Michael Preysman, Everlane’s CEO, publicly pushed back against Sanders. In a tweet from the company’s handle, he said the employees’ dismissal wasn’t because of the unionization efforts, but because the company as a whole is suffering as a result of this crisis, particularly because the business isn’t profitable. He said all part-time positions have been eliminated, but that Everlane has converted 20 customer experience workers into full-time employees with benefits. I reached out to him for an interview, but he wasn’t available before press time. … [Read more...] about Bernie Sanders picks a Twitter fight with Everlane’s CEO
At the state level in New York, lawmakers are also considering a 90-day rent freeze, which would go further than the existing moratoriums on rent and mortgages in the state, allowing tenants to stop paying rent while providing relief for landlords. “Tenants who don’t have income are obviously not going to be paying rent,” state senator Michael Gianaris, who introduced the bill, told New York Magazine. “Whether we put some kind of regulatory structure around it or not, we have to recognize the reality on the ground.” Gianaris is working to try to pass the bill immediately, though it’s not clear how quickly it can happen. … [Read more...] about How are people supposed to pay April rent if they lost their jobs due to coronavirus?
Kassoy argues that B Corps, which have to meet strict standards for social and environmental performance, are actually better prepared to weather crises; during the last financial crisis, B Corps were 63% more likely than other businesses of a similar size to make it through the downturn. “We think that’s because those companies were more resilient,” he says. “They had stronger relationships with their workers, or their customers, or through their supply chains, that allowed them to make it through. I hope that we’ll see something similar this time around.” … [Read more...] about How businesses could emerge better after COVID-19, according to B Lab
If you are facing a financial crunch due to the Coronavirus Disease’s (COVID-19) economic impact, you can now dip into your employees’ provident fund (EPF) corpus to survive the crisis. After Finance Minister Nirmala Sitharaman’s announcement on March 26 permitting such withdrawals, the Employees’ Provident Fund Organisation (EPFO) has now operationalised the process for facilitating this withdrawal. It is termed ‘non-refundable advance’ in official parlance. … [Read more...] about COVID-19: How much can you withdraw from your EPF?
Gravity’s salary cuts will go into effect next pay period, and the company will reassess every 30 days. Price says they’re working on ways to make up for the lost wages, including possibly giving employees equity and formalizing the pay cut as deferred compensation. “But it’s important to know that none of these workers have any expectations that they will be paid back,” he says. “Their main motivation was to make sure that none of their coworkers would get laid off.” … [Read more...] about How one tech company avoided layoffs even when revenue was cut in half