Fiat Chrysler executives, salaried employees to take pay cuts during coronavirus pandemic
Fiat Chrysler Automobiles NV’s top executives and salaried workers around the globe will take pay cuts in an act of “shared sacrifice” brought on by the coronavirus pandemic that has shuttered the automaker’s plants in Europe and North America, accor…
Air New Zealand to lay off 3,500 employees as virus halts travel
Air New Zealand said on Tuesday nearly a third of its employees, about 3,500, will be laid off in the coming months, as it grapples with severe global travel curbs due to the coronavirus that has forced it to cancel nearly all flights.
Instacart workers strike as labor unrest grows during coronavirus crisis
Some of the roughly 200,000 workers at U.S. online grocery delivery company Instacart said they were striking on Monday as labor unrest grows globally over safety and wages for people working through the coronavirus crisis.
Workers go on strike at Amazon delivery site in Italy amid coronavirus
Around one-third of those working at an Amazon delivery station in central Italy went on strike on Monday, a union representative said, citing a request for enhanced safety measures for workers amid the coronavirus health emergency.
Wall Street rallies, led by healthcare jump
U.S. stocks rose on Monday, led in part by healthcare stocks as investors looked for shares that have become cheap and can withstand the impact to the economy from efforts to stem the spread of the coronavirus.
Fiat Chrysler CEO to halve his salary for three months in virus response: letter
Fiat Chrysler top executives will temporarily cut their salaries to preserve the automaker’s financial soundness during the coronavirus emergency, Chief Executive Mike Manley told employees on Monday.
World equity markets edge higher; oil plunges to 2002 lows
Global equity benchmarks rose on Monday despite a drop in oil prices to their lowest levels since 2002, as central banks and the United States tried to contain damage from the rapidly spreading coronavirus that has upended the global economy.
U.S. senators scrutinize meat packers’ big profits during pandemic
U.S. senators are calling for investigations of record profit margins for beef processors like Tyson Foods and Cargill, after ranchers complained surging meat prices due to coronavirus hoarding did not translate into higher cattle prices.
Macy’s, Kohl’s to furlough employees as virus crisis keeps stores shut
Department store operators Macy’s Inc and Kohl’s Corp said on Monday they would furlough thousands of employees as U.S. retailers keep their stores shut to curb the spread of the coronavirus outbreak.
JPMorgan plans to raise up to $10 billion for alternative investments: source
JPMorgan Chase & Co’s alternative investments unit is looking to raise up to $10 billion to boost its spending power in the face of the coronavirus pandemic, a source familiar with the matter said on Monday.
