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Tag: workers

American firms reveal the gulf between bosses’ and workers’ pay

American firms reveal the gulf between bosses’ and workers’ pay

Finance
[unable to retrieve full-text content]HOW much should company bosses be paid relative to their employees? It depends who you ask. Plato argued that the richest members of society should earn no more than four times the pay of the poorest. John Pierpont Morgan, a banker from America’s gilded age, reckoned that bosses should earn at most 20 times the pay of their underlings. Investors today hold chief executives in vastly higher esteem. According to new filings submitted to the Securities and Exchange Commission (SEC), America’s largest publicly listed firms (those worth at least $ 1bn) on average paid their chief executives 130 times more than their typical workers in 2017. The figures are being disclosed by firms in their financial filings for the first time this year.The SEC’s new require
1,600 IT workers and engineers denied UK visas

1,600 IT workers and engineers denied UK visas

Science
More than 1,600 IT specialists and engineers offered jobs in the UK were denied visas between December and March, BBC News has learned. They were denied because the number applying exceeded the monthly limit allowed to enter the UK.Critics argue that the immigration policy will hamper the government's efforts to develop a high-tech economy.The government said it was important that employers look to recruit from the UK before looking overseas.The figures were obtained by the Campaign for Science and Engineering (Case).Case's executive director, Dr Sarah Main, said that job offers in areas where there were clear shortages, such as science and engineering, should be exempt from the Home Office cap."The tragedy is that this policy doesn't work for anyone: the...
Workers banned from using USB sticks at IBM

Workers banned from using USB sticks at IBM

Technology
Staff at IBM have been banned from using removable memory devices such as USB sticks, SD cards and flash drives.The possibility of "financial and reputational" damage if staff lost or misused the devices prompted the decision, reported The Register.Instead, IBM staff who need to move data around will be encouraged to do so via an internal network.The decree banning removable storage acknowledges that complying with it could be "disruptive".Losing dataIBM staff were told about the policy in an advisory from Shamla Naidoo, the company's global chief security officer.Some IBM departments had been banned from using removable portable media for some time, said Ms Naidoo, but now the decree was being implemented worldwide. IBM staff ar...
New York gives the green light to retirement plan for workers without one

New York gives the green light to retirement plan for workers without one

Finance
New York has become the latest state to give the nod to a retirement savings program for workers who lack access to one where they work.Endorsed by the state legislature on Saturday via approval of its fiscal 2019 budget, the program would be similar to others cropping up around the country that provide private sector workers with a tax-advantaged retirement account if their employer does not offer one.The budget authorizes the creation of the New York Secure Choice Savings Program. While details are slim — a state board would be charged with working out the specifics — participation would be voluntary for both businesses and workers. Employees who choose to enroll would be able to direct part of their paycheck to a Roth IRA.While contributions to Roth IRAs are not tax-deductible, the asse
Singapore cancels all work passes for North Korean guest workers

Singapore cancels all work passes for North Korean guest workers

World
SEOUL, March 27 (UPI) -- Singapore has canceled all work permits for North Korean workers in its borders, in line with United Nations Security Council resolutions, a recent UN sanctions report shows.In an implementation report submitted last week, the Singaporean government confirmed that there are now "no nationals of North Korea with work passes in Singapore," as permits have been revoked for all North Koreans.The government will not grant new permits, it added.Also, those from North Korea who arrive in Singapore without a visa will be rejected from entry.According to various human rights groups, some 65,000 North Koreans were working in 40 countries across Eastern Europe and Asia by 2015.They were estimated to be earning between $ 200 to $ 500 million per year for the Pyongyang regime.H...