All articles tagged with #employee pay
Silver Airways, after filing for bankruptcy and ceasing operations, has liquidated and is only paying employees 45% of their last paycheck, raising concerns about ethics and employee rights amid financial struggles.
Bosch is reducing the working hours and pay for 10,000 employees as part of its strategy to address declining demand for auto parts. Affected employees will see their workweek cut to 35 hours, resulting in a 12.5% pay reduction. These changes will begin in March at Bosch's headquarters in Gerlingen, Germany, with similar adjustments planned for other locations.
Leaked court documents from an ongoing antitrust case reveal that Valve, the company behind Steam, has maintained a surprisingly low headcount, never exceeding 400 employees, with 336 staff members in 2021. Despite this, Valve's payroll has significantly increased, reaching $157 million in 2021. The data also highlights the company's reliance on outsourcing and the growth of its hardware division, although it does not cover the impact of the Steam Deck launched in 2022.
The chief financial officer of Durham Public Schools, Paul LeSieur, has resigned following an overpayment error that affected school staff members. The error led to some classified employees receiving more money than they should have in their paychecks between July and December 2023. This resulted in walkouts and protests from employees. The DPS Board of Education has approved second checks for affected staff and announced a budget amendment to bridge the funding gap, aiming to resolve the situation and earn back employees' trust.
Tesla plans to increase wages across its U.S. factories, with specific details yet to be disclosed. The move follows similar actions by other major auto makers and comes amid ongoing labor disputes, including a federal appeals court case over alleged labor law violations. CEO Elon Musk has previously expressed opposition to unions, and the wage increase announcement coincided with a 2% drop in Tesla's stock.
Alphabet CEO Sundar Pichai received a total compensation of $226 million in 2022, including stock awards of $218 million, which is more than 800 times the median employee's pay. This comes at a time when Alphabet has been cutting jobs globally, with plans to cut 12,000 jobs around the world in January.