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RACINE, Wisconsin -- Manufacturer SC Johnson announced Wednesday that between 300 and 400 positions in the company would be eliminated due to an organizational change.The change was first announced to employees back in January, according to a statement from the company. Some of the eliminated roles were already open and will not be filled, while others will result in employees losing their jobs."Many affected employees" were notified Wednesday, the statement says."The company is healthy and our brands continue to be leaders in their categories," said Kelly M. Semrau, Senior Vice President – Global Corporate Affairs, Communication & Sustainability. "Other leading consumer packaged goods companies are doing the same as we all continue to respond to trends in the marketplace. Like them, we are doing this to maintain the company's health and leadership."Headquartered in Racine, Wisconsin, SC Johnson employs about 12,000 people worldwide. It was founded more than 100 years ago in 1886.The company "intends to provide generous severance and outplacement help" to affected employees. There's no word yet on how many Wisconsin employees will lose their jobs. 1197

President-elect Joe Biden is slated to deliver remarks in defense of the Affordable Care Act (ACA) on Tuesday — the same day the Supreme Court is slated to hear arguments in a case that could effectively strike down the law.Biden, who was serving as Vice President in the Obama Administration when the landmark legislation passed in 2010, has promised to build upon and improve the public health care system set up by the ACA.Biden faces an uphill battle in enacting legislation on the Senate, where Democrats must win two runoff races in Georgia in January in order to control the chamber.But because Republicans rushed to confirm Justice Amy Coney Barrett to the high court prior to the election, conservatives now hold a 6-3 advantage — and there's a chance the ACA may not even survive long enough for Biden to make changes to the law.The case, brought by several conservative states and the Trump administration, asserts that one of the law's most controversial items — the individual mandate — is unconstitutional.The individual mandate required all Americans to be covered by insurance or pay a penalty tax. In 2019, Trump signed a law that removed the individual mandate, allowing conservative states like Texas, to set the penalty rate to President Donald Trump announced today he wants a tax bill to pass by Thanksgiving and be signed by Christmas.The President, speaking at the White House today, also said it will be the biggest tax reform event in history and the bill will benefit the middle class and businesses. He says Democrats may support the proposed bill.The not-yet-released bill has already attracted ire from one powerful outside group. And House Ways and Means Chairman Kevin Brady announced Saturday he'd already made one concession to assuage concerns?from northeast Republicans, a sign of the major legislative undertaking Republicans are about to embark on. 661. Those states now argue that because the individual mandate is not raising revenue, it makes the law unconstitutional.The Supreme Court is expected to issue a ruling on the case early in early summer.Biden's remarks on Tuesday come a day after he met with his newly-appointed COVID-19 advisory board — a group that will provide guidance to Biden's transition team about the pandemic. During his address on Monday, Biden stressed that the U.S. will face "a very dark winter," but added there are steps everyone can take to slow the spread of the virus."I implore you, wear a mask. A mask is not a political statement," Biden said.Biden's remarks about the Affordable Care Act are scheduled to take place at 2 p.m. ET. 1975

President Donald Trump will welcome the United States' Winter Olympics teams to the White House Friday, but the list of potential absentees reads like a who's who list of America's most well-known athletes.Lindsey Vonn, Gus Kenworthy and Adam Rippon are among the stars set to be absent, some citing political differences with the president.Freestyle skier Kenworthy, a vocal Trump critic, tweeted "the resistance is real" in reference to the expected White House no-shows."All US Olympians and Paralympians are invited to visit the White House and meet the President after the Games," tweeted the American, whose kiss with boyfriend Matthew Wilkas in Pyeongchang, South Korea became worldwide news after it was broadcast live on national television."Today is this year's visit and USOC [US Olympic Committee] spokesperson says he's never seen so many athletes turn down their invites. The resistance is real."The US Olympic Committee has yet to respond to CNN's request for a comment on the numbers of predicted absentees. 1031

President Donald Trump says he has asked the SEC to study whether to stop requiring companies to report quarterly earnings.In speaking to business leaders, one told him a twice-a-year reporting system would allow companies the flexibility and cost savings companies need to "Make business (jobs) even better in the U.S." Trump tweeted Friday morning. Trump said he directed the SEC to look into a change in its requirements.Public companies must report their sales, profits and the state of the company's balance sheet every quarter. That has been required since the Securities Exchange Act of 1934, which was put in place to give more confidence and transparency to investors in the wake of the 1929 stock market crash. That act also created the SEC, which sets the regulations which govern those quarterly reports.Businesses have long complained that the reports require company executives to focus too much on the short term. Juicing numbers impresses investors, but it can force companies to miss out on long term trends. One of the reasons Tesla CEO Elon Musk wants to take his company private, he told his employees last week, was the way quarterly reports distort decisions at the company.President Barack Obama has also criticized quarterly reports.Speaking to the New York Review of Books in 2015, Obama said that he had talked to a large number of businesses executives who told him, "Because they've got quarterly reports to shareholders and if they've made a long-term investment that may pay off way down the line, or if they're paying their employees more now because they think it's going to help them retain high-quality employees, a lot of times they feel like they're going to get punished in the stock market. And so they don't do it, because the definition of being a successful business is narrowed to what your quarterly earnings reports are."Shareholders, however, use the quarterly earnings reports as a guide to the quality and health of their investments. Without quarterly financial reports, investors could be blind to important risk factors that could damage their portfolios.The president has run privately-held companies that didn't have to report results at all during most of his time in business,The European Commission, among others, only requires semi-annual financial reports of companies there, although major European companies whose stock is traded in both the United States and Europe will report on a quarterly basis in order to comply with SEC regulations.The-CNN-Wire 2519

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