Keyword: buyout
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Topline A federal judge temporarily blocked President Donald Trump’s buyout offer to federal civilian employees from taking effect Thursday, hours before the deadline the administration set for more than 2 million employees to decide whether to take resignation packages with pay through September. Timeline Feb. 6: A federal judge in Massachusetts pushed back the deadline for employees to accept the offer, initially set for 11:59 p.m. Thursday, until at least Monday in response to a lawsuit filed by federal workers unions that argued the administration could not guarantee pay beyond March 14 expiration date for the existing budget. Feb. 5:...
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Fearful U.S. government workers weighed whether to take a buyout offer from the Trump administration ahead of a Thursday deadline, as officials pressed ahead with a restructuring effort that could dramatically shrink the U.S. civil service. Federal worker unions urged their members not to take the offers and said they may not be legal, despite administration assurances. The unions sued to block the offer, with a court hearing scheduled for 1 p.m. Eastern time on Thursday (1800 GMT). At least 40,000 have taken the deal so far, according to a White House source, about 2% of the government's 2.3 million...
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SNIPFederal employees have started receiving an email from their specific agency's HR department that contains a PDF contract version of the deferred resignation offer that was sent around last week by the U.S Office of Personnel Management, according to multiple federal employees across multiple agencies who shared the emails with ABC News.The contract largely lays out what OPM has previously stated would be offered if an employee accepts the deal -- with one major addition: The contract states that by signing, the employee "forever waives" the right to take legal action against the agency regarding their employment or the deferred...
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The CIA just offered their ENTIRE workforce the option to quit in exchange for eight months’ pay.
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About 20,000 federal workers have accepted the "buyout" offer put forward by the Trump administration last week, a senior administration official tells Axios. Why it matters: It's a significant number of people — about 1% of the federal workforce — but still substantially less than the White House's target of 5% to 10%. The offer is open through Thursday, meaning the total could rise, despite heavy opposition from unions and others. What they're saying: "We expect more to come. If you see what's happening at USAID, it's just one piece of the puzzle," the official said, referring to the rapid...
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Government workers are reeling after President Donald Trump’s administration presented a “payout” to federal employees refusing to return to the office on a full-time basis. The U.S. Office of Personnel Management (OPM) sent an email to millions of government employees on Tuesday, offering eight months of pay if they resigned by Feb. 6. In response, federal employees and Democratic representatives have lodged anonymous complaints to media outlets. This followed Trump’s executive order forcing government workers to return to the office on a full-time basis on Jan. 20. “It was the batshit craziest email I’ve ever read,” one anonymous employee told...
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President Donald Trump's administration is offering federal workers the chance to take a "deferred resignation," which would mean they agree now to resign but get paid through September. A senior administration official told NBC News that they expect 5%-10% of the federal workforce to quit, which, they estimate, could lead to around $100 billion in savings.
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US Vice President and Democratic presidential candidate Kamala Harris visited Pittsburgh for the Labor Day holiday with President Biden. There, she declared that United States Steel should remain domestically owned and operated, yet another high-profile critic of US Steel’s proposed sale to Japan’s Nippon Steel. “US Steel is a historic American company, and it is vital for our nation to maintain strong American steel companies,” Harris told the audience at Union Hall in Pittsburgh, where US Steel is headquartered. She said, “I couldn’t agree more with President Biden — US Steel should remain American-owned, and American-operated. And I will always...
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Elon Musk said Twitter was still losing money, blaming a "heavy debt load" and sliding advertising revenue.In a tweet replying to a user who suggested Musk get a consortium together to buy Twitter's debt, he bemoaned the company's uncomfortable financial position."We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," Musk tweeted. "Need to reach positive cash flow before we have the luxury of anything else." Musk's made sweeping changes to Twitter since paying $44 billion to buy it last October, including cutting about 90% of the workforce.Still, Musk faces a steep uphill battle...
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The Dutch government launched its long-anticipated Great Reset-style farmer buyout scheme on Monday, which could potentially see upwards of ten thousand farms shut down forever to fall in line with the green agenda of the European Union. Following years of political wrangling, the government of The Netherlands has launched its programme for buying out farms that do not comply with the EU’s Natura 2000 scheme supposedly meant to protect environmentally sensitive areas. The buyout programme will initially impact approximately 3,000 privately-owned farms which are deemed to emit too much nitrogen.
