- Category: Round Up of News From the Web
Employers are increasingly forcing employees to give up their right to sue in court and to accept private arbitration as their only remedy for violations of statutory and common law rights. Private arbitration can forbid class actions, limit damages, allow the employer to choose the arbitrator, and cut off appeals, resulting in a system unfairly...
GOP candidates boast about building a physical wall to keep poor Mexican immigrants out of America. They fail to offer an economic barrier to prevent U.S. corporations from impoverishing American workers by exporting their jobs to Mexico.
In the week before Valentine’s Day, United Technologies expressed its love for its devoted Indiana employees, workers whose labor had kept the corporation profitable, by informing 2,100 of them at two facilities that it was shipping their factories, their jobs, their communities’ resources to Mexico.
2015 was a tough year for oil driller Schlumberger. Unless you were the CEO.
The company cut 25,000 jobs during the year, or 20% of its workforce. Revenue was down 27%, and profit plunged 41%.
Schlumberger (SLB) shares tumbled 18%.
CEO Paal Kibsgaard received total compensation worth $18.3 million in 2015, the company reported, down only slightly from $18.5 million the year before. The modest drop in Kibsgaard's compensation was the result of the performance of his pension plan. His base salary and stock were up from 2014 levels. The cash he took home jumped 12% to $5.2 million.