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Labor & Employment

  • New Federal Overtime Rule Announced

    The long-awaited changes to federal overtime rule will be unveiled later today at an event in Columbus, Ohio, headlined by Vice President Joe Biden, Labor Secretary Thomas Perez and Ohio Senator Sherrod Brown (D). The most notable change is a nearly doubling of the current salary threshold from its current $23,360 to $47,476 under which virtually all workers will be eligible for time and a half pay. The dramatic change would make nearly five million currently exempt employees nationwide eligible and will go into effect Dec. 1.

  • Starbucks goes to the bond market—to raise money for sustainability

    Starbucks Corp. has turned to the bond market to fund its sustainable-coffee efforts. The chain issued a $500 million U.S. corporate sustainability bond to fund projtects that will support ethical coffee sourcing. The 10-year, 2.45 percent senior notes, due 2026, will fund programs that ensure coffee is grown and distributed in a way that can be maintained over the long run, such as providing fair pay for workers and protection for wildlife.

  • Women take charge in the retail supply chain

    The retail supply chain is one of the most male-dominated areas of the historically male-dominated retail industry, but a growing number of female executives are shifting the paradigm. During the Women in Supply Chain & Technology luncheon held at the recent Manhattan Associates Momentum 2016 conference in Orlando, Florida, three veteran female retail supply chain practitioners discussed the challenges and rewards of their pioneering careers.

  • Giant Eagle COO announces retirement

    A career that began in 1974 as a Giant Eagle supermarket clerk will end on June 30, 2016 as one of the company’s most instrumental figures in recent decades, president and COO John Lucot, will retire after 42 years of service to the Pittsburgh-area grocer.

  • Help wanted: Francescas seeks CEO

    Francesca’s Holdings is looking for a new CEO after the abrupt departure of former Chairman, President and CEO Michael Barnes and weaker than expected first quarter guidance caused the company’s shares to plummet.

  • Retail association calls new overtime laws a “career killer”

    The nation’s two leading retail associations issued critical statements in response the release of the overtime rule by the U.S. Department of Labor. Under the new regulation, issued by the Labor Department on Wednesday, most salaried workers earning up to $47,476 a year must receive time-and-a-half overtime pay when they work more than 40 hours during a week. The previous cutoff for overtime pay, set back in 2004, was $23,660.

  • Gordmans grabs Bon Ton ops exec

    Veteran Bon-Ton Stores executive Michael Ricart has joined value-priced department store chain Gordman’s Stores as senior vice president of stores.

  • Tiffany on hunt for new CFO

    The chief financial officer of Tiffany & Co. is stepping down. The high-end jeweler disclosed in a regulatary filing that CFO Ralph Nicolette is resigning, effective May 20, 2016. Nicolette, who was appointed to the position In April 2014, is leaving to become CFO of consumer products company Newell Brands Inc. (Newell was formerly known as Newell Rubbermaid.) Prior to Tiffany, Nicolette was CFO of Cigna Corp., and Alberto Culver.
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