The UK economy is gaining momentum despite Brexit fears, says the OECD

The UK economy is gaining momentum despite Brexit fears, says the OECD whatsapp Jasper Jolly UK economic growth is gaining momentum despite concerns over Britain’s future EU trade deal, according to the Organisation for Economic Co-operation and Development (OECD).The composite leading indicator rose to 99.5, according to the group of richer nations, continuing a clear upward trend from July 2016, the month after the UK’s referendum on EU membership. Wednesday 8 February 2017 2:43 pm The leading indicator tries to identify turning points in the economy’s momentum above long-term averages before it shows up in growth figures. A reading of above 100 suggests the economy is growing steadily. Share Before the EU referendum the OECD predicted market turmoil if the UK voted to leave the EU. It was vindicated in the short term by market volatility, but in the months since the referendum the only markedly negative economic consequence for the UK has been the devaluation of sterling.The OECD said: “In the United Kingdom, there are tentative signs of growth gaining momentum, but the CLI remains below trend and uncertainty persists about the nature of the agreement the UK will eventually conclude with the EU.”Read more: OECD finds UK growth will be stable but slowThe indicator shows stable growth momentum for the 35 OECD countries. Larger Eurozone countries in particular are showing signs of a pick-up in growth momentum, with France and Germany among the best performers relative to the long-term average of the index.Growth in the US economy is also expected to accelerate in the next year with Donald Trump now confirmed President, along with major emerging economies such as China, Brazil and Russia. However, the OECD expects growth in India to lose momentum. Read more: Another Brexit downgrade for UK GDP growth from OECDThe OECD has predicted growth in the UK will fall steeply over the course of this year as the process of Brexit begins. It forecasts GDP growth of 1.2 per cent in 2017, well below the Bank of England, which now expects two per cent annual growth.The UK economy grew by two per cent in 2016, less than the 2.2 per cent rate recorded in the previous year. whatsapp read more

Prime Minister’s Questions is a British institution that deserves defending

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirrorzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comTheFashionBallAlica Schmidt Is The Most Beautiful Athlete To ExistTheFashionBall Share Prime Minister’s Questions is a British institution that deserves defending Nothing makes the House of Commons more interesting than the mastery of political debate manifested so finely in Prime Minister’s Questions (PMQs). Without it, parliamentary politics would increasingly lose its appeal and uniqueness.In the era of soundbites and spin, PMQs allows our leaders to challenge each other face-to-face, unaided and under the watchful eye of the public and media.  It’s exciting and offers us all something a little less sterile and predictable. PMQs serves a number of important functions. Not least, does it provide the leader of the opposition the chance to confront the ruling Prime Minister with a question he or she may otherwise have avoided answering elsewhere. It also gives the public a chance to view the case of the opposition and the credibility of its leader who could very well occupy 10 Downing Street in the future.  On top of this, PMQs gives back bench MPs on both sides of the House the chance to put their own questions to the Prime Minister directly.Read more: David Cameron’s first PMQs in full Tory government – The bunfight returnsSadly, this weekly masterpiece appears to be under threat.In a tacit reference to changing PMQs, Corbyn proclaimed that whilst he would attend PMQs for the time being, he wants to see “less theatre and more facts”.No further explanation has been offered as to why he finds PMQs so off putting. Perhaps 30 years of sitting in the back seat has made him a little bored of it. Maybe he is uncomfortable at the prospect of having to face off Cameron every week. Who knows? The point is, PMQs has become a rite of passage for future leaders. The ability of an opposition leader to perform well, comes with it the acceptance of the public that they may be well suited for the role of Prime Minister- a job which requires one to think quickly, on their feet, under pressure.Read more: As Cameron and Miliband prepare for final face-off check out PMQs Top TrumpsIt would be easy to accuse Corbyn of cosying up to his anti-establishment cronies, who have for many years pushed the platitudinous case for ‘reform’. However, it is the very theatre like performance at PMQs that so desperately needs defending.PMQs is admired the world over and for those of you who have seen it in person, I’m certain you would have had a memorable experience.Yes MPs should respect the rules of turn taking and be courteous to one another, but the well intentioned cheering and occasional jeering demonstrate passion, comradery and a flare of political conviction often lamented as lacking in modern day politics. The speaker of the House quite rightly has the ability to scrutinise conduct throughout all parliamentary sessions and if necessary, discipline a Member who behaves out of line.The old saying “If it ain’t broke, don’t fix I”’ springs to mind here. PMQs has in itself become a British institution and it deserves to be cherished. Changing it or preventing it from taking place in the manner to which it has lasted for so many years, would be a sad day for this country.  whatsapp Wednesday 16 September 2015 4:42 pm Show Comments ▼ James Nickerson whatsapplast_img read more

