Posts tagged cost-cutting
Queens immigration nonprofit lays off staff, angering new union
June 1, 2025 // On March 27, Mendoza and other employees on the New York branch of the nonprofit received an email that there would be layoffs and cuts to working hours. Last week, following two months of deliberations, the nonprofit said they would be moving forward with the layoffs, effective at the end of May. The unionized workers, who belong to a local chapter of the United Auto Workers, are fighting the layoffs, believing they are a direct result of their unionizing efforts and subsequent contract.
GM expects labor contracts to cost an additional $9.3 billion
November 29, 2023 // In their Wednesday business update, GM told investors and customers that the contracts, which included massive pay and benefit increases for its workers, would cost the company significantly. The car giant also reinstated its 2023 business guidance and announced a $10 accelerated stock buyback. Additionally, GM released its estimate for how much the UAW strike cost the firm. According to the Wednesday announcement, GM estimates that the strikes, which began in September and ended late last month, cost the company around $1.1 billion, with bonuses and other benefit increases likely costing the company an additional $200 million before the end of the year.