A reversal of roles takes place at Volkswagen AG, with the selection of its chief financial officer, Hans Dieter Pötsch, as chairman. The appointment dashes the hopes of Pötsch's current boss, Martin Winterkorn, of being chairman himself.
Firm Management
Jessica Alba's The Honest Company grants a 16-week paid maternity leave to its employees
Jessica Alba's The Honest Company will offer paid parental leave starting next year. Mothers would be entitled to 16 weeks maternity leave and fathers could access leave for 8 weeks. Paternity leave also comes with another 8-week extension without pay.
Goldman Sachs shares video ad on Snapchat to recruit millennials
The American investment bank, Goldman Sachs, has placed ads to Snapchat targeting to hire millennials. The bank shared a short video in Snapchat Campus Stories.
UniCredit to slash 7% workforce in cost-cutting drive
UniCredit is examining an option to trim its headcount as part of the cost cutting measures to enhance profitability of the bank. Towards this, the Italy's biggest bank by assets would cut 10,000 jobs or seven percent of the total workforce.
Nintendo named Tatsumi Kimishima as the new president
Nintendo appointed Tatsumi Kimishima as its new president prior to Satoru Iwata's death last July. Beginning September 16, Kimishima will be in charge. After Iwata died two months ago, Nintendo had made an official statement appointing the new representative director and president, Tatsumi Kimishima, Wired reported.
Latest News
Citigroup announced that they are planning to rebuild its equity unit soon. The move is seen as a bold action by the bank considering current economic situation and the "Volcker rule" regulation which limits banks investment in such funds.
Starting October 6, McDonalds will start serving breakfast the whole day on all their US branches. On Tuesday, all restaurant operators have given their votes to make the move.
Two giant public pension funds joined forces to oppose corporate bylaw changes at the Bank of America Corp that would make Brian Moynihan both chief executive and chairman.
Walmart reduces working hours on some of its outlets. Allegedly, the action is intended to compensate for the higher wages it pays employees.
Women are treated as administrative staff by default in the corporate setting. This gender bias is sadly still present in many companies all over the globe. Women are sill asked to make coffee and take down notes, even if this is not part of their job description. This is something that should be remedied.
Twitter disclosed its most recent staff diversity statistics along with its goal to have more colored people and more women employees in 2016.
Mobile-games company Rovio is cutting its global workforce by 39% to focus on a few products that make more money. This is the second time the Angry Birds maker has announced job cuts in less than a year.
Accenture announced that the company is improving their parental benefits for those in the US and Canada as part of their commitment to employees to provide them with the best career opportunities during all stages in their lives.
PureFunds ISE Cyber Security, the first and fastest growing Cyber Security ETF in the world worth $1.2B is managed by a 30-year-old Andrew Chanin all by himself.
