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SoftBank Faces Legal Heat as WeWork’s Creditors Seek Recovery Amid Bankruptcy Fears

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million in January 2024 alone, primarily due to high operating costs and lease obligations. Some of the tenants include companies like Sony Pictures, Palantir, Boeing, Moderna, Current, Roky — all of which have moved into some of the vacated WeWork locations. Since 2016, WeWork has reportedly vacated 8.9 million as of January 2024.

Legal 239
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Remote Work Boom Creates Tax and Legal Risks for Digital Nomads And Their Employers

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It’s encouraging to see that over a third of our respondents set restrictions on length of time employees can work overseas, and with a further third planning to do this in the next 12 months.” For companies, the risks extend beyond employee taxation.

Legal 130
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Companies Are Using This Sneaky Strategy To Avoid Paying Overtime

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Not only are firms regularly using phony job titles to circumvent overtime payments, this practice is more common in companies where the employees have little to no bargaining power. It’s estimated that each fake managerial position saves companies almost 14% in overtime expenses. Department of Labor.

Salary 295
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Twitter Accused Of Legal Violations During Mass Layoffs, Again

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What’s going on: In a move to reduce costs, Elon Musk’s purchase of the social media platform Twitter resulted in the laying off of nearly 3,700 staff members (nearly half of the company’s employees) back in early November. Subsequently, hundreds more chose to resign.

Legal 220
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Massachusetts Challenges Uber and Lyft’s Labor Practices

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workforce. Now, due to the lawsuit, the legal classification of gig workers is undergoing a non-jury trial in Boston. Ride share companies, which have traditionally benefited from the legal status of gig workers, have come under fire in recent months with a slew of court cases in Europe , the U.K., Australia, and in the U.S.

Legal 256
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Twitter Walks Back On Office Space In Wake Of Legal Battles And Remote Work Commitment

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Twitter has been in a state of shock after its planned deal to sell the company to Tesla CEO Elon Musk fell apart. The legal battle is bound to be an expensive one, further supporting its need to reduce overhead costs. Now, the firm is suing Musk to either get him to complete the deal or pay related fees. .

Legal 246
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New “Naughty List” For Businesses Could Upend Hiring, Talent Retention

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The Consumer Financial Protection Bureau (CFPB) has implemented a new rule to create a registry designed to track companies that have repeatedly violated laws. The registry, officially established on Monday, mandates that nonbank financial companies report final agency and court orders related to consumer law violations to the CFPB.

Agencies 197