Latest news with #relocation
Entrepreneur
3 hours ago
- Business
- Entrepreneur
Amazon Tells Employees to Relocate to Main Hubs or Resign
Amazon says the move to bring teams together will make them more "effective." Amazon is giving some employees a choice: relocate or resign. Bloomberg reports that Amazon is ordering thousands of workers on several U.S. teams to move to main hubs in Seattle, Washington, Arlington, Virginia, and Washington, D.C. Amazon has 1.56 million full-time and part-time employees spread across its global business, including 350,000 corporate workers. The effort to get some employees to relocate has been taking place "for more than a year now," as "some teams have been working to bring their teammates closer together to help them be as effective as possible," an Amazon spokesperson told Bloomberg. Related: 'Not a Cost Play': Amazon CEO Clarifies Why Employees Have to Come Back to the Office One Amazon employee shared in the company's internal messaging platform, in messages viewed by Bloomberg, that their manager gave them 30 days to decide whether to relocate or resign. They had 60 days after that to begin the relocation process or to leave the company — and if they chose the latter, they would not receive severance pay. Amazon CEO Andy Jassy. Photo by Michael M. Santiago/Getty Images The mandate means that some workers will have to move across the country. Instead of rolling out the requirement through mass emails, Amazon is informing employees that they must relocate through one-on-one meetings and town halls. Amazon workers already face uncertainty about their jobs being replaced in the next few years by AI. Amazon CEO Andy Jassy sent a memo to staff earlier this week that he expects Amazon's workforce to decrease "in the next few years" as AI automates tasks, prompting concerns from employees about possible layoffs in the coming years. Amazon is currently using AI in its warehouses to improve delivery speed and has given its customer service chatbot AI capabilities. Related: Amazon Cloud CEO Predicts a Future Where Most Software Engineers Don't Code — and AI Does It Instead Amazon is spending heavily on AI, and plans to keep investing in the technology. In a quarterly earnings call in February, the company disclosed that it plans to spend about $105 billion in capital expenditure this year, with most spending going towards AI. Earlier this year, Amazon began requiring employees to work in the office five days a week, leading some to look for other jobs with remote work options. Amazon has laid off more than 27,000 employees since 2022 to cut costs.
Daily Mail
12 hours ago
- Business
- Daily Mail
Millionaire Lowes heir and husband set to move into opulent villa near Monaco after deciding to pack up their life in Australia to give their children a 'European lifestyle'
After recently offloading his Sydney mansion for a whopping $23.5 million, Lowes clothing retail heir Joshua Penn is headed to France with his family. Joshua, 37, is planning to relocate to the French Riviera in 2026 with husband Ben Palmer and children Brooklyn, seven, and Blake, four. The couple have snapped up the stunning Villa Marisol on the sunny, coastal slopes of the Cap d' Ail. With pristine beaches and the town centre in walking distance, the luxurious pad is also located just minutes away from Monaco - the playground of the über-rich. The stunning villa was built in 1908 for the feminist writer Gabrielle Reval, co-founder of French literary prize the Prix Femina. From A-list scandals and red carpet mishaps to exclusive pictures and viral moments, subscribe to the DailyMail's new showbiz newsletter to stay in the loop. The villa also has long history, hosting the likes of French aristocrat, Marie de Rabutin-Chantal, and American born French actress and singer, Josephine Baker. Described as one of the property gems of the Cap d' Ail, Villa Marisol is surrounded by 1,000 square metres of landscaped grounds that lead to the main entrance porch. The entrance level is opulence personified, boasting the original mosaic hallway. The magnificent columned hallway on the garden level leads to the two grand master bedrooms opening onto a small private garden. Speaking to The Daily Telegraph, the couple described their new digs as a 'palace' adding that they were keen to relocate to expose their children to the 'European lifestyle'. It comes as Joshua recently sold his Sydney mansion for a whopping $23 million. The sprawling four-bedroom, five-bathroom property, located at Point Piper, was originally snapped up by Josh's mother and father - Linda and David Penn - in 2021 for a cool $16 million. Joshua who co-owns the home with Ben, first listed the 1905 era home for $28 million. The couple and their children have been living at the exclusive address for three years while renovating another property in nearby Double Bay, The Wentworth Courier reported on Wednesday. According to property records, the retail heir's parents have maintained a 70 per cent stake in the mansion, which is known as the 'Capri'. Still, Josh and Ben are listed as 'owners' of the land title on the beautiful two-storey sandstone and brick home. According to the publication, the couple snapped up a four-bedroom, two-bathroom 'Spanish influenced' home in Double Bay for $6.7 million in 2020 which they extensively rebuilt. Josh and his mother Linda were recently seen at the Gold Dinner charity event. The Lowes Menswear CEO, who, alongside her brother and Lowes co-owner Jeffrey Mueller is worth a cool $400 million, held court at the glamorous do earlier this month. Linda heads the Gold Dinner Committee alongside her son Joshua, and rules the charity event with an iron fist. Every year an influential mix of business and philanthropic leaders attend, and the gala was once also littered with A-listers before Josh and his mother banned them from the event. In the past, celebrities like Chris Hemsworth, Roxy Jacenko, Ian Thorpe, Hamish Blake and Karl Stefanovic made appearances on the red carpet. Gold Dinner co-chair Joshua revealed ahead of the 2024 gala that the event will shun celebrities going forward, as they 'don't seem to add much value'. He said that the attention is usually too much on the celebrities, rather than on the purpose of the event. The invitation-only gala is held annually at a secret location in Sydney and is given a unique theme every year.