Blackberry Hearing – Ireland’s 5-star hearing aid provider – now offering paediatric hearing tests in Portlaoise

first_img Electric Picnic Electric Picnic Laois Councillor ‘amazed’ at Electric Picnic decision to apply for later date for 2021 festival WhatsApp Facebook Pinterest Twitter TAGSBlackberry Hearing Home Sponsored Blackberry Hearing – Ireland’s 5-star hearing aid provider – now offering paediatric… Sponsored Facebook Blackberry Hearing – Ireland’s 5-star hearing aid provider – now offering paediatric hearing tests in Portlaoise Blackberry Hearing are now offering paediatric hearing tests in Portlaoise. From left – Dave Gleeson (Co-Founder), Matt Gleeson (General Manager), John Ryan (Co-Founder) Ireland’s 5-Star* hearing aid provider, now offers paediatric hearing tests in Portlaoise.Established in 2015, by Dave Gleeson and John Ryan, Blackberry Hearing has quickly become Ireland’s largest Irish owned provider of quality hearing solutions.The company has established a reputation for value, transparency and excellence with Blackberry Hearing customers rating the company 5 out of 5 on Google Reviews!The company employs highly qualified audiologists to provide excellence in hearing loss diagnosis and prescription.Blackberry Hearing combines this with the best hearing aid technology available at more affordable prices than others. For example, modern hearing aids are discreet and stream directly with your smartphone and TV.With over 45 clinics nationwide, the company runs its Laois Clinic at the Boston Medical Centre, opposite the hospital in Portlaoise.With our Master’s Degree qualified audiologists, Blackberry Hearing is now offering concerned parents full hearing consultations for children over 4 years of age.To find out more, simply call our main office at 01 6978470 and our customer care staff will talk you through the process and even book you in for a consultation.SEE ALSO – Check out the Blackberry Hearing website here Pinterest Bizarre situation as Ben Brennan breaks up Fianna Fáil-Fine Gael arrangement to take Graiguecullen-Portarlington vice-chair role Electric Picnic organisers release statement following confirmation of new festival date RELATED ARTICLESMORE FROM AUTHOR Previous articleUber in Laois? Proposal to establish ‘lift-sharing’ service receives supportNext articleLaois County Council Fire and Rescue Service launch Halloween appeal LaoisToday Reporter Twitter WhatsApp By LaoisToday Reporter – 29th October 2020 News last_img read more

