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Wayfair CEO: Employees Need To Work Longer Hours, After Laying Off 5% Off The Company

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Wayfair’s CEO had a message for the company’s employees at the end of the year: Don’t be afraid of doing more work and balancing work and life.

“Winning necessitates hard work. “I believe that most of us, being ambitious individuals, find fulfillment in the joy of seeing our efforts materialize into tangible results,” CEO Niraj Shah said earlier this month in a statement to employees hailing the company’s recent success, which a company spokeswoman verified to CNN. “Working long hours, being responsive, and balancing work and life is not something to be ashamed of.” There isn’t much precedent for sloth being rewarded with achievement.”

Shah also encouraged Wayfair staff to treat corporate funds as their own and to bargain for lower costs. According to its most recent filing, Wayfair has over 15,000 workers as of December 2022.

wayfair

Wayfair CEO: Employees Need To Work Longer Hours

“Would you spend money on that? Would you spend that much money for that thing? Does that price seem reasonable, and lastly — have you negotiated the price?” he asked Wayfair staff in an email earlier this month. Business Insider acquired the note first.

Early in the epidemic, Wayfair’s sales soared as homebound shoppers ordered furniture, desks, and house products online.

However, the company began to fail in 2022 as people returned to in-person shopping and redirected their buying from physical items to experiences.

Wayfair said in 2022 that it would be laying off 5% of its personnel.

However, Shah told staff that the company is now profitable in an email.

wayfair

Wayfair CEO: Employees Need To Work Longer Hours

“Together, we can win much faster than we are winning now if we all row in this direction together,” he said. “Let’s be aggressive, pragmatic, frugal, agile, customer oriented, and smart.”

In an interview Thursday, Nicholas Bloom, a professor of economics, told CNN’s Richard Quest that “if Wayfair wants to run a business where people work 80 hours a week, he’s going to have to put up their salaries by 50% to pay them for it.”

“I don’t see this as being successful for the typical employee,” Bloom said, stressing that the job market is strong and that employees have options.

A corporate spokeswoman was not immediately available to answer CNN’s pay questions.

wayfair

SOURCE – CNN

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Their Nissan SUV Was Parked In The Driveway. Then It Caught Fire And Exploded

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Nissan | CNN Image

Vicki Hill was awakened early on May 14 by explosions outside her Bethesda, Maryland, house. Later, she discovered that the 2015 Nissan Murano family SUV’s airbags were to blame for the loud bangs. It was on fire.

“I thought someone was trying to get into our house with a sledgehammer and I woke my husband up and I said something’s wrong,” she stated on CNN. “And he ran downstairs and shouted up, ‘Call 911, the car’s on fire!'”

The family gave CNN a video from their home’s doorbell camera, which shows smoke before the fire bursts and engulfs the automobile.

nissan

Nissan | Houston Press Image

Their Nissan SUV Was Parked In The Driveway. Then It Caught Fire And Exploded

The cause of the fire in the Murano is unknown. Nissan is investigating the fire, and the National Highway Traffic Administration is also gathering information.

“The safety and security of our customers is our primary concern,” a Nissan spokeswoman stated in response to an email inquiry about the fire. “We have opened an investigation into this incident.”

Nissan recalled the Hills’ Murano in 2016 and 2019 to address a fault that may cause brake fluid to leak and create a fire even when the vehicle was parked. Owners were instructed to park their vehicles outside and away from buildings until the problem was resolved due to fire hazards.

A search on the NHTSA’s website revealed an outstanding unrepaired recall on the Hills’ Murano. According to the couple, a local fire investigator concluded that the unrepaired recall may have caused the fire. But the Hills recall having the service done and provided CNN with a snapshot of a receipt from a nearby Nissan dealership proving the repair was completed. CNN has not validated the receipt’s authenticity.

The Hills stated that because the recall work had been completed, they did not consider the potential of a fire.

Philip Hill had been working on the garage, so the couple’s two automobiles were parked in the driveway. Otherwise, the Murano would have been parked in the garage beside the home.

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Nissan | DLJ Image

Their Nissan SUV Was Parked In The Driveway. Then It Caught Fire And Exploded

“As you can see from the video, that vehicle is so close to the house,” Philip Hill explained to CNN. “Minutes later, the house could have gone up.”

According to reports, the garage door melted due to the fire. The Hills credit a neighbor’s dog for saving them and their three children. After being alerted by her dog, the neighbor called 911 before the Hills arrived

The powerful flames from the burning Nissan also destroyed the side of the family’s other vehicle, a 2012 Mercedes C-class, rendering it useless.

