[BobNJ1960]

Originally Posted by JayCT

Indeed, the online jobs site, is adding 500 new employees in Stamford. That brings their total Connecticut jobs to 1,700. Great news. Jay

https://www.stamfordadvocate.com/bus...s-13439604.php

That is.

[kidyankee764]

Originally Posted by JayCT

Indeed, the online jobs site, is adding 500 new employees in Stamford. That brings their total Connecticut jobs to 1,700. Great news. Jay

https://www.stamfordadvocate.com/bus...s-13439604.php

I was just coming here to post this. Great news for Stamford. Indeed massively expanded their NYC office, which concerned me that they were going to pull up their roots in CT, but this shows they plan to stay and expand.

[CT_Yank]

Originally Posted by BobNJ1960

Most that move do not change salary structure.

Nissan hq Tn staff are at Nissan hq Ca salary levels, wih lower COL>

The move is about lower labor costs over time. Why else do it? You have to keep daily operations stable. Force employees to move or they quit on their own. Ones that move may hate the South and quit anyway. You replace with cheaper local labor. It is not a 1 year play. They are looking out 10 years or more. I have worked for two banks that did the same. They won't hire much in 'high cost' locations. NYC/NJ/CT fall into that category.

[robr2]

Originally Posted by BobNJ1960

Most that move do not change salary structure.

Nissan hq Tn staff are at Nissan hq Ca salary levels, wih lower COL>

Originally Posted by CT_Yank

The move is about lower labor costs over time. Why else do it? You have to keep daily operations stable. Force employees to move or they quit on their own. Ones that move may hate the South and quit anyway. You replace with cheaper local labor. It is not a 1 year play. They are looking out 10 years or more. I have worked for two banks that did the same. They won't hire much in 'high cost' locations. NYC/NJ/CT fall into that category.

Nissan lost 60% of it's headquarters staff when they moved. It took them years to restaff and at the operational positions, pay local wages instead of CA wages. Salary for tactical and executive positions are pretty much the same across the industry with some adjustment for COL.

[JayCT]

Please return to the topic of the OP which is the economic climate in Connecticut. JayCT, Moderator

[BobNJ1960]

Originally Posted by robr2

Nissan lost 60% of it's headquarters staff when they moved. It took them years to restaff and at the operational positions, pay local wages instead of CA wages. Salary for tactical and executive positions are pretty much the same across the industry with some adjustment for COL.

I know. I lived there. 40% cross country relo rate is typical. I know a Stamford corp which came 3,000 miles-similar relo %.

[BPt111]

Unemployment Fund Running Out of Money


"If the national economy goes on a downward trend over the next year, Connecticut is not likely to have enough money to cover unemployment benefits from those making existing claims, or filing for the first time."

"The warning came from the Connecticut Department of Labor for the incoming Lamont administration, which will take office in January."


https://www.nbcconnecticut.com/news/...-nsErY61LiQiq0

[Brian26]

Originally Posted by BPt111

Unemployment Fund Running Out of Money


"If the national economy goes on a downward trend over the next year, Connecticut is not likely to have enough money to cover unemployment benefits from those making existing claims, or filing for the first time."

"The warning came from the Connecticut Department of Labor for the incoming Lamont administration, which will take office in January."


https://www.nbcconnecticut.com/news/...-nsErY61LiQiq0

My company stopped going to unemployment wage hearings recently. They claim the state awards close to 100% of submitted claims even if people are fired for things such as theft.

This is part of the problem as well.

Unemployment benefits are paid by employers, and those employers argue that many of the people receiving benefits shouldn’t be eligible to begin with, because they have only met the lowest possible threshold of $600 in income for the year, a figure not adjusted since 1968. Other states range from $2,000 to $5,000.

[JayCT]

Originally Posted by Brian26

My company stopped going to unemployment wage hearings recently. They claim the state awards close to 100% of submitted claims even if people are fired for things such as theft.

This is part of the problem as well.

Unemployment benefits are paid by employers, and those employers argue that many of the people receiving benefits shouldn’t be eligible to begin with, because they have only met the lowest possible threshold of $600 in income for the year, a figure not adjusted since 1968. Other states range from $2,000 to $5,000.

Have you questioned your State legislators about this? Jay

[kidyankee764]

Originally Posted by Brian26

My company stopped going to unemployment wage hearings recently. They claim the state awards close to 100% of submitted claims even if people are fired for things such as theft.

This is part of the problem as well.

Unemployment benefits are paid by employers, and those employers argue that many of the people receiving benefits shouldn’t be eligible to begin with, because they have only met the lowest possible threshold of $600 in income for the year, a figure not adjusted since 1968. Other states range from $2,000 to $5,000.

Yep. There have been many times, more than I can count, when people who technically were not eligible for unemployment benefits received them.

I agree the state legislature should be contacted about this.