Nova Scotia tables budget with modest tax cuts

Keith Doucette Share this article and your comments with peers on social media Facebook LinkedIn Twitter Nova Scotia is forecasting a slightly smaller deficit in a spring budget that also offers modest tax cuts. The province’s NDP government tabled a $9.5-billion budget Tuesday with a projected deficit of $211.2-million for 2012-13. That is lower than the $260.8-million deficit it reported last month, mainly due to spending reductions by government departments and reduced debt servicing costs. Finance Minister Graham Steele said the budgetary figures meant the government would meet a key commitment to balance the books next year. “In a word, this budget is steady,” Steele said in his budget speech. “Next year, this province will have a real, sustainable surplus based on reliable revenues and reasonable expenditures.” As promised, the budget contained a number of personal income tax measures that the government said would save 78,000 Nova Scotians about $7.5 million. The savings would come from increases to three non-refundable personal income tax credits, including for single parents with children under 18, couples and anyone with a disability. Also, as announced Monday, the government said it would be reducing its small business tax rate by half a percentage point from 4% to 3.5% resulting in savings of $10 million annually. It’s the third straight year the tax has been cut by half a percentage point and the government says that will result in a savings of up to $6,000 per year per business beginning Jan. 1. As part of its cost-cutting measures, the government said it will proceed with a previously announced 1.3% reduction in overall funding to school boards. The $13.4 million cut comes as the province braces for an expected enrolment decline of 1.7% this year. But spending for heath care is up 2.5% to $3.9 billion. The government says it will also close its office in Ottawa, saving $500,000 a year. The government said its overall net debt, which stands at $13.3 billion, is projected to hit $13.7 billion as of March 31, 2013. read more

OSC announces Continuous Disclosure Advisory Committee members

first_imgJames Langton OSC vice-chair’s position extended to 2022 Facebook LinkedIn Twitter Share this article and your comments with peers on social media SEC names new top cop The new committee members will serve two-year terms, effective immediately. They are expected to meet about five times per year. The new members include Parham Nasseri from OBSI, Catherine McCall from CCGG, and Eleanor Fritz from TMX Group Inc., along with a list of representatives from Bay Street’s major law and accounting firms. Bay Street firms represented on the new CDAC include: Blake, Cassels & Graydon LLP; Davies Ward Phillips & Vineberg LLP; PricewaterhouseCoopers LLP; Ernst & Young LLP; Norton Rose Fulbright LLP; KPMG LLP; and Wildeboer Dellelce LLP. The committee also includes members from Veritas Investment Research, and a couple of issuers, Magna International Inc. and Iamgold Corp.center_img Keywords AppointmentsCompanies Ontario Securities Commission OSC adds vice chair, commissioner Related news Representatives from the Ombudsman for Banking Services and Investments (OBSI) and the Canadian Coalition for Good Governance (CCGG) feature among the new appointees to the Ontario Securities Commission’s (OSC) Continuous Disclosure Advisory Committee (CDAC). The OSC announced the lineup for the latest incarnation of its CDAC on Tuesday. The committee advises OSC staff on their efforts to review continuous disclosure, along with any related policies addressing continuous disclosure issues. The committee also provides the OSC with advice on any emerging issues involving continuous disclosure. last_img read more

After in-house reporting fails, tip to SEC pays off

first_img Related news Share this article and your comments with peers on social media Mouth mechanic turned market manipulator The commission noted that the whistleblower was eligible for an award because they first reported internally and waited the required 120 days before also alerting the SEC. The tipster also provided “significant information” that “helped focus an ongoing investigation on the violations that were ultimately charged.”“To ensure that important information about securities laws violations is reported to the SEC when appropriate corrective action is not taken by the company, the rules permit awards to compliance professionals in certain limited circumstances,” said Jane Norberg, chief of the SEC’s Office of the Whistleblower, in a statement.“Here, the whistleblower made reasonable efforts to work within the company’s compliance structure, suffered unique hardships as a result, and reported to the commission after the requisite time period had passed, ultimately providing meaningful assistance to the commission’s investigation and subsequent enforcement action,” she said.The SEC has now paid over US$396 million to 77 whistleblowers since its initiative that pays financial awards launched in 2012. James Langton Facebook LinkedIn Twitter Keywords Whistleblowers,  EnforcementCompanies Securities and Exchange Commission BFI investors plead for firm’s sale A compliance professional-turned-whistleblower who ran into trouble trying to report misconduct internally has now been rewarded for taking the information to the U.S. Securities and Exchange Commission (SEC).The SEC has paid that whistleblower US$450,000 — marking the third time the commission has awarded a tipster who worked in a compliance or internal audit role within the company where the misconduct occurred. PwC alleges deleted emails, unusual transactions in Bridging Finance case Whistleblower lightwise/123RFlast_img read more

