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NEW YORK (AP) — Professional networking company LinkedIn is laying off nearly 1,000 employees, or approximately 6% of its global workforce, as a slowdown in hiring amid the coronavirus pandemic pressures its business. In a note to employees, CEO Ryan Roslansky said that the positions that will be eliminated are in its global sales and hiring offices. Roslansky said it's the only layoffs LinkedIn is planning. "To continue adapting and accelerating the company as we have been, we need to ensure we are focusing our efforts and resources against our most strategic priorities to set up the company for success today—and well into the future," Roslansky said in the letter. "When we took a hard look at the business, we decided we needed to make some hard calls."Roslansky said 960 roles across their Global Sales and Talent Acquisition organizations would be eliminated.Impacted U.S. employees will receive at least 10 weeks of severance pay and a year of continuing health coverage through COBRA. LinkedIn will also provide immigration support, career transition assistance, and the option to keep company cell phones, laptops, and other recently purchased equipment for departing employees to be able to work from home.Those being laid off will continue in their roles through Aug. 21.LinkedIn is owned by Microsoft. 1328
New York City Mayor Bill de Blasio has told top brass at the city's police department to stop arresting people who are caught smoking marijuana in public, according to a City Hall aide.Currently, smoking in public can lead to arrest, while possession of small amounts of marijuana can lead to a summons.This weekend, the mayor told the NYPD to issue summonses for smoking pot in public, instead of making arrests.The NYPD has already begun a working group to evaluate its marijuana enforcement procedures and present its recommendations within 30 days, at the mayor's request. The mayor made it clear this weekend that ending public marijuana smoking arrests is one of the changes he wants.Any changes to NYPD's policy on smoking in public would not take effect until the end of the summer.NYPD Deputy Commissioner of Public Information Phil Walzak told CNN that the 30-day working group is already underway, and that the issue is "certainly part of that review.""The working group is reviewing possession and public smoking of marijuana to ensure enforcement is consistent with the values of fairness and trust, while also promoting public safety and addressing community concerns," Walzak said. 1204
NEW YORK (AP) — The storied New York clothier Brooks Brothers is filing for bankruptcy protection.The company that says it’s put 40 U.S. presidents in its suits survived two world wars and navigated through casual Fridays and a loosening of dress standards even on Wall Street, but the coronavirus pandemic pushed the 200-year-old company into seek Chapter 11 protection Wednesday.A spokesperson for the retailer told CNBC that the company has been evaluating strategic options to position them for success, including a potential sale of the business.Another famed men’s clothier, Barneys of New York, sought bankruptcy protection last year, and it was followed by a slew of others toppled by the pandemic, including Neiman Marcus, J.Crew and J.C. Penney.More bankruptcies are anticipated in the retail sector which has been rattled by the spread of COVID-19. 867
NEW YORK (AP) — NASA announced Friday that it will open the International Space Station to private astronauts, with the first visit as early as next year.The round-trip ticket will cost an estimated million. And accommodations aboard the orbiting outpost will run about ,000 per night, for trips of up to 30 days long.The space agency says only two visitors per year will be allowed, for now. Private astronauts will have to meet the same medical standards and training and certification procedures as regular crew members. 538
NEW YORK (AP) — New York’s Democratic attorney general asked a court to enforce subpoenas into an investigation into whether President Donald Trump and his businesses inflated assets on financial statements.Attorney General Letitia James filed a petition Monday in state trial court in New York City naming the Trump Organization, an umbrella group for the Republican president’s holdings. It also included other business entities.The filing also named Eric Trump and Seven Springs, a New York estate owned by the Trump family.“I took action to force the Trump Organization, and specifically EVP Eric Trump, to comply with my office’s ongoing investigation into its financial dealings,” wrote James on Twitter on Monday. “For months, the Trump Organization has failed to fully comply with our subpoenas in this investigation.”The attorney general’s office is investigating whether the Trump Organization and the president improperly inflated the value of assets to secure loans and obtain economic and tax benefits.James says their investigation began after Michael Cohen, the president’s former lawyer, testified before Congress that Trump’s annual financial statements inflated the values of his assets to obtain favorable terms for loans and insurance coverage, while also deflating the value of other assets to reduce real estate taxes.“We are seeking thousands of documents and testimony from multiple witnesses regarding several Trump Organization properties and transactions, including from Eric Trump, who was intimately involved in one or more transactions under review,” wrote James. 1601
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