would expire on 30 September 2020.
According to survey results from law firm Dykema that were released on 12 May 2020, it was found some employers who have started recalling workers have experienced ‘considerable cooperation.’ The survey revealed that it was the most common experience amid the 124 clients and the non-clients, who responded to the firm’s survey – accounting for almost nearly a third of the responses.
The internal mail sent to the employees by the CEO Sundar Pichai revealed plans about Google reimbursing employees up to $1,000 to pay for the work from home equipment. The mail was sent on Tuesday and stated the plans for the gradual reopening of its offices that would start on a rotational basis with about 10% capacity on 6 July 2020 and working up to around 30% capacity in September. The mail echoed the statements Mr. Pichai had made earlier in May.
The recent survey carried out by the Harris Poll for outsourcing firm Yoh revealed interesting trends in employees. The survey that was conducted on about 993 full time and part-time employees revealed a majority of US employees (78%) ages 18 and older said while they would not look for a job change during the pandemic, however might reconsider things once the situation is under control. According to the statement the younger employees were more optimistic about finding a job.
According to a spokesman for the Society of Professional Engineering Employees in Aerospace (SPEEA) – a union representing 17, 600 employees of Boeing informed on Tuesday that Boeing Co is planning to announce significant job cuts in the US this week. The announcement came a month after the company had disclosed its plan to shed about 10% of its workforce worldwide totaling to about 160, 000 employees. There have been no comments from Boeing so far.
The recent study on the US laws revealed some disturbing trends in the country. Amid the economic downturn due to the deadly pandemic, employers would now have to deal with tightened immigration laws that prohibit foreign workers from obtaining permanent residency in the country even with the green card process. According to the executive order signed by US President Donald Trump, there would be certain restrictions on immigration thus making the employers expand their business outside the US to facilitate hiring and recruitment. The action drew criticism from various sectors.
According to the experts from advisory firm LRN Corporation, the reopening of the offices post the pandemic scare would be a ‘stress test’ for the employers’ ethics and compliance programs. The prediction came at the heels of survey results, which the firm released recently. The firm had carried a survey of about 500 ethics, compliance, and legal professionals. The report had revealed mixed results on employers’ ability and desire to both identify and weed out any misconduct at the workplace.
In a recent development, related to coronavirus outbreak, Facebook – the social media giant, would permanently embrace the remote work concept after the lockdown eases. In an internal announcement made by the company’s CEO Mark Zuckerberg, on Thursday, it was said Facebook in order to accelerate its tech sector’s geographic diversification away from its home in Silicon Valley would be ready to welcome work from home concept and would ‘aggressively open up remote hiring’ opportunities.
The US Department of Labor revised and updated the Fair Labor Standards Act (FLSA) regulations on 20 May 2020. According to the revised regulations, employers would be guided on how to calculate overtime pay for workers with fluctuating workweeks. The DOL also revealed the final rule would also include additional examples for calculating overtime where an employee is paid a nightshift differential – a productivity bonus for premium pay for weekend work. The rule would come into effect 60 days after its publication date in the Federal Register.
According to the 10th Annual 2020 Global Human Capital Trends report titled ‘The Social Enterprise at Work: Paradox as a Path Forward,’ by Deloitte, while the companies have increasingly invested in technology, they have faltered in their investments in humans. The report that was released on 18 May 2020, clarified that organizations have not been able to find an intersection between humans and technology.
In a recent quarterly report by Freelancer.com, it was reported the freelance economy had enjoyed a stronger start to the year, in comparison to Q1 2019. The report that was released on 14 May, also featured the growth of 21% year-over-year with the total rising from 410,000 to 497,000. The report also featured an interesting trend in relation to skillset between Q4 2019 and Q1 2020.
According to the Labor Department’s weekly report on jobless claims, released on Thursday, millions more Americans have filed for unemployment benefits last week, as backlogs are being cleared continuously. The report also featured that there is a second wave of layoffs due to coronavirus, which points out to another month of staggering job losses. While the report looked glum, there were some positive facts as well including the pace at which businesses rehire the workers as they reopen their offices.
In the recent development in the FinTech companies, Mastercard Inc has announced that employees could continue to work from home until the fear of the virus subsides completely. The second-largest payment processor revealed that it will support the employees who wish to continue to work from home, considering the fear of coronavirus still lurks.
In a recent development related to COVID-19, Visa Inc has announced that it will allow the majority of its employees to work from home through 2020. According to the announcement made by Chief Executive Officer Alfred Kelly Jr, the organization would be mirroring similar moves from other FinTech companies including AmEx. It was stated that the organization would be looking at bringing the employees back to offices in stages.
In a recent survey carried out by Strada Education Network, it was revealed about one-third of workers who had lost a job, income, or hours due to the COVID-19 pandemic have started a new job within that timeframe. The results were revealed on 13 May 2020. The survey also revealed that Latino Americans were the most likely group that lost either a job, income, or hours.
According to Skillsoft, an educational technology company, the leaders across the world would need to upskill to enhance their leadership styles in meaningful ways, as the organizations prepare for come-back post coronavirus pandemic. The workshop titled Leadercamp: Leading in the New Normal is a new workshop that has been created with an aim to help leaders meet evolving workplace challenges.
In a recent internal mail sent to the employees, it was found Uber Technologies would be focusing on the core business of ride-hailing and food delivery, in an attempt to cut the cost during the pandemic. The move is an aim to stay profitable during the coronavirus crisis. The mail was sent by Chief Executive Officer Dara Khosrowshahi to all the employees on Monday. The mail also talked about the total number of job cuts at 6,700, including the 3,700 jobs, the company had announced earlier this month.
According to the recent video shared by the Chief Executive Officer Steve Squeri, American Express Co has announced employees who have been able to work from home should continue to do so for the rest of the year. Squeri was talking about the return-to-office plan. He also emphasized on the uncertainty of returning to the physical office sometime soon.
As organizations plan to reopen their offices, UnitedHealth and Microsoft have launched an app that would help employers reopen the workplaces to maintain the strict coronavirus safety guidelines. The app, which is a Microsoft-powered smartphone app, called ProtectWell, would screen employees for COVID-19 and would then notify their employers and colleagues in order to offer peace of mind as staff returns to the workplace. The app would also report if an employee is found to be at-risk for the virus.
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