Prime Minister welcomes significant uplift in key public sector jobs

first_imgPrime Minister welcomes significant uplift in key public sector jobs NHS recruitment drive boosts the number of doctors by more than 6,000 and nurses by 13,000.Almost 6,000 police officers have been hired as part of the Government’s commitment to reach 20,000 additional officers by the end of this Parliament.41,000 new trainee teachers were recruited during 2020.PM calls on those looking for jobs or a career change to consider frontline public sector roles in 2021.The Prime Minister today reaffirmed his commitment to boost the numbers of teachers, police officers, nurses and other public sector workers as part of the Government’s drive to build back better from the Covid pandemic in 2021.In a year which saw the number of nurses grow by more than 13,000, police officers by 6,000, and teachers by 41,000, the Prime Minister will make continuing to recruit the brightest and best into frontline public sector roles a priority in 2021.Campaigns to hire more NHS staff, teachers, prison officers will be ramped up throughout the year, with ministers ready to redouble efforts to fill frontline roles to further support public services.Prime Minister Boris Johnson said:We have the very best public servants and I feel an enormous sense of admiration when I think about the care, fortitude and determination with which our doctors, nurses, teachers, police officers and prison workers have faced up to the challenges of the pandemic.There is light at the end of the Covid tunnel – the vaccine provides increasing hope of returning to normality by Easter and I am determined that we build back better from the pandemic and take advantage of the opportunities that are ahead.My commitment to recruit more teachers, nurses, police officers and other frontline workers is unwavering. We have made good progress this year, but 2021 will be a year of growth and renewal – and having the very best frontline workers will be a critical part of that.Annual recruitment figures for key frontline positions are as follows:NHS and Social CareFigures from the Department of Health and Social Care reveal that the number of nurses in the NHS in England increased by 13,313 last year to a record 299,184. The Government is committed to delivering 50,000 more nurses by the end of this Parliament. The number of doctors also rose, with an additional 6,030 to a record 122,446, latest figures up until September show.The number of nursing and midwifery students accepting places at university this year increased by a record 26% compared to last year, and professionally qualified clinical staff including paramedics are at record levels, as are scientific, therapeutic, and technical staff.The starting pay for a newly qualified nurse has risen by over 12% since 2017/18. Most existing nurses have also seen a pay rise of at least 6.5% over the course of the latest pay deal.The NHS Pension Scheme is also one of the most comprehensive and generous schemes in the UK, where the employer pays a contribution equal to 20.68% of salary towards the cost of the pension.TeachersFigures show that 41,000 new trainees were recruited during 2020. This year we announced the biggest pay rise the teaching profession has seen since 2005, with above-inflation rises to the pay ranges for every single teacher in the country.Police OfficersThe Government has already recruited almost 6,000 extra police officers, putting us on track to hit the target of bringing in an additional 20,000 police officers this Parliament. In July, the Government announced that police pay would rise by 2.5% in 2020 to 2021, providing officers with an increase above inflation for the second year running.Border ForceAs part of preparations for Brexit, around 900 additional operational staff were recruited in the 2019/20 financial year and a further 1,100 staff will be recruited by July 2021.Prison OfficersDuring 2020, a further 1,760 prison officers were recruited across England and Wales, alongside an additional 443 probation officers. The Ministry of Justice plans to recruit a further 3,200 prison officers and 1,500 probation officers during the financial year 2021/22. In July, the Government announced a pay rise of at least 2.5% for all prison staff – with cumulative awards of up to 7.5% for some staff when progression pay is taken into account.As part of efforts to recruit key frontline posts across the NHS, police, teaching and prisons, public-facing campaigns will ramp up during 2021.A new TV advertising drive for police officers will launch on Tuesday (5th January) across England and Wales. The campaign aims to showcase the difference that police officers make to their communities – including those from underrepresented groups.Meanwhile, targeted campaigns in areas with the highest prison officer vacancies will continue during 2021, as will specific campaigns for further recruitment of teachers, doctors and nurses. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Boris Johnson, campaign, Department of Health, Government, inflation, justice, midwifery, Minister, paramedics, parliament, pay rise, Prime Minister, students, UK, UK Government, universitylast_img read more

