New York City now requires salary ranges to be included on job postings
 | FRI, NOV 18, 2022 | | | |
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| | | TECH, TRANSFORMATION AND THE FUTURE OF WORK | | | |
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Welcome to the CNBC @Work newsletter, brought to you by CNBC Events. Think a friend, colleague or business partner should receive this newsletter? Subscribe here. Earlier this month, a new pay transparency law took effect in New York City requiring companies to include a salary range on all job listings. One of the main goals of this law is to close the racial and gender wage gaps: women earn 82 cents for every dollar earned by a man and the gap typically widens for women of color. Although there are a lot of positives to the new law, putting it into practice has not been a seamless process. The law states businesses must post a "good faith salary range" and some are taking advantage of the vague language. In response, some companies posted excessively broad ranges spanning more than $100,000. Citigroup had several jobs posted with a range of $0 to $2 million, which they later claimed was a computer error and later adjusted the listings. Despite some of the implementation challenges, similar pay transparency laws are gathering steam with California enacting legislation in 2023 and companies with New York offices such as, Macy's and Google, have started to post salary ranges for job postings across the country. For more on the world of work, check out our Key Stories roundup below. Until next time, stay safe, stay healthy and stay in touch. |
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| Tens of thousands of tech workers have been laid off within days, as tech giants including Meta, Twitter, Salesforce and others shed headcount going into the final stretch of the year. At least 20,300 U.S. tech workers were let go from their jobs in November, and more than 100,000 since the beginning of the year, according to Layoffs.fyi, which tracks layoffs in the field. |
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| Stress at work is unavoidable, and can sometimes feel debilitating — even getting out of bed to commute or face another long shift suddenly becomes a seemingly impossible feat if you feel anxious and frazzled. While too much stress can cause serious health issues like heart disease and diabetes, a moderate amount of the right kind of stress can actually help you be happier and more productive at work, according to new research. |
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| Layoffs at tech giants Twitter and Meta this week have affected thousands — and they're just the latest examples in a downsizing trend that was already taking place across the industry. The news has put a spotlight on what rights employees have in mass layoff situations. While the laws around workforce reductions vary by location and employer size, there are steps anyone can take to help cope with being let go. |
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