This week, Oregon Health & Science University (OHSU) informed its staff that they would be laying off 500 or more people in the next 90 days. The announcement, made through a letter sent to employees on Thursday, cited increasing costs of supplies and labor as major contributing factors in their decision-making process. Although the exact…
In a landmark move, the California $18 Minimum Wage Initiative has officially qualified for the November 5, 2024 ballot. This initiative, if passed, would incrementally raise the state’s minimum wage to $18 per hour by 2026, with subsequent adjustments based on the cost of living. This proposal has garnered significant support, with a recent poll…
The first week of June marked significant job cuts at two major IT giants, Google and Microsoft, as the wave of layoffs continued in 2024. Google announced the layoff of approximately 100 employees in its Cloud unit, while Microsoft reportedly cut over 1,000 jobs across various divisions. At Google, the layoffs targeted the Cloud unit,…
In the realm of fast-casual dining, Chipotle’s story is one of resilience amid adversity. Despite facing a barrage of challenges, from shrinking portions to sanitation concerns, the Denver-based chain continues to defy expectations. Even in the wake of California’s minimum wage hike and widespread discontent, Chipotle stands tall, poised to open 300 new locations this…
Amidst skyrocketing home prices in the U.S., a recent court case in Kansas City has spotlighted a hidden factor: realtor commissions. The verdict, totaling $1.8 billion in damages, revealed how the National Association of Realtors (NAR) and major real estate companies artificially inflated brokerage commissions. At the core of the issue is how commissions are…
Hino Motors Manufacturing U.S.A., a subsidiary of Toyota, has announced plans to shut down its largest auto parts plant in the U.S. due to concerns about achieving “sustainable profitability.” The facility, located in Marion, Arkansas, opened in 2006 and produces truck frames and axles for Hino and Toyota vehicles. This plant accounts for about 70%…
Keith Gill, known as “Roaring Kitty” on YouTube and “Deep@#$!Value” on Reddit, made a notable return with a livestream addressing GameStop’s recent turbulence, marking his first public appearance since the meme stock frenzy three years ago. The stock was down today by 40% at publication time. During his livestream, Gill reiterated his confidence in GameStop’s…
American icon John Deere, known for its green tractors and leaping deer logo, is facing backlash from its U.S. workers as it plans to move more production to Mexico, resulting in significant layoffs. Employees are accusing the company of prioritizing profits over people. Over the past few months, John Deere has announced several hundred layoffs,…
California’s recent minimum wage hike to $20 per hour has stirred conversations across the state. However, one group notably absent from this increase are restaurant workers. Traditionally, they’ve been excluded from such wage hikes due to the assumption that tips supplement their income. Yet, recent trends suggest that relying solely on tips may no longer…
Investors who jumped at the chance to buy shares in Warren Buffett’s Berkshire Hathaway at a seemingly unbelievable discount yesterday are in for disappointment. A technical issue on the stock exchange has led to the cancellation of these trades. On June 3, a data glitch caused the stock price of the global conglomerate to plummet…