AgriStarter loans of up to $2 million now open

first_imgAgriStarter loans of up to $2 million now open AgriStarter loan applications are now open to support the next generation of farmers, as well as current farm businesses who are planning for and implementing succession arrangements.Eligible applicants can borrow up to $2 million over 10 years, with the first five years interest only, followed by five years’ principal and interest repayments. New entrants, farm businesses or successors can use the AgriStarter loan to fund the purchase, establishment, or development of a first farm business, pay costs associated with the succession planning process, or to buy out relatives during farm business succession.  AgForce has been working closely with the Regional Investment Corporation, who administer the AgriStarter loans, as well as several other loans including for drought, and the Federal Government, to reduce loan processing times, and we will continue to do so. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:AgForce, business, drought, Federal, federal government, Government, Investment, loan, purchase, QLD, Queenslandlast_img read more

Chancellor’s Corner: Black history is our history

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Published: Feb. 15, 2013 As we celebrate Black History Month, we realize our African-American heroes are also our American heroes: Martin Luther King, Rosa Parks, Harriet Tubman, Frederick Douglass, Jackie Robinson, the Tuskegee Airmen, the architects of the Underground Railroad, the Little Rock Nine, and those who lost their lives or loved ones in the ugly but important domestic battles of the Civil Rights Movement. There are many more heroes, too many to name here.Locally, leaders like Rachel Noel, the first African-American member of the CU Board of Regents (1976), bravely integrated Denver Public Schools as a member of its school board despite school bus arsons and death threats to her and her family in 1968. Carlotta Walls Lanier, one of the Little Rock Nine, helped pave the way for equal education for her daughter, Brooke, a CU-Boulder graduate, and millions of American schoolchildren. Every day, our faculty, staff and students of color continue their legacy in advocating for inclusion, diversity and excellence in our community of learning.Our past was built on uncommon tenacity and courage. Now, what is our future? The perseverance of these visionary leaders laid the foundation for more work to come. The struggle for equality and justice for all – the eternal American struggle – remains as pressing today as in times past, and rests squarely upon our shoulders as much as it ever has. We see it in new debates involving immigration and civil unions. We see it in the challenge to eliminate institutional racism and inequality in education, the workplace and in every facet of American life.As we continue this important, unfinished work we can think of a day when we will not need Black History Month to remind us that African-American history is a part of all of us, interwoven in our American historical and cultural fabric. As Associate Professor Reiland Rabaka notes in this fine student-produced video, “All of America is better now because of the contributions of African-Americans.”He’s right. Black history is American history — our history. It’s also a potent set of lessons, guideposts and inspirations for our campus community as we act to fulfill the promise of equality, justice and opportunity in our time.last_img read more

