Labor economy

Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a "very challenging" macro and competitive environment, the company announced Wednesday. Approximately 225 employees will be cut from Etsy's workforce, which will bring the headcount for the core Etsy marketplace to about 1,770 people, similar to the company's headcount in early 2022 and above 2020 levels. Etsy CEO Josh Silverman noted in a letter to employees…

United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.ScreenshotDETROIT – The United Auto Workers has filed unfair labor practice charges with the National Labor Relations Board against Honda Motor, Hyundai Motor and Volkswagen, accusing the automakers of unlawfully interfering with worker organizing, the union said Monday.UAW alleges management at facilities for Honda in Greensburg, Indiana; Hyundai in Montgomery, Alabama;…

Members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle on November 16, 2023 in Washington, DC. Kevin Dietsch | Getty ImagesStarbucks said it wants to resume contract talks with the union representing its baristas, starting in January.Saturday marks the two-year anniversary of the first unionization of company-owned Starbucks cafes in the U.S. Since then, more than 360 locations have voted to unionize, representing about 4% of the company's total U.S. company-owned…

Southwest Airlines Boeing 737-700 aircraft is seen landing at dusk time at Ronald Reagan Washington National Airport in Arlington, Virginia.Nicolas Economou | Nurphoto | Getty ImagesSouthwest Airlines and its pilots' union are closing in on a new contract that would raise pay for the carrier's more than 11,000 aviators and end months of contentious negotiations, weeks ahead of the crucial holiday travel season.The company and the union have agreed on pay, retirement and other items but are working on an implementation…

Attendees hold large Pride flag at the 2023 LA Pride Parade on June 11, 2023 in Hollywood, California. (Photo by Rodin Eckenroth/Getty Images)Rodin Eckenroth | Getty ImagesIn a year stained by boycotts, protests and heightened consumer choice, hundreds of companies came through for LGBTQ+ equality, according to a leading advocacy group.The Human Rights Campaign Foundation awarded 545 companies with a perfect score on its annual Corporate Equality Index, which evaluates U.S. based companies that opt into the survey on…

United Auto Workers President Shawn Fain, middle, visits striking UAW Local 551 workers outside a Ford assembly center on South Burley Avenue on Saturday, Oct. 7, 2023, in Chicago. John J. Kim | Tribune News Service | Getty ImagesThe United Auto Workers union is launching an unprecedented campaign to organize 13 non-union automakers in the U.S. after bargaining record contracts with the Detroit automakers.The union said Wednesday the drive will cover nearly 150,000 autoworkers across with BMW, Honda, Hyundai, Lucid,…

United Auto Workers members strike the General Motors Lansing Delta Assembly Plant on September 29, 2023 in Lansing, Michigan. Bill Pugliano | Getty ImagesGeneral Motors expects new labor contracts with the United Auto Workers and Canadian union Unifor to increase its costs by $9.3 billion and add approximately $575 in costs per vehicle during the terms of the deals.Most of those cost increases stem from GM's deal with the UAW that's set to expire in April 2028. The pact, which was ratified earlier this month, includes at…

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.Patrick T. Fallon | AFP | Getty ImagesGeneral Motors is seeking to regain Wall Street's confidence leading into 2024 with several investor-focused initiatives Wednesday following a tumultuous year of labor strikes and setbacks in its plans for electric and autonomous vehicles.The Detroit automaker plans to increase its quarterly dividend next year by 33% to 12…

Ford CEO Jim Farley announces at a press conference that Ford Motor Company will be partnering with the worlds largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan.Bill Pugliano | Getty Images News | Getty ImagesDETROIT – Ford Motor is scaling back plans for a $3.5 billion battery plant in Michigan as consumers move to electric vehicles more slowly than expected, labor costs rise…

Randy Harvard (right), an autoworker of 29 years, stands with other United Auto Workers members after the union called a strike Oct. 23, 2023 at Stellantis' Ram 1500 plant in Sterling Heights, Mich.Michael Wayland / CNBCDETROIT — The United Auto Workers union said Chrysler-parent Stellantis plans to invest $18.9 billion in the U.S. by April 2028, including $1.5 billion for new midsize pickup truck production at an idled factory in Belvidere, Illinois.The investments are expected to be completed during the term of the…