Having romanticized the experience of coffee-drinking through 28,000 outlets in 77 countries, the Starbucks CEO could now be setting his sails for POTUS. News-stands are bustling with speculation that Mr. Schultz had made clear his intentions a year in advance to the board. Former J.C. Penney Chairman Myron E. Ullman will brace the hot-seat at Starbucks, as the company prepares to honor Howard with the title of Chairman Emeritus.
Two weeks into the inquiry of a not so “unusual” case of racial bias at Target and the company fires one of the three security guards involved. Ashanae Davis, who was accused of shoplifting a bikini, was forced to strip in the presence of security guards & a female manager. Out of court settlements & apologies may work for now, but time is ticking for the company to mend employee-outlook before it steps on yet another landmine.
The controversy that has torpedoed into a major headache for Qatar Airlines CEO, Akbar Al Baker, has led him to issue an apology lamenting his words implying a woman couldn’t do his job. Baker pointed to the Airlines’ impeccable male-to-female workforce ratio, asserting he would love to strategize a succession plan which beckons a woman to succeed him.
Software development platform Github is now Microsoft’s. Agreeing to pay $7.5 Billion in stock options, the latter came out with an announcement on Monday. Co-founders Chris Wanstrath, Tom Preston-Werner & PJ Hyett could now walk into the Tres-Commas club with their net-worth in excess of a $1 Billion each. All said, investors such as Sequoia Capital, Andreessen Horowitz & Josh Kushner are promised bang for their buck with the acquisition.
The partnership which has led to many employees resigning and thousands more sounding alarm with a petition, may not be extended after next March. That is when the ongoing Pentagon-Google brotherhood officially ends. However, with company spokesperson being tight-lipped and a top leadership which is split into two, little can be taken for its face-value.
Ramesh Tainwala shall no longer serve as the company’s CEO. The crisis, which is dragging the luggage-maker into the mud, accuses it of financial malpractices. The company’s current CFO, Kyle Gendreau, is said to replace Tainwala with immediate effect. Last week, short selling firm Blue Orca had raised doubts over Samsonite’s relationship with multiple entities owned by Tainwala.
Crypto-exchange Huobi is establishing foundational offices in Sao Paolo. Following an aggressive Chinese hunt-down on cryptocurrency trading in 2017, the exchange planned contingencies to branch-out internationally. As a consequence of which, Canada, USA & Japan have seen a flurry of activity from the firm’s representatives. Token Exchange Players with substantial market share such as Bitfinex, Binance & OKEx are making similar strides to spread outwards of China.
Tuesday’s hour-long training, during which 8,000 outlets were temporarily shut, handed employees a golden chance to come to terms with customer-behavioral-nuances. The session, which encouraged employees to junk racial biases cost the company estimated $16.7 million in lost sales. Yet, against an almost $23 Billion revenue, that’s a small cost to pay to retain consumer confidence.
Marvin Ellison’s exit (to join Lowe’s) from JCPenny are yet to unfold in all its glory, yet the signs point to an imminent disaster. Having left the company debt-ridden, Marvin’s predecessor (Ron Johnson) passed a bucket full of worries on to his shoulders. Nevertheless, under Ellison’ rule the, debts were cut from $5 Billion to $4.1 Billion. Analysts feel, such immediate shivers for JCPenny, might turn into long-term cancer.
Under the new GDPR (General Data Protection Regulation) law, user applications (operating in EU) are mandated to obtain customer-consent, to use personal data for advertising. Contrary to this, Facebook & Google have been operating on a binary approach. A reason, good enough for the privacy group noyb.eu to litigate on. Perhaps, such measures need to be thrust by the authorities, lest the tech-giants violate “free choice”.
“Returnships”, will strive to pull back the untapped potential of those women, who for personal reasons had taken time off from their careers. Commencing in September, Walmart Labs would hire a batch of 20-30 individuals for branch-units in California, aiming to re-familiarize it with Software Engineering & Product Management. Upon evaluation, the practice will be spread to other locations in the US.
Amidst the rigmarole of reducing the manpower by 13,000 (over 5 years), the BT-board has decided to raise the salary of its CEO, Gavin Patterson. Having earned a total £2.3 million in 2017, Gavin’s base salary would now be upwards of £1 million. To be noted though is that Patterson forfeited his bonuses amidst last year’s financial scandal, an appreciable trait, especially when BT faced major push-backs.
The City’s council might shoot itself in the leg, in trying to fight an undying plague of homelessness as it prepares to tax major corporate firms. In an effort to inflate the treasury and then fund operations for the homeless, Seattle’s mayor gave official recognition to tax companies making atop $20 million in annual profits, not thinking (probably) that the same would spiral-down to $275/employee.
Ingrid Avendano, who quit her role following an emotional trauma, is filing for lost wages. The cause of her misery was a combination of unwelcomed advances and lewd comments from fellow male peers. The “particular” one in question, was fired taking cognizance of Ingrid’s complaints. The company-HR surely didn’t see it coming though, as the case emerges in the wake of a few policy-changes at Uber.
Or so it seems, as the Korean company shares its intentions of investing in a research lab in Cambridge. Jumping on to the chance of selling the UK’s new-image, Theresa May exclaimed that the move would “create high-skilled” jobs in the sector. Though Samsung has restrained from committing to any concrete number of positions, talk is, the lab might come to recruit about 150 scientists.
Thriving in London, the recruitment-centric application is all in to pursue candidates via personality tests and cognitive background assessments. Having secured an investment round of $6.7 million, the start-ups’ go-to-employee strategy, has helped land clients with the likes of Apple, Barclays & Google. Debut CEO Charlie Taylor claims employers like Vodafone & L'Oréal have availed the app benefits particularly, to add “diversity” to their shores.
Little is left to the imagination, especially when someone is caught red-handed, exploiting company-benefits. Employees at Canadian Tire were made to rue their actions as they were found reimbursing used receipts, left over by passengers. The company-HR, took a bold step when they fired the staff, following years of service, without pay. Yet, their stand was vindicated as the courts ruled in their favor.
PayPal just bought iZettle, to gain ground in the online payments space in Europe. The latter, who had plans for an upcoming-IPO at NASDAQ, will continue to make the most of its current CEO Jacob de Geer. Although rumors of a corporate tie-up had surfaced a lot in the last few years, the communion awaited Jacob’s approval, who was insistent on the company cultures, complementing each other.
Nope, that wasn’t a job advertisement but the way, Wan Long, CEO of WH Group $291 million last year. His KRAs – turning a state-owned, meat processing business into a Global Pork Brand. The company chair has made it his habit of turning meat into gold. For the record, Wan earned three-quarters of a billion in compensation from 2013 to 2017.
It’s fascinating to see that a tech-giant like IBM, should take so long to introduce a ban on removable devices, while others have already cut their cords with the subject. Still, the management has decreed. May, shall see IBM employees globally, ceasing the use of USB(s) at the workplace. Instead, the transfer of data will now be channeled through intra-office networks.
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