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Amazon workers rather quit than move to “central hub”

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Amazon employees who have been working remotely are choosing to quit rather than adhere to the company’s requirement to relocate to its central hubs.

In a move announced in July, the e-commerce giant instructed certain remote workers to return to offices located in major hubs such as New York City, Seattle, Austin, Texas, or Arlington, Virginia.

Those unwilling to move were given the option to apply for different positions within the company or resign. Employees affected by this directive have until the first half of 2024 to complete their relocation, even if they reside in another state. However, some workers were reportedly given as little as 30 to 60 days to make their decision.

One Amazon employee based in Texas chose to leave the company and secure a different job rather than uproot their life for the move to a central hub. Concerns about future job security and the higher cost of living in major cities were cited as reasons for this decision.

Quitting for family

Three other Amazon employees, located in Colorado, Utah, and California, decided to quit after being instructed to relocate to Seattle. They preferred quitting over disrupting their family lives or incurring the financial burdens of relocation. These employees also noted that the company’s demand seemed unnecessary, as they were already working in-person at local Amazon offices three days a week.

These resignations come amidst a broader trend of tech companies dealing with a slowdown, including layoffs and hiring freezes. Amazon, for instance, has laid off around 27,000 employees since the previous fall, including a wave of 9,000 announced in March, although it still maintains approximately 350,000 corporate employees.

Amazon spokesperson Rob Munoz stated that the relocation requirement affects only a small portion of the company’s workforce, with each team deciding on the hub that best suits their needs. The company is offering benefits to employees who choose to relocate.

Amazon’s recent email warning to employees about office attendance requirements has also caused frustration among workers. Some employees received these messages in error, leading to confusion and resentment.

While some employees are quitting rather than complying with the relocation demand, other major companies, like Meta, have also been pushing their employees to return to the office, raising questions about the future of remote work in the tech industry.

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Fed cuts rates, signals more potentially ahead

Fed lowers rates amid job market concerns, signalling potential further cuts in upcoming meetings

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Fed lowers rates amid job market concerns, signalling potential further cuts in upcoming meetings

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In Short:
– The Federal Reserve cut interest rates by a quarter-point to address job market concerns.
– Officials expect at least two additional rate cuts by year-end amid ongoing economic uncertainties.
The Federal Reserve has reduced interest rates by a quarter-point, addressing concerns about a weakening job market overshadowing inflation worries.
A majority of officials anticipate at least two additional cuts by year-end during the remaining meetings in October and December.Banner

Fed Chair Jerome Powell noted a significant shift in the labour market, highlighting “downside risk” in his statements.

The recent rate cut, supported by 11 of 12 Fed voters, aims to recalibrate an economy facing uncertainties from policy changes and market pressures.

Policy Dynamics

The decision comes amid intense political scrutiny, with President Trump openly criticising Powell’s reluctance to lower rates.

Despite the controversy, Powell asserts that political pressures do not influence Fed operations.

The current benchmark federal-funds rate now sits between 4% and 4.25%, the lowest since 2021, providing some reprieve to consumers and small businesses. Economic forecasts indicate ongoing complexities, including inflation trends and the impact of tariffs on labour dynamics, complicating future policy decisions.


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Fed faces unusual dissent amid leadership uncertainty

Fed’s Powell navigates contentious meeting amid Trump-appointed dissenters as rate cut looms and succession contest heats up

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Fed’s Powell navigates contentious meeting amid Trump-appointed dissenters as rate cut looms and succession contest heats up

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In Short:
– This week’s Federal Reserve meeting faces unusual dissent as Chair Powell approaches his term’s end.
– Analysts predict dissent over expected rate cuts due to political pressures from Trump-appointed officials.
This week’s Federal Reserve meeting is set to be particularly unusual, with Chair Jerome Powell facing significant disagreements over future policy as he approaches the end of his term in May.Tensions began before the meeting when Fed governor Lisa Cook won a court ruling allowing her to attend, despite opposition from President Trump, who is attempting to remove her.

The situation is further complicated by the recent swearing-in of Trump adviser Stephen Miran to the Fed’s board, following a Senate confirmation.

Analysts believe Powell may encounter dissent on an expected quarter-percentage-point rate cut from both Trump-appointed officials and regional Fed presidents concerned about inflation.

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Potential Dissent

Trump has urged significant rate cuts and for the board to challenge Powell’s decisions.

Some analysts predict dissenting votes from Miran and other Trump appointees in favour of larger cuts. Federal Reserve veterans express concerns that political motivations may undermine the institution’s integrity, with indications that greater dissent could become commonplace.


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RBA plans to ban credit card surcharges in Australia

Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards

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Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.

In Short:
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.

The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.Banner

The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.

A final decision by the RBA is anticipated by December 2025.


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