All articles tagged with #salaried employees
John Deere has announced plans to lay off global production and salaried employees by the end of Q3 2024, citing the need for long-term business health. The impact on Eastern Iowa facilities and the number of affected employees remain unclear. KWWL is seeking further details and will provide updates as the story develops.
Target is doubling bonuses for salaried employees, including store and supply chain leaders, due to a $2 billion profit growth for 2023. The company's stock surged 54% since mid-November, following cost reductions to counter a consumer spending slowdown. The bonuses do not extend to hourly employees, whose pay starts at $15 an hour, except in markets like California, where it rises to $19.75.
Salaried employees at the General Motors Flint Processing Plant were told to stay home after five union workers were injured in a hit-and-run incident while picketing. The suspected driver, who is employed by a third-party housekeeping contractor, does not work for GM. The union workers are concerned that the salaried employees may be performing their jobs, creating potential issues when they return. GM denies these claims and states that the salaried workers were simply performing their usual duties. The company expects the salaried employees to return to the site in the coming days. The police are still searching for the driver, and GM has banned them and two others from all GM properties.
Ford is reportedly set to announce a new round of layoffs of salaried employees, causing the company's stock price to slip. The news was reported by The Wall Street Journal, citing sources familiar with the matter.
About 5,000 salaried employees have signed up for General Motors' buyout offer, which is part of a $2 billion cost-savings program. The move will lead to about a $1 billion charge for the company in the first quarter. However, GM CFO Paul Jacobson said that no layoffs are planned. The buyout program offers eligible employees with at least five years of service one month of pay for every year of service up to 12 months, a pro-rated performance bonus, and outplacement services.
A U.S. appeals court has ruled that employers can dock salaried employees' paid time off if they fail to meet productivity quotas, in response to a class action lawsuit filed by workers from Bayada Home Care. The judges decided that paid time off doesn't count as compensation and that no American employee, salaried or otherwise, is entitled to paid leave. The ruling could have broad implications for employee benefits if other companies adopt a similar strategy.