The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Hoboken NJ, Walmart, the nation’s largest private sector employer, is making significant changes to its corporate structure. The retail giant has announced layoffs and a return-to-office (RTO) mandate, impacting its New Jersey operations. Public filings reveal that Walmart is laying off 237 corporate workers starting August 14, 2024, as part of a broader restructuring effort.
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Ridgewood NJ, Unilever has unveiled plans to streamline its operations by separating its ice cream unit, which houses renowned brands like Ben & Jerry’s and Magnum, in a bid to sharpen its focus on core strengths.
Continue reading Unilever to cut 7,500 jobs and Spin off Ben & Jerry’s
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Trenton NJ, Governor Murphy and Lab or Commissioner Asaro-Angelo have been taking victory laps on New Jersey’s January 1st minimum wage raise :
Continue reading Unintended Consequences of Minimum Wage Increases
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Trenton NJ, New Jersey is set to become one of a handful of states with a minimum wage of at least $15/hour on January 1, 2024 when the rate increases to $15.13/hour, surpassing the goal set by Governor Murphy and the Legislature in 2019.
Continue reading New Jersey Set to Raise Minimum Wage January 1, 2024
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Mahwah NJ, the Sheraton Mahwah Hotel has issued a notice to the state that it intends to lay off 91 employees by Dec. 15. It is unclear if the layoffs signal a closing or only a service reduction at the hotel, but the word is for months that the hotel would be closing.
Continue reading Mahwah Sheraton Hotel Issues a Notice of Layoffs
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Paramus NJ, David’s Bridal, LLC (“the Company”), the nation’s leading bridal and special occasion authority, today announced that the Company and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the District of New Jersey (the “Court”). The Company expects to file a recognition proceeding in Canada and a subsidiary of David’s Bridal expects to commence an administration proceeding for its business in the United Kingdom.
Continue reading David’s Bridal Will Deliver Orders While Fire Seeks Bankruptcy Protection
Mark Zuckerberg reportedly said he doesn’t like seeing ‘managers managing managers,’ fueling speculation of more layoffs
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Ridgewood NJ, Mark Zuckerberg has reportedly stated that he is not a fan of multiple layers of management. The company’s Chief Product Officer wrote a post earlier this month about the need to ‘flatten’ the organization’s structure. All of this implies that further layoffs are likely. Meta made one of the largest staff reductions in its history in November, laying off more than 11,000 people. It is among the many tech companies that have reduced their workforces in the last few months.
Continue reading Facebook Founder Hints at More Layoffs to Come
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Ridgewood NJ, While Amazon, Salesforce and other giants across technology and finance have combined to fire tens of thousands of workers, small and medium-size US businesses have been on a hiring spree. So much so that, according to new data, overall hiring far exceeded expectations in December while applications for jobless benefits fell to a three-month low.
Continue reading Layoffs make Headlines but Companies have Been on a Hiring Spree
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Ridgewood NJ, a new broom sweeps clean, in the email, sent Thursday evening, Twitter said it would be notifying staff by email starting Friday morning about their employment . Its been reported that Elon Musk plans to eliminate about 3,700 jobs at Twitter Inc., or half of the social media company’s workforce, in a bid to drive down costs following his $44 billion acquisition.
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Ridgewood NJ, With Labor Day approaching and the unemployment rate at 10.2%, WalletHub today released a nationally representative Coronavirus & Labor Day Survey, which found that 1 in 3 Americans worry about job security. Below are highlights of the survey, along with a WalletHub Q&A (audio available).
Continue reading 1 in 3 Americans Worry About Job Security This Labor Day
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Trenton NJ, The 15 members of the Senate Republican caucus urged to Gov. Murphy to implement a real wage freeze for State employees to address a multi-billion budget shortfall, calling the administration’s limited efforts to achieve payroll savings “too little and too late.”
Continue reading Senate Republican Urge Wage Freeze for State employees to Lesson Layoffs
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Trenton NJ, Murphy’s state Treasury Department revealed on Wednesday it had lowered revenue projections by $10 billion through next year, including $2.8 billion shortfall in the current fiscal year and $7.3 billion in the next. Without a big influx of cash through borrowing or federal aid, the consequences for public workers are dire, he warned Thursday.
Continue reading Massive State Worker Furlough Bill Heads to Governor Murphy’s Desk
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TRENTON NJ, To further address the ongoing fiscal disruption and uncertainties caused by COVID-19, Governor Phil Murphy today signed Executive Order No. 137, rescinding Executive Order No. 73 (2019), which directed the Department of the Treasury to achieve a $1.276 billion surplus by the end of this current fiscal year.
“No one has been more committed to restoring our state’s fiscal foundation than I have,” said Governor Murphy. “We have spent the past two years working nonstop to build surpluses and put money aside for a rainy day fund. However, in the absence of significant federal assistance, we are on the brink of having to make very tough fiscal decisions, and a $1.28 billion surplus for this fiscal year is no longer realistic.”
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Trenton NJ, Governor Phil Murphy is scheduled to visit the White House this morning to meet with President Donald Trump as New Jersey seeks federal help to cope with the health and economic crisis of the coronavirus pandemic.
Continue reading NJ Governor Phil Murphy Heads to Washington Looking for a Federal Bailout
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Ridgewood NJ, Around 67 million Americans think they will have trouble paying their credit card bills due to coronavirus, according to WalletHub’s new Coronavirus Money Survey, released today. This survey, which follows WalletHub’s report on the States Most Aggressive Against the Coronavirus, illustrates some of the ways in which COVID-19 has impacted Americans’ lives and spending habits.
Continue reading 67 Million Americans Anticipate Trouble Paying Credit Card Bills Due to Coronavirus