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DETROIT – General Motors will offer voluntary buyouts to a “majority” of its 58,000 U.S. white-collar employees, as it aims to cut $2 billion in structural costs over the next two years, according to a letter sent to workers Thursday from CEO Mary Barra. The “Voluntary Separation Program,” or VSP, will be offered to all U.S. salaried employees who have spent five or more years at the company as of June 30. Outside of the U.S., the automaker will offer buyouts to executives with at least two years of time at the company. GM expects to take a pretax charge...
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A class-action lawsuit has been filed against Twitter over Elon Musk’s plan to sack thousands of staffers, alleging that employees weren’t given enough notice of the mass layoffs in violation of federal and California law. The lawsuit was filed Thursday in San Francisco federal court after the company notified employees it would eliminate some 3,700 jobs, half its workforce, Bloomberg News reported. It seeks an order requiring the social media platform to obey the WARN Act — the Worker Adjustment and Retraining Notification Act, a federal law requiring companies with 100 or more workers to give 60 days’ notice of...
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Major job cuts are coming to Twitter whether or not Elon Musk acquires the social media company. Musk has told prospective investors that he plans to cut nearly 75% of staff at Twitter, The Washington Post reported Thursday. That would bring Twitter’s staff down from 7,500 employees to around 2,000. Over time, he would hire new people to increase the staff again, however. And even if he doesn’t close, Twitter’s existing management planned to cut the workforce by about a quarter, the Post reported. The company also plans to make cuts to infrastructure like data centers. Musk previously hinted at...
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Twitter announced on Tuesday that it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company, The Associated Press reports. The chair of Twitter's board, Bret Taylor, tweeted that the board has filed a lawsuit in the Delaware Court of Chancery "to hold Elon Musk accountable to his contractual obligations." Twitter's lawsuit opens with a sharply-worded accusation that "Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests." .....
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In a proposed class action filed in Delaware Chancery Court, the Orlando Police Pension Fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support the buyout.
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WORLD—According to sources, an eccentric immigrant entrepreneur from South Africa just accomplished more for free speech than Republicans have in decades of controlling the government, wielding Federal power, and spending trillions of dollars. "Wow! Who is this guy? He's really making us look bad here," said one Republican Senator. "This Twitter deal is such a huge step forward for freedom of expression! Wow! Imagine if other conservative wealthy people did stuff like that instead of funding our reelection campaigns? Um, wait—I didn't mean that. Scratch that. Are you recording this?" Experts concur that Twitter being purchased by a private entity...
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* Twitter’s board accepted billionaire Elon Musk’s offer to buy the social media company and take it private, the company confirmed. * The announcement ends a weeks-long saga Musk kicked off when he offered to buy the company at $54.20 per share, his “best and final.” * Twitter’s board sought to fend off a hostile takeover by adopting a so-called poison pill. In this article TWTR +2.83 (+5.77%) WATCH NOW VIDEO03:05 Board approves Twitter sale to Elon Musk for approx. $44B Twitter’s board has accepted an offer from billionaire Elon Musk to buy the social media company and take it...
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Twitter Inc. is in discussions to sell itself to Elon Musk and could finalize a deal as soon as this week, people familiar with the matter said, a dramatic turn of events just 10 days after the billionaire unveiled his $43 billion bid for the social-media company. The two sides met Sunday to discuss Mr. Musk’s proposal and were making progress, though still had issues to hash out, the people said. There is no guarantee they will reach a deal.
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Sure enough, Elon Musk pulled the trigger, handed Twitter a fat offer of a buyout, and it's been nothing but bonkersville ever since.According to CBS News:Elon Musk is offering to buy Twitter for $43 billion, saying the social media company "needs to be transformed as a private company."The billionaire and founder of electric car maker Tesla, who earlier this month disclosed he owns a 9.2% stake in Twitter, proposed in a regulatory filing on Thursday to buy all of the company's outstanding common stock for $54.20 per share. "I invested in Twitter as I believe in its potential to be...
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Bill Gates' Cascade Investment LLC is taking control of Four Seasons Hotels and Resorts by buying about half of Saudi Arabian Prince Alwaleed bin Talal's stake for $2.21 billion, the hotel operator said on Wednesday. Cascade will acquire half of the billionaire prince's stake in Four Seasons, raising its ownership to 71.3% and valuing the hotel chain at $10 billion on an enterprise basis. Prince Alwaleed, through investment vehicle Kingdom Holding Co (4280.SE), will continue to own the remaining stake, Four Seasons said in a statement.
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