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Chinese investment bank CICC to demote senior bankers, cut their pay to reduce costs

China International Capital Corp is planning to demote some of its senior bankers and cut their pay, people with knowledge of the matter said, an unusual move that could lead to voluntary departures.

Transcripts for CNN CNN This Morning 20240604 12:18:00

morning, i appreciate it. london this morning, wow. thank you, sir. thanks, don. this morning more than 1,000 members of the new york times union are strike. the guild saying this in part, we are ready to work for as long as it took, but to reach a fair deal but management walked away from the table. we know what we re worth. this after more than a year and a half of stalled contract negotiations with their management. let s bring in sarah fisher. i was reading through their demands here. they re asking for what they deem to be fair wages, health care fund, no company cuts to their retirement benefits, remote work policy, this is probably one of the big stickers and a performance rating system with safeguards against bias they uncovered. there s a lot here unresolved. where does this go? they are going to reach a

Google s parent company Alphabet Inc plans to lay off 10,000 under-performing employees: Best Media Info

Best Media Info: As the layoff streak continues amongst Silicon Valley companies including Amazon, Meta and Twitter, Google’s parent company- Alphabet Inc is implementing a performance management system to determine| Digital News

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