A unit of Pennsylvania’s Three Mile Island nuclear plant will be restarted as part of a new energy-sharing agreement with Microsoft, which plans to use it to power the data centers it operates as part of its push into artificial intelligence. In a joint release, Microsoft and Constellation Energy, Pennsylvania’s main utility, said Three Mile Island Unit 1, a unit ...
Boeing will temporarily furlough thousands of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, CEO Kelly Ortberg told employees on Wednesday. The furloughs will affect tens of thousands of Boeing employees, a company spokesperson said. The plan came less than a week after Boeing’s more than 30,000 machinists in the Seattle area and ...
JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street to examine how it treats its youngest employees. The firm named Ryland McClendon its global investment banking associate and analyst leader in a memo sent this month, CNBC has learned. Associates and analysts ...
Amazon announced Wednesday it is raising wages for its hourly warehouse workers and adding a new employee perk that will give them a Prime subscription at no extra cost. Beginning this month, Amazon’s average starting pay for front-line employees in the U.S. will be bumped to an average of more than $22 an hour, up from roughly $20.50 an hour, the company ...
In a federal courtroom on Monday, storied fashion designer Michael Kors spoke about the steep challenge of staying relevant in a world where brands can rise and fall based on viral TikTok videos and photos of handbags on the arms of celebrities such as Taylor Swift and Beyoncé. Kors kicked off the week of testimony in the antitrust trial in ...
Amazon is requiring its workers to return to the office full time. In a note published Monday by the e-commerce giant, Amazon CEO Andy Jassy, who took over from founder Jeff Bezos in 2020, said the move to end the company’s hybrid model was designed toward ‘being better set up to invent, collaborate, and be connected enough to each other ...
Charter Communications CEO Chris Winfrey said he wants customers to think of reliability and credibility when they think of their cable and broadband provider. The cable giant told CNBC it is unveiling a series of changes Monday to bolster that goal, including rolling out new bundles and pricing, increasing internet speeds, offering credits for service outages and promising heightened reliability for ...
Boeing announced sweeping cost cuts Monday, including a hiring freeze, a pause on nonessential staff travel and a reduction on supplier spending to preserve cash as it deals with a strike by more than 30,000 factory workers. Boeing factory workers, mostly in the Seattle area, started walking off the job early Friday after overwhelmingly rejecting a tentative labor deal, halting most of Boeing’s ...
Boeing’s factory workers walked off the job early Friday, halting production of the company’s best-selling airplanes after staff overwhelmingly rejected a new labor contract. It’s a costly development for the manufacturer that has struggled to ramp up production and restore its reputation following safety crises. Workers in the Seattle area and in Oregon voted 94.6% against a tentative agreement that Boeing and the International ...
Amazon is bumping its average national pay for contracted delivery drivers to roughly $22 an hour, up from $20.50 an hour, the company said Thursday. The wage increase is part of Amazon’s $2.1 billion investment this year into its delivery service partner program, which are the legions of contracted firms that handle last-mile delivery of packages from the company’s warehouses to shoppers’ doorsteps. ...