Ford downsizes; Biden ends Covid-19 testing for federal employees – TLNT
Ford is reducing its American workforce
Automobile company Ford has announced the cut of 3,000 jobs, most of which will impact American workers. The cuts will include 2,000 salaried positions and 1,000 agency jobs in the United States, Canada and India, according to an email sent to staff from Ford Chairman Bill Ford and CEO Jim Farley. The cuts, which were first reported by Automotive News, come less than a month after Farley told analysts that “we have absolutely too many people in some places, there’s no doubt about that.” The cuts are happening across all of Ford’s businesses, which it split into two units earlier this year to separate its electric and internal combustion engine businesses. “There are opportunities to be more efficient and effective across all business units and all the functions that support them,” Ford spokesman TR Reid said. CNBC. Ford employs approximately 31,000 people in North America. The coupes are part of a massive corporate transformation called Ford+. This aims to reduce structural costs by $3 billion by 2026.
On-demand work more harmful to employees’ mental health
The debate over whether workers want/prefer more flexible “on-demand work” continues unabated, and this week new research from the red corner, which argues that the precarious income associated with non-work traditional has an overall negative impact on the health and well-being of workers. The full data results — compiled by researchers at UTHealth Houston — won’t be released until September, but an early version of the results reveals that precarious workers reported a 50% increase in overall poor health and psychological distress in relation to employees. Overall, he concludes that gig work creates a sicker workforce, leading to higher out-of-pocket healthcare costs and higher consumer costs. Author Robert Thomas said, “It is reasonable to expect that the American taxpayer will pay more for the uninsured chronic morbidity care of uninsured American workers who have precarious income.”
Walmart to offer abortion coverage to US employees
Two months after the Supreme Court’s controversial overturning of Roe V. Wade, retail giant Walmart announced that its self-insured healthcare plans will now cover abortion “when there is a risk to the mother’s health, rape or incest, ectopic pregnancy, miscarriage or lack of fetal viability.The change was revealed in a memo from human resources director Donna Morris to employees, which was also shared with Retail diving. Walmart has also expanded employee travel coverage due to “how recent events are driving state-by-state healthcare environments,” providing support for associates and covered dependents to travel for covered services. when not available within 100 miles of their location. The update sees him join a growing list of other employers who have expanded their abortion-related healthcare coverage for employees.
US adds 528,000 jobs in July
The number of new jobs added to the US economy each month continued to surprise analysts, with 528,000 created in July. The additions bring the number of new jobs added to 22 million since hitting a low in April 2020. The stronger-than-expected growth comes a month after the Department of Labor announced the economy had added 398,000 jobs in June, some 26,000 more than its first. estimate. According The Guardian, economists expected employment growth to slow in July. But the latest figures were actually much higher than the average of 388,000 jobs created over the past four months. “The unexpected acceleration in nonfarm payroll growth in July, together with the continued decline in the unemployment rate and the resumption of wage pressures, suggest that the economy is still far from recession,” suggested Michael Pearce, senior US economist at Capital Economics. However, the Labor Department also said the number of people applying for unemployment benefits rose to 260,000 last week from 254,000 the previous week.
Union members earn more than their peers
Those who belong to unions earn an average of 10% more than their non-union peers, according to a new study by the Joint Economic Committee of Congress. The difference was even greater for black and Latino unionized workers, whose salaries were 17% and 23% higher, respectively. Valerie Wilson, who works at the Economic Policy Institute, argued that the difference can be explained by the collective bargaining afforded by being a union member. She said: ‘It clearly sets out policies and practices and compensates a worker in a given position. The research noted that although union membership has been declining for decades, black workers are more likely to be unionized than the population as a whole.
The article continues below
Court says company ‘may’ pay staff bonuses
Struggling cryptocurrency brokerage Voyager has won the right to be allowed to pay retention bonuses to key staff – even if it files for bankruptcy. The company won approval for its Key Employee Retention Plan (KERP), which planned to pay $1.9 million to 38 key employees who were identified as crucial to the continued operation of the exchange. Creditors of the company, which filed for bankruptcy in July 2022, initially objected to Voyager’s KERP payments in a court filing on August 19.e, saying payments to investors should be prioritized over already “well-paid” employees. The bonuses are conditional on Voyager implementing operational cost reduction measures that will save the company $4.6 million. US Bankruptcy Judge Michael Wiles approved the bonuses in part because none of the bonus recipients are appointed or serve on the board.
Biden ends Covid testing for unvaccinated federal employees
The Biden administration has told agencies to stop testing unvaccinated employees for Covid-19, as it reverses course in its attempts to inoculate the US federal workforce. The guidance on the changes, which took effect Aug. 22, says agencies will no longer need to perform “serial drug tests” on employees based on their vaccination status, and that the federal government will no longer treat employees differently depending on whether or not they are up to date with their jabs. If a federal employee is exposed to Covid-19, they will no longer have to experience different isolation requirements than other employees. This means not having to stay home and self-quarantine, provided they are asymptomatic. In addition, employees, contractors and visitors will not be asked to disclose their vaccination status before entering a federal building.