WeWork cuts nearly 20% of workforce in restructuring effort

first_imgHomeBusinessWeWork cuts nearly 20% of workforce in restructuring effort Nov. 22, 2019 at 5:00 amBusinessNewsWeWork cuts nearly 20% of workforce in restructuring effortAssociated Press2 years agoAdam NeumannbankruptcyrestructuringWeWork ALEXANDRA OLSONAP Business WriterWeWork is slashing nearly 20% of its workforce, embarking on a painful restructuring of its money-losing operation that doomed its stock market debut and left the office-sharing company on the brink of bankruptcy.WeWork said it has laid off 2,400 of its approximately 12,500 employees to “create a more efficient organization.” The job cuts began weeks ago in regions around the world and continued this week in the U.S, the company said in a statement Thursday.WeWork said the employees who lost their jobs “are incredibly talented professionals,” but gave no details about which roles were cut.In an email to employees earlier this week, executive chairman Marcelo Claure said jobs would be eliminated in areas that “do not directly support our core business goals,” referring to WeWork’s main office-leasing operations.Additionally, about 1,000 cleaning and maintenance jobs in the U.S. and Canada are being outsourced to another firm that will contract the workers back to WeWork for the time being.The New York-based company is scaling back the explosive growth that put its sleekly designed shared office spaces in 122 cities around the world while racking up massive losses that ultimately put off Wall Street investors and doomed its IPO.WeWork is shedding side business and dumping or scaling back projects started under the grandiose but scattered vision of ousted co-founder Adam Neumann, including a Manhattan elementary school and the shared residential offering WeLive.Claure plans to lay out a five-year turnaround a plan at company-wide meeting Friday amid employee anger over the mismanagement of a company that until recently had been the darling of the startup world, valued at $47 billion by private investors.WeWork was saved from financial collapse with a $9.5 billion bailout from Japanese tech conglomerate Softbank, which now owns 80% of the company. That bailout reportedly valued WeWork at around $8 billion, devastating for many employees facing a reduction in the value of their stock options. Resentment grew following a $1.7 billion payout to Neumann, whose controversial corporate governance practices contributed to skepticism in Wall Street about WeWork.In a letter to management last month, a group of WeWork employees said the unraveling of the IPO revealed “deception, exclusion and selfishness playing out at the company’s highest levels.” The group, calling itself the WeWorkers Coalition, asked that laid off employees be fairly compensated for lost equity, and that those who remain being given a bigger voice in the future of the company.Of Neumann’s compensation package, the workers said, “we are not asking for this level of graft.”“We are asking to be treated with humanity and dignity so we can continue living life while searching to make a living elsewhere,” the letter said.About 275 employees are participating in the coalition’s private slack channel, said Alan Friedman, a senior software engineer who started the group with colleagues in New York last month.In its statement, WeWork said the laid off employees will “receive severance, continued benefits, and other forms of assistance to aid in their career transition.”Over the weekend, the WeWorkers Coalition raised a number of concerns regarding the future of the cleaning and maintenance employees who are being transferred on Dec. 9, including what would happen to their stock options and employer’s contribution to the 401(k) retirement savings plans for 2019.The employees were sent the new job offers last week and were given until Monday to accept, although the outside company, JLL, said any employees who had not responded would be personally contacted to make sure they had seen the letter.Workers who declined the offer would be considered to have voluntarily resigned, forgoing severance payments. The WeWorkers coalition objected to that requirement, saying workers were not given enough time to understand their new jobs.Arik Benzino, WeWork’s managing director for the U.S. and Canada, told the affected workers in an email last week that their pay would remain the same and they would keep their shift assignments “for the time being.” The email did not address benefits or stock options. In a statement released this week, WeWork said the employees would receive a one-time lump sum payment equal to what they would have received as a 401(k) plan for the year.WeWork faces a steep road to transform itself into a self-sustaining operation with a path toward profitability.Spending ballooned as it geared up toward its doomed IPO, resulting in a record $1.25 billion in losses in the third quarter of 2019, eclipsing $934 million in revenue. It added 103 new office-sharing locations during that time period, meaning it is now saddled with the costs of building out many of those properties.Tags :Adam NeumannbankruptcyrestructuringWeWorkshare on Facebookshare on Twitteradd a commentMan kills himself underneath PierSMC Men’s Water Polo Wrap UpYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall7 hours agoNewsCouncil picks new City ManagerBrennon Dixson18 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter18 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor18 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press18 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press18 hours agolast_img read more