41 MILLION JOBS LOST; HOMEBOUND GEAR UP TO GET OUT, WAY OUT
Techlife News|Techlife News #448
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments related to the national and global response, the workplace, and the spread of the virus.
41 MILLION JOBS LOST; HOMEBOUND GEAR UP TO GET OUT, WAY OUT

IMMOBILIZED

Job cuts in the transportation industry have arrived this week by the thousands. The auto industry has suffered a number of setbacks, including interrupted production do to infection.

— American Airlines will cut its 17,000 management and support staff by 30%, about 5,100 jobs. Layoffs may begin in October if enough employees do not take buyout offers.

Executive Vice President Elise Eberwein said in a memo to employees that nearly 39,000 people have signed up for partially paid leave or early retirement, and the airline has extended a buyout offer to administrative staff. Laid-off workers will be paid through Sept. 30 to comply with a no-furloughs provision attached to $5.8 billion in federal aid that American is getting to help cover payroll costs.

— European budget carrier easyJet will cut up to a third of its workforce because of the pandemic. The airline has around 15,000 full-time employees — meaning some 4,500 jobs are at risk. The British carrier resumes limited service on June 15, but estimates that it may take three years to get back to 2019 demand levels.

— Nissan Motor Co. is closing its manufacturing plants in the northeastern Catalonia region in Spain, costing 3,000 jobs. The Industry Ministry in the financially strapped country are asking the Japanese automaker to reconsider. But auto sales globally are in retreat.

NOT ALL RETAIL NEWS IS BAD NEWS

There has been a wave of bankruptcies in retail and few sectors have been harder hit on the jobs front. But a number of companies have thrived, or at least survived.

هذه القصة مأخوذة من طبعة Techlife News #448 من Techlife News.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة Techlife News #448 من Techlife News.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من TECHLIFE NEWS مشاهدة الكل
AUSTRALIA SHOULD DELAY SOCIAL MEDIA BAN FOR CHILDREN UNDER 16. BIG TECH SAYS
Techlife News

AUSTRALIA SHOULD DELAY SOCIAL MEDIA BAN FOR CHILDREN UNDER 16. BIG TECH SAYS

An advocate for major social media platforms told an Australian Senate committee that laws to ban children younger than 16 from the sites should be delayed until next year at least instead of being rushed through the Parliament.

time-read
2 mins  |
Techlife News #683
APPLE AND GOOGLE FACE UK INVESTIGATION INTO MOBILE BROWSER DOMINANCE
Techlife News

APPLE AND GOOGLE FACE UK INVESTIGATION INTO MOBILE BROWSER DOMINANCE

Apple and Google aren’t giving consumers a genuine choice of mobile web browsers, a British watchdog said in a report that recommends they face an investigation under new U.K. digital rules taking effect next year.

time-read
1 min  |
Techlife News #683
DIRECTV CALLS OFF ACQUISITION OF RIVAL DISH, POSSIBLY ENDING A YEARSLONG PURSUIT
Techlife News

DIRECTV CALLS OFF ACQUISITION OF RIVAL DISH, POSSIBLY ENDING A YEARSLONG PURSUIT

DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

time-read
1 min  |
Techlife News #683
THE PSYCHOLOGY OF RETIREMENT INCOME: FROM SAVING TO SPENDING
Techlife News

THE PSYCHOLOGY OF RETIREMENT INCOME: FROM SAVING TO SPENDING

The narrative of a miserly, Scrooge-like figure hoarding his wealth for years instead of enjoying his retirement might seem unbelievable—but unfortunately, it isn’t relegated only to fiction. It’s a cold reality for many retirees.

time-read
2 mins  |
Techlife News #683
'BUY NOW, PAY LATER' IS MORE POPULAR THAN EVER. IT CAN COST MORE THAN YOU THINK
Techlife News

'BUY NOW, PAY LATER' IS MORE POPULAR THAN EVER. IT CAN COST MORE THAN YOU THINK

More shoppers than ever are on track to use ‘buy now, pay later’ plans this holiday season, as the ability to spread out payments looks attractive at a time when Americans still feel the lingering effect of inflation and already have record-high credit card debt.

time-read
2 mins  |
Techlife News #683
IS 'GLICKED' THE NEW 'BARBENHEIMER'? 'WICKED' AND 'GLADIATOR II' COLLIDE IN THEATERS
Techlife News

IS 'GLICKED' THE NEW 'BARBENHEIMER'? 'WICKED' AND 'GLADIATOR II' COLLIDE IN THEATERS

“Barbenheimer” was a phenomenon impossible to manufacture. But, more than a year later, that hasn’t stopped people from trying to make “Glicked” — or even “Babyratu” — happen.

time-read
4 mins  |
Techlife News #683
ELECTRIC CAR SALES ARE SLOWING IN THE US AND EUROPE AS BOTH FANS AND SKEPTICS SHARE CONCERNS
Techlife News

ELECTRIC CAR SALES ARE SLOWING IN THE US AND EUROPE AS BOTH FANS AND SKEPTICS SHARE CONCERNS

While sales of electric vehicles surge in China, adoption of more environmentally friendly vehicles is stumbling in the United States and Europe as carmakers and governments struggle to meet years-old promises about affordability and charging stations.

time-read
4 mins  |
Techlife News #683
FEDERAL PROSECUTORS SEEK RECORDS FROM COMPANY THAT DEPLOYED AI WEAPONS SCANNER ON NYC SUBWAY
Techlife News

FEDERAL PROSECUTORS SEEK RECORDS FROM COMPANY THAT DEPLOYED AI WEAPONS SCANNER ON NYC SUBWAY

Federal investigators in New York are seeking records from the manufacturer of an AI-powered weapons scanner that was briefly deployed this summer in New York City’s subway system.

time-read
1 min  |
Techlife News #683
BIDEN ADMINISTRATION TO LOAN $6.6B TO EV MAKER RIVIAN TO BUILD GEORGIA FACTORY THAT AUTOMAKER PAUSED
Techlife News

BIDEN ADMINISTRATION TO LOAN $6.6B TO EV MAKER RIVIAN TO BUILD GEORGIA FACTORY THAT AUTOMAKER PAUSED

President Joe Biden's administration announced this week that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable.

time-read
3 mins  |
Techlife News #683
RANSOMWARE ATTACK ON SOFTWARE SUPPLIER DISRUPTS OPERATIONS FOR STARBUCKS AND OTHER RETAILERS
Techlife News

RANSOMWARE ATTACK ON SOFTWARE SUPPLIER DISRUPTS OPERATIONS FOR STARBUCKS AND OTHER RETAILERS

A ransomware attack that hit a major software provider last week caused disruptions for a handful of companies over recent days, from Starbucks to U.K. grocery giant Morrisons.

time-read
1 min  |
Techlife News #683