Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Many Facebook employees work from home all the time: live updates

Many Facebook employees work from home all the time: live updates

Facebook will allow many of its employees to work permanently from home, said Mark Zuckerberg, Facebook’s CEO, during a staff meeting that was broadcast live on his Facebook page.

The social media giant sent its employees home in March when the coronavirus began to spread in the United States. Mr Zuckerberg said the temporary changes caused by the virus prompted the company to reassess its requirement for employees to work in a shared office. Within a decade, he said half of the company’s more than 45,000 employees would work from home.

Facebook will start by allowing new employees who are senior engineers to work remotely, and then allow current employees to apply for a work permit from home if they have positive feedback on performance.

This is a “decline without modern precedent,” said the Fed chairman.

Jerome H. Powell, the chairman of the Federal Reserve and other senior central bank officials warned on Thursday that the United States was experiencing extreme shock from the coronavirus pandemic and that it was wildly unclear when and how low unemployment would be and widespread prosperity would return.

“In the best of times, it is difficult to predict the path of the economy with certainty,” he added. “We are now experiencing a whole new level of uncertainty, as questions that only a virus can answer complicate the perspective.”

The Fed chief’s comments highlighted a point his colleagues have repeatedly made in a series of speeches on Thursday: The road to recovery is not obvious, as the economy and labor market have suffered the biggest shock in generations. Against this background, as several have said, both Fed politicians and those in Congress and the White House must be prepared to do more if necessary.

“Depending on the course the virus takes and the depth and duration of the downturn it causes, additional support from both monetary and fiscal policy may be required,” said Richard H. Clarida, the Fed’s vice president, during of an event earlier in the day.

And there is a growing fear that many jobs will not return, even for those they consider to be temporarily laid off.

Airports this Remembrance Day weekend are likely to be far more empty than usual, but people planning to fly will find many changes in every part of the screening process.

On security lines, signs and other markings will remind passengers to keep their distance. The Transport Security Administration said on Thursday that its agents would wear masks, gloves and, in some cases, eye protection. Passengers will be asked to scan their own boarding boxes and place food in their luggage in a separate bin during the check-up to limit cross-contamination.

“In the interest of T.S.A. frontline workers and passenger health, T.S.A. is committed to making reasonable changes to our screening processes to limit physical contact and maximize physical distance, “said agency administrator David Pekoske in a statement.

Most normal rules remain in effect, but T.S.A. said one thing would be relaxed: passengers would now be able to bring up to 12 ounces of hand sanitizer during their trip.

Airlines are also making changes. Travelers who need to check a bag or print a ticket, for example, can find a sneeze guard that separates them from a ticket agent, and in some places precautions are taken by United Airlines and Delta Air LinesIf they choose to use a pavilion instead, passengers can interact with one that operates without any need for contact.

The answer for now is maybe.

It is unclear whether lawmakers will agree to extend the unemployment benefits that were included in the $ 2 trillion stimulus package passed in March, which provides an additional $ 600 a week for workers applying for unemployment.

This enhanced benefit expires in late July, and the House Democrats included a provision in the $ 3 trillion stimulus bill it passed on Friday to extend it until January 2021.

But Republicans have rejected the measure, along with the entire House bill, and have no plans to vote in the Senate. They expressed concern that the greater benefit created a dissuasive effect on work.

In a private phone call to Republicans from the House Wednesday afternoon, Sen. Mitch McConnell of Kentucky, the majority leader, promised that Republicans would “clean up the crazy Democrat policy that pays people more to lose their jobs than they would if they returned.” to work. “

Democrats have repeatedly lashed out at Republicans for what Sen. Chuck Schumer, the minority leader of New York, called Thursday a “shocking” level of inaction in coronavirus legislation.

The layoffs represent 17 percent of the total staff, according to a statement from The Atlantic. Executives will reduce their salaries and there will be general pay freezes.

According to Bradley, the long-term strategic shift to a business model that relies primarily on readers’ revenues is “accelerated – and imposed – by overnight stays and the almost complete abolition of personality. events and so far a restrictive decline in advertising. “

Last year, Atlantic created an online paid wall and has added 160,000 new subscribers since then, Mr Bradley said. More than 90,000 of them have been added since March. The magazine, which is 163 years old and was once edited by Ralph Waldo Emerson, has received widespread praise for its coverage of the pandemic.

Three years ago, Mr Bradley sold a majority stake in Atlantic Media to Emerson Collective, the organization founded by billionaire Lauren Powell Jobs.

L brandwhich owns Bathroom and body work and Victoria’s Secret, reiterated its commitment to split the two companies on Thursday and said Victoria’s Secret would close 250 stores in the United States and Canada this year, reducing its fleet to about 850 seats.

The company said it was calling for a profit on Thursday, expecting more closures of Victoria’s Secret stores next year and in 2022. Bath & Body Works will close some stores but also reopen others as it works to exit certain “risky properties in mall. “

Bath & Body Works was a bright spot with an 85 percent jump in digital sales due to the huge demand for disinfectant and hand soap. The brand said it was calling for a profit by trying to keep up with the rapid purchase of disinfectants both online and in stores.

The company that also owns Bloomingdales and Bluemercurysaid March was “very difficult”, but that its digital business exceeded expectations in April.

Macy’s, which announced an ambitious plan to open all 775 stores by the end of June, said Thursday that its plan is on track and that it has already opened 190 locations on Macy’s and Bloomingdale. He planned to open 80 more Macy stores before this weekend.

Initially, Macy expected only 15 percent of her typical open store business, but “he’s coming stronger than that,” said Jeff Janet, the company’s chief executive, during a presentation Thursday. Businesses are down about 50 percent in open stores and improving with each week the store is open, he said.

Mr Genet added that outside of digital sales, he has had new success with feeding curbs and is working with New York to add the service to his flagship store in Herald Square in the coming weeks.

Macy plans to offer another business update on June 9, before officially reporting first-quarter results.

Shares of Wall Street fell on Thursday, withdrawing after the main indicators gathered the day before.

The S&P 500 fell below 1%, and global performance was also lower.

It has been a tumultuous week for markets, with stocks alternating between gains and losses every day as investors appreciate new economic developments and the prospect of the business opening its doors to customers.

On Thursday, data on unemployment claims from the Ministry of Labor showed that the jump in layoffs reached more than 38 million in nine weeks.

Catch up: Here’s what else is happening.

  • TJ X., the owner of T. J. Maxx,, The Marshall Islands and HomeGoods, said its sales fell 52 percent to $ 4.4 billion in the first quarter due to store closures, pushing the company to a net loss of $ 887 million. But the retailer said it was encouraged by “very strong sales” as the business resumed. The company has fully or partially open stores in 25 states and expects most of its locations to be open by the end of June based on government guidelines.

Reports were contributed by Jeanne Smialek, Kate Conger, Emily Cochrane, Niraj Chokshi, Geneva Abdul, Jack Nikas, Patricia Cohen, Mark Tracy, Mohamed Hadi, Sapna Maheshwari, Alexandra Stevenson, Cao Lee, Carlos Kettian Tedavin .

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