Tag Archives: labor

(Reuters) – Airlines canceled nearly 700 flights in the United States early Monday, as they struggled to keep up with a surge in summer travel demand due to a shortage of staff ranging from pilots to crew members. Total flight cancellations within, into, or out of the United States as of 6.07 am ET were 669, as per flight-tracking website Flightaware.com. Nearly 860 flights were canceled on Sunday. Delta Air Lines, United Airlines Holdings Inc and Republic Airlines Inc had over 100… Source link

Don’t expect inflation to pass over very quickly, even with Fed rate hikes, a new ING report (ING) warns. The report, which was published by ING’s Financial and Economic Analysis team, analyzed the latest Labor Department jobs report and noted that consumers and businesses alike being burned by inflation will likely have to wait a while before seeing any real relief from inflation. “In an environment of decent corporate pricing power where firms can pass cost increases onto customers,… Source link

Interim Starbucks CEO Howard Schultz needs to do a better job embracing the labor union movement infiltrating his stores even if it pains him to do so, suggests U.S. Labor Secretary Marty Walsh. “I think he is going to have to invest in all of his workforce — he can’t just not invest in the dozen shops that are organized, it’s not a good business model,” Walsh said on Yahoo Finance Live (video above). “By investing in employees, I commend him for that and for investing in their salaries. I… Source link

Starbucks (SBUX) is going on the offensive once again amid a nationwide wave of unionization, calling out the labor organization backing pro-union workers for allegedly breaking labor rules amid a recount of unionization vote at an Upstate New York location. “These intermediaries have demonstrated that not only do they not operate in the best interest of partners, but sadly they’ll break labor rules to do so,” Starbucks Spokesperson Reggie Borges told Yahoo Finance in a statement. “The… Source link

Restaurants continue to grapple with the aftermath of COVID-19 as surging prices, supply chain headwinds and labor shortages compound an already struggling sector. “This is the toughest operating environment I’ve ever seen for this industry…and I haven’t seen anything loosen up yet,” AJ Kumaran, Raising Cane’s co-CEO and COO, told Yahoo Finance in a new interview. Labor has been one of the most difficult obstacles for restaurants to overcome, with nearly half of all operators citing… Source link

Employees at more than 100 U.S.-based Amazon (AMZN) facilities have contacted Amazon Labor Union (ALU) President Chris Smalls about unionizing their workplaces since a historic union victory at a warehouse on Staten Island a week ago, Smalls told Yahoo Finance on Friday. Smalls, a former Amazon warehouse worker who led the organizing campaign on Staten Island, said he plans to hold a “national call” with employees at the Amazon facilities within the next two weeks. When asked whether he… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, April 5, 2022 There’s a widespread labor shortage across the country, but that’s nothing new for the construction industry. During the homebuilding boom of the early 2000s, there was a lack of construction workers that was briefly cured when the housing market collapsed during the Great Recession and foreclosure crisis. But the… Source link

Is there a budding bromance between Tesla CEO and U.S. Labor Secretary Walsh? We wouldn’t go that far, but at least the two global influencers met at last. Musk gave Walsh a tour of Tesla’s new Gigafactory in March. The tour came after Walsh said on Yahoo Finance Live he welcomed a call from the EV titan. “We had a good conversation,” Walsh said on Yahoo Finance Live. The meeting marks the first public olive branch by the Biden administration to connect with the outspoken Musk, which is fresh… Source link

Amazon (AMZN) warehouse workers at a facility in Staten Island, New York, began casting their votes in a union election on Friday, thrusting the e-commerce giant into a nationwide surge of workers organizing across major companies like Starbucks (SBUX) and Disney (DIS). The Staten Island warehouse marks the second site of a union election among a large group of warehouse workers in Amazon’s history, arriving roughly one year after the overwhelming defeat of a labor drive at an Amazon… Source link

The recent U.S. Labor Department (DOL) warning to fiduciaries who offer cryptocurrency investments inside 401(k) plans makes sense, one crypto executive told Yahoo Finance. “I think that the Department of Labor is right to say ‘heed caution,’ and don’t just jump barrel-in to this because it’s popular and you need to offer it — be pragmatic about it,” Chris Kline, COO and co-founder of Bitcoin IRA — an investment platform that allows investors to roll over their IRAs and 401(k)’s… Source link