Business
Amazon Ends Hybrid Work Policy, Mandates Office Return Five Days a Week
Amazon has announced that it will end its hybrid work policy, requiring staff to return to the office five days a week starting in January. In a memo to employees, CEO Andy Jassy stated, “We’ve decided that we’re going to return to being in the office the way we were before the onset of Covid,” emphasizing that this move would help staff “invent, collaborate, and be connected enough to each other.”
While Mr. Jassy has been known for his skepticism toward remote work, Amazon previously allowed employees to work from home two days a week. This recent change has sparked tensions within the company, which employs over 1.5 million people globally. Last year, employees at the Seattle headquarters staged a protest against tightening remote work policies, which led to the dismissal of the protest organizer, raising concerns about retaliation.
In his message, Mr. Jassy expressed concern that Amazon’s corporate culture was being diluted by flexible work arrangements, potentially adding too many bureaucratic layers. He introduced a “bureaucracy mailbox” for complaints and requested managers reorganize their teams, which could result in job cuts. The company will end hot-desking in the US but will continue this practice in most European offices.
While Amazon will allow remote work in special circumstances, such as caring for a sick child or handling house emergencies, Mr. Jassy stressed that in-office attendance is expected outside of such situations.
Amazon’s approach contrasts with the UK government’s push for flexible working, which aims to make it a default right from day one as part of an upcoming employment rights bill. Business Secretary Jonathan Reynolds emphasized that flexible working arrangements can benefit businesses by allowing them to recruit from a wider talent pool.
Remote work surged during the pandemic, with many companies recalling staff in 2022, though the return to offices has remained incomplete.
Business
Iceland Demands Supermarket Rivals Stop Selling Prawn Rings
Supermarket chain Iceland has filed a trademark application for its well-known “King Prawn Rings,” urging rival supermarkets to stop selling similar products. Iceland, headquartered in Flintshire, claims it has faced increasing imitation since introducing its prawn rings in 1991.
In a bold open letter shared on social media platform X (formerly Twitter), Iceland called out major competitors Aldi, Tesco, Lidl, and Asda, accusing them of selling “copy crustaceans.” The letter cheekily asserted, “The King Prawn Ring is ours, and we won’t be letting you off the hook.”
Lidl humorously responded, “Here was us thinking it was a classic 1970s party dish.”
Iceland’s letter, signed by “Iceland Foods,” warned other retailers to cease selling prawn rings, especially ahead of Christmas. The chain emphasized its intent to pursue legal action if competitors don’t comply, declaring, “Our lawyers are more than ready to dive into legal waters.”
The prawn ring battle has sparked social media buzz, with consumers eagerly watching how rival supermarkets will respond to Iceland’s trademark claim.
Business
Boeing Workers Reject Latest Pay Offer Despite 30% Rise, Union Says
The union representing striking Boeing workers has stated that its members are not interested in the company’s latest pay proposal, which includes a 30% raise over four years. According to the International Association of Machinists and Aerospace Workers (IAM), a survey revealed overwhelming dissatisfaction with the offer, labeling it as “inadequate.”
This rejection follows Boeing’s new “best and final” offer, which also included a performance bonus reinstatement, improved retirement benefits, and a one-time $6,000 signing bonus. The company set a deadline for the deal to be ratified by union members by midnight on September 27.
However, IAM criticized Boeing for sending the offer directly to workers and the media without consulting union leaders and stated that the time frame was insufficient to organize a proper vote. Boeing has denied the union’s claims and said it would allow more time and provide support to facilitate the vote.
Business
China Unveils Bold Measures to Revive Economy Amid Growth Concerns
China’s central bank, the People’s Bank of China (PBOC), has launched a significant package of measures aimed at revitalizing its struggling economy. PBOC Governor Pan Gongsheng announced plans to lower borrowing costs and allow banks to expand lending to stimulate economic activity.
With recent economic data raising concerns that China may miss its 5% growth target this year, the central bank will cut the reserve requirement ratio (RRR)—the amount of cash banks must hold in reserve—by half a percentage point, releasing around 1 trillion yuan ($142 billion) into the economy. Additional cuts may follow later in the year.
The package also addresses China’s property market crisis by cutting interest rates for existing mortgages and reducing minimum down payments for all homes to 15%.
Asian stock markets responded positively to the news, seeing a boost after Mr. Pan’s announcement, which came during a rare joint press conference with officials from two other financial regulators.
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