Initially, the Hills were frightened that they had been victims of vandalism. However, they stated that the video evidence from their Nest doorbell camera clearly showed the truck suddenly combusting.

nissan

Nissan | Houston

Their Nissan SUV Was Parked In The Driveway. Then It Caught Fire And Exploded

According to Hills, Nissan seized possession of the Murano on Wednesday to conduct a more thorough inspection.

Vehicle fires are not uncommon, as shocking as the Hills’ circumstance appears to be. According to the National Fire Protection Association, there will be approximately 188,500 automobile and truck fires in the United States in 2022, an average of more than 500 daily. According to the National Fire Protection Association, vehicle fires killed 610 civilians that year.

SOURCE – (CNN)

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U.S. Stock Markets Closed for Memorial Day on May 27

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U.S. Stock Markets Closed for Memorial Day on May 27

(CTN News) – The U.S. stock market will be closed on Monday, May 27, for Memorial Day.

The Nasdaq and New York Stock Exchange will be closed on Monday and reopened on Tuesday, May 28. According to the Securities Industry and Financial Markets Association, the U.S. bond market will close at 2 p.m. ET on Friday, May 24.

Memorial Day is one of numerous holidays in the United States commemorates and honors the military. Originally known as “Decoration Day,” it was established in the 1860s to honor those who died while serving in the military.

After Memorial Day, Wall Street will resume regular operations until mid-June. The next scheduled stock market closure is on Wednesday, June 19th, in honor of Juneteenth.

United States stock market 2024 holiday schedule

Markets will be closed for the following holidays:

  • Memorial Day: Monday, May 27
  • Juneteenth: Wednesday, June 19
  • Independence Day: Thursday, July 4 (markets also close at 1 p.m. ET on July 3)
  • Labor Day: Monday, Sept. 2
  • Thanksgiving: Thursday, Nov. 28 (markets also close at 1 p.m. ET on Nov. 29)
  • Christmas: Wednesday, Dec. 25

Memorial Day Traditions

Historically, Memorial Day has served as the unofficial start of summer. Thousands of students have the day off from school, and office workers enjoy a long weekend. As well as honoring fallen military heroes, it is a time for gatherings, barbecues, and outdoor activities.

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Boeing’s 1st Astronaut Flight Now Set For June After A Review Of Small Leak On New Capsule

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Boeing | AP News Image

CAPE CANAVERAL, Florida – Boeing is now aiming for its first human launch in early June, having spent the previous two weeks dealing with further issues with the space capsule.

Despite a propulsion system leak, officials from Boeing and NASA have assured that the Starliner spacecraft is equipped to safely transport two test pilots to the International Space Station. The minor helium leak, identified following the initial launch attempt on May 6, was promptly addressed and resolved, demonstrating the commitment to safety.

boeing

Boeing | Medium Image

Boeing’s 1st Astronaut Flight Now Set For June After A Review Of Small Leak On New Capsule

Engineers suspect a faulty rubber seal the size of a shirt button and claim that even if the leak grows, it can be fixed in flight. According to NASA’s commercial crew program manager, Steve Stich, all of the capsule’s other seals checked out, prompting officials to set the launch date for June 1.

This will be Starliner’s third test flight. Demos in 2019 and 2022 had no one on board. Boeing was forced to repeat the empty trip the first time due to software and other issues.

If not for the Atlas V rocket’s faulty valve, which halted the first countdown, Starliner would have launched from Cape Canaveral earlier this month, with the leak discovered in orbit, according to Stich. Officials said that flight controllers would have handled the leak, and the astronauts would have been safe. Helium is utilized to pressurize the fuel lines of the propulsion system, which moves the capsule in flight.

boeing

Boeing | Washington Times Image

Boeing’s 1st Astronaut Flight Now Set For June After A Review Of Small Leak On New Capsule

Engineers now know where the leak is, which, according to Boeing program manager Mark Nappi, will help them improve the system in the future.

“Remember that this is a test flight. “We are still learning,” Nappi told reporters.

According to Stich, the discovery of the Starliner leak revealed yet another issue — “a design vulnerability” in the propulsion system in the improbable scenario of a series of failures. He said that the crew had devised workaround measures to safely remove the capsule from orbit at the end of the trip if such issues emerged.

“We’re not going to fly until we’re sure we’re safe,” NASA Associate Administrator Jim Free stated.

boeing

Boeing | CTV News Image

Boeing’s first astronaut flight is now scheduled for June following a review of a minor leak in the new capsule.

Boeing’s Starliner capsule has already been years late carrying passengers to the International Space Station for NASA. SpaceX has launched crews since 2020. NASA wants both companies to provide taxi service to support each other.

SOURCE – (AP)

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