Hints and tips:
Related Special Reports
...Chief executive Charlie Scharf announced that the bank had set aside as much as $1bn for further severance costs, suggesting tens of thousands of more jobs are at risk....
...But the company racked up losses of $11mn over the first nine months of the year, due in part to $8mn of severance costs....
...In the US, Microsoft laid off 10,000 employees in January 2023, and reported severance costs of $800mn, or $80,000 a head. The restructuring costs amount to 5.9 months of the median pay....
...The UAW has said it plans to use its wins at the bargaining table against the traditional Big Three to lead organising drives at the US plants for non-union carmakers....
...He recently told associates that a new investor had signed an equity commitment letter for an investment that would allow the company to pay what is owed and meet its obligations....
...It cites examples of Kassan using the fund to pay for an apartment for his personal driver, and allowing his wife to have a company credit card “so she could shop for extravagant luxury goods”....
...peter.campbell@ft.com...
...Chevedden has also been active in filing executive pay proposals concerning “golden parachutes”, which are guaranteed severance payments for executives who leave their company....
...Results: Brown Froman, Campbell Soup, online pet retailer Chewy and video game chain GameStop report results....
...Results: Jack Daniel’s maker Brown Forman, Campbell Soup and sneaker seller Foot Locker and Thor Industries release earnings....
...Yesterday, it told investors it had spent $260mn in severance costs in the first six months of 2023. The bank has laid off about 3,400 employees, or about 7 per cent of its overall staff, this year....
...BofA has eliminated positions mostly by attrition and so has avoided having to pay large severance cheques....
...They were then competing for talent in a roaring market but now face falling fees, outflows from active strategies and shrinking margins, said Chris Connors, principal at pay consultant Johnson Associates...
...Workers at the centre are striking to put everyone on a single pay scale, Steele said including temporary workers, some of whom have worked at the facility for three years....
...More tech news: Four former Twitter executives, including ex-chief Parag Agrawal, are suing Elon Musk for more than $128mn in severance pay that they allege Musk withheld from them when he bought the social...
...One Musk drama to start: Four former top executives at X, including ex-chief executive Parag Agrawal, are suing Elon Musk for more than $128mn in severance pay that they allege the billionaire owner of the...
...In a speech short on surprises, Hunt announced a range of tax-raising measures, including the abolition of “non-dom” status and an extended windfall levy on oil and gas companies, to pay for the well-trailed...
...Auto workers are not the only ones threatened by companies’ plans to use new technology to divert production away from unionised workforces....
...In the near term he could find himself in a fight with his former employer over millions of pounds in severance pay and clawbacks....
...at the centre of René Benko’s crisis-stricken European luxury property empire, on Tuesday announced they were making most employees of the company redundant as they raced to cut costs and preserve value...
...A plan to grow the economy . A plan for better public services. A plan to make work pay. Growth up, jobs up and taxes down. I commend this Statement to the House....
...The start-up styled itself as the UK’s best hope for a homegrown battery champion, with plans for a £3.8bn gigafactory in Blyth in Northumberland....
...“Those are viable options and companies should think more about that,” she said. “The war for talent is expensive. With the cost of severance and signing bonuses, [lay-offs can be] a wash.”...
...are paid millions of dollars that they are allegedly owed in wages and severance pay....
...AT1 bonds, which are a form so-called contingent convertible security, and shares made up part of employees’ deferred pay, according to people familiar with the matter....
International Edition