Maersk already cut 6,500 jobs earlier this year, but the firm says worsening prices for shipping by sea require further job cuts. The Entertainer Toy company, which engages Maersk to ship its freight has seen prices fall from $18,000 per container last year to $2,000 today.—bbc.com
Tag: Factor markets
Auto CEOs Make 300 Times What Workers Make. How That Stacks Up
The ratio of automakers’ CEO’s pay to the median autoworker’s pay equals 300. Industries that employ highly skilled and well-compensated workers have relatively low pay ratios. Industries with many low-wage workers have relatively high pay ratios.—wsj.com
Robots are Pouring Drinks in Vegas
Check-in kiosks have replaced people at hotel front desks. Robots serve food and pour drinks. Technology won’t eliminate all jobs, but people need to move to occupations that are more highly skilled. —npr.org
Hollywood’s High-Stakes Strike: Actors and Writers
160,000 actors are joining writers on the picket lines against AMPTP (film and TV companies), effectively shutting down the industry. Leaders of union SAG-AFTRA describe negotiations as combative although the AMPTP offered pay and residual increases, higher caps on pension and health contributions, audition protections, shortened series options, and AI protections.—hollywoodreporter.com