Labor economy

Cinderella Castle in Walt Disney World.Roberto Machado Noa | Lightrocket | Getty ImagesDisney has abandoned plans to open up a new employee campus in Lake Nona, Florida, amid rising tensions with the state's governor.Citing "changing business conditions" and the return of CEO Bob Iger, Josh D'Amaro, chairman of Disney's parks, experiences and products division, penned a memo to employees Thursday, announcing that the company will not move forward with construction of the campus and will no longer be asking more than 2,000…

Dollar General and Dollar Tree storesGetty ImagesTwo activist investment firms are calling on Dollar General and Dollar Tree shareholders to approve a pair of resolutions aiming to improve worker safety and wages, the firms said Tuesday. Dollar General Proposal 7, led by Domini Impact Investments, calls for an independent audit into worker safety and wellbeing. It will be voted on during the company's annual shareholder meeting on May 31. Dollar Tree Proposal 7, led by United Church Funds, calls for the creation of a…

A group of mostly Democratic senators pressured Tesla CEO Elon Musk to end the company's use of forced arbitration clauses in employee and customer contracts, in a letter on Monday.Like most large companies, Tesla requires workers to sign an arbitration agreement upon employment wherever it is legal to do so. That means to speak freely in court, where their speech will become part of a public record, workers need to get an exemption from the arbitration agreement from a judge first.The senators wrote that such clauses…

NFL Commissioner Roger Goodell speaks during a press conference in advance of Super Bowl LVII at Phoenix Convention Center on February 08, 2023 in Phoenix, Arizona.Peter Casey | Getty Images Sport | Getty ImagesThe attorneys general of New York and California said Thursday they had opened an investigation into the workplace practices and culture of the National Football League, including claims of gender discrimination.The AGs have issued subpoenas to the NFL in connection with the probe."The joint investigation will…

McDonald's location in Louisville, Kentucky.Luke Sharrett | Bloomberg | Getty ImagesMore than 300 minors — including two 10-year-olds who were unpaid — were found to be working in violation of federal labor laws at McDonald's franchise restaurants across Kentucky and other states, the U.S. Labor Department said this week.The franchisees in total face over $200,000 in estimated civil money penalties.The department's Wage and Hour Division determined three separate franchisees operating 62 McDonald's locations across…

UAW President Shawn Fain chairs the 2023 Special Elections Collective Bargaining Convention in Detroit, Michigan, March 27, 2023.Rebecca Cook | ReutersDETROIT – Leaders of the United Auto Workers are withholding a re-election endorsement for President Joe Biden until the union's concerns about the auto industry's transition to all-electric vehicles are addressed, according to a Tuesday letter sent by UAW President Shawn Fain to union staff.Fain, who was elected union president in March, said the UAW wants a "just…

Gap will lay off about 1,800 employees, more than three times as many as the 500 layoffs it announced in September, as part of a broad effort to cut costs and streamline operations, the company said Thursday. The layoffs will affect roles at Gap's headquarters locations along with upper field positions, or workers such as regional store leaders who hold leadership titles outside of a headquarters office, the company said. CNBC reported Tuesday that the company would lay off more than 500 employees.related investing…

Carlos Tavares, Chief Executive Officer of Stellantis, poses during a presentation at the New York International Auto Show, in Manhattan, New York City, April 5, 2023.David Dee Delgado | ReutersDETROIT – Stellantis is offering voluntary buyouts to about 33,500 U.S. employees, as the global automaker attempts to cut costs and headcount.The buyouts will be offered to 31,000 hourly employees with at least one year of employment and 2,500 salaried, non-union employees who have 15 or more years with the company, the automaker…

A clearance sale sign is seen at the Gap retail store on September 20, 2022 in Los Angeles, California.Allison Dinner | Getty ImagesGap is laying off more than 500 employees in an attempt to cut costs and become more efficient, as the company tries to move back to profitability, CNBC has learned. The exact number of layoffs is unclear, but the head count reduction will be larger than the 500 or so cuts to corporate positions the company announced in September, a person familiar with the matter said Tuesday. "Our goal is…

Bob Iger, CEO, Disney, during CNBC interview, Feb. 9, 2023.Randy Shropshire | CNBCDisney began its second, larger wave of layoffs Monday, bringing total job cuts in recent weeks to 4,000 when the latest round is completed.Earlier this year, Disney said it would slash 7,000 jobs from its workforce as part of a larger reorganization of the company that will see it cut costs by $5.5 billion. The announcement was made during Bob Iger's first earnings call since returning as CEO.Disney officials said Monday that they don't…