Yahoo
a day ago
- Business
- Yahoo
Amazon Forces Remote Staff To Relocate
Amazon (NASDAQ:AMZN) is forcing thousands of corporate staff to relocate closer to their teamsoften across the countrywith tight deadlines or risk losing their jobs. Bloomberg reports that teams are being told in one-on-ones and town halls to move to hubs like Seattle, Arlington, VA, or Washington, DC. Employees have 30 days to decide and 60 days to either start the move or resign, without severance. Warning! GuruFocus has detected 2 Warning Sign with AMZN. Amazon says this hub strategy has been rolling out for over a year to boost collaboration, but many roles hired as fully remote during the pandemic are now on the chopping block. This comes after CEO Andy Jassy ended remote-first policies and amid broader cost cuts and warnings that AI will shrink headcount. After years of remote-work flexibility, this hard pivot tests Amazon's ability to retain top talent and maintain morale. Tight relocation windows and no-severance clauses could spur resignations, complicating hiring in a competitive tech labor market already jittery about layoffs. Watch for turnover spikes in affected teams and whether Amazon adjusts deadlines or support packages. How smoothly this transition goes will shape the company's post-pandemic workplace modeland signal how far tech giants will go to centralize their workforce. This article first appeared on GuruFocus.
Yahoo
a day ago
- Business
- Yahoo
When to finance a cross-country move with a personal loan
Using a personal loan to finance a move can be a helpful solution — if you can score a low interest rate and have a plan for repayment. Before you borrow, consider alternatives, such as negotiating relocation assistance with your employer, saving and paying in cash or using a credit card. If you proceed, find the best lender for your situation by comparing banks, credit unions and online companies across the criteria that matter most to you. Personal loans can be used for almost any legal purpose, so yes, you can get a loan to help with a move. In fact, about one in 10 personal loans are borrowed for this very purpose, according to a survey by credit builder company Self. But before you worry about how to finance a move, make sure it's a smart decision for your situation. If you've already considered alternatives, strengthened your credit and mapped out your potential repayment, you might decide to proceed. But if you can't secure an affordable loan to move, think again. Knowing how to pay for moving costs is great. But before you settle on a personal loan, confirm that you're set up for success. A personal loan can be a good option if you can say 'yes' to these three conditions: Personal loans are flexible and relatively accessible, but they can be costly. Consider that average personal loan rates — a direct indicator of the loan's cost — have trended upward since March 2022 and remained elevated during the second quarter of 2025. Review these potentially more economical options before choosing a personal loan to move: Scenario Solution What to know Your move isn't in the immediate future Optimize your budget and save You might temporarily trim 'wants' from your list of recurring expenses, request a raise at work or sell items that you won't need. Paying for your move in cash (without raiding your emergency savings) might be the best way to go. You're moving for a job Negotiate employer financial assistance Be mindful that relocation aid can be treated as taxable income. 'I negotiated with [a new employer] to give me $4,000 for a move from D.C. to Atlanta,' says Bankrate lead credit card writer Benét Wilson. 'What I didn't know was that [it] was taxable, so the check was half of what I expected, so I had to scramble and use more of my own money than I wanted… Lesson learned!' You have supportive family and friends Borrow money from a loved one and create a foolproof repayment plan Borrowing from people you know can be safer than borrowing from a bank, but it puts your personal relationship in jeopardy. Before borrowing, be sure you're on the same page about repayment expectations — and stick to it! You have a strong cash flow and good credit Consider a credit card with a 0% introductory APR and commit to paying off the balance before the promotional period ends This worked well for Bankrate editor Aylea Wilkins, who borrowed $3,200 to U-Haul her stuff from Arizona to Arkansas in the summer of 2024. 'We got an email offer from our bank with a $5,000 limit and 18-month promotional period — we knew we'd be able to pay off the full move within that time,' says Wilkins. 'We didn't want to have the debt hanging over us… so the promotional period worked better for us than a personal loan we'd have to pay monthly for a few years.' If you're seeking a personal loan with excellent credit, you're in a position of strength. The friendliest interest rates and terms go to borrowers with the highest credit scores and lowest debt-to-income ratios, among other criteria. Don't worry if you don't have tip-top credit. You might still be quoted a competitive interest rate if you have a good credit score (or a creditworthy cosigner or co-borrower). If you're moving soon and have other financial obligations, you might be worried about your relocation budget. With consistent and significant income, however, using a loan to move could be the right choice. Your reliable earnings could help you qualify for low personal loan rates, and they'll also equip you for repayment. Just make sure to stress-test your budget before you borrow. Confirm that your potential monthly payment would fit neatly after accounting for your next home's cost of living. Borrowing a loan to move means repaying it long after you're settled into your new home, with potentially significant interest charges. More importantly, struggling with repayment can cause serious damage to your credit. So, if you relate to any of the following scenarios, borrowing may not be best for your situation. If you landed on the idea of a personal loan because you were quoted sky-high prices from white-glove moving companies, reconsider how you plan to move. Perhaps a do-it-yourself solution (like those below) would lessen or eliminate your need for a loan: Rent a truck or van (think U-Haul) and drive your stuff where it needs to go. You could also use a platform like TaskRabbit to hire some extra muscle for the loading and unloading. If a long-distance drive isn't feasible, research companies like PODS and U-Pack that drop a moving container at your current home and deliver it to your next one. Save up boxes and other shipping materials (perhaps from your recent online purchases) so that you can pack your belongings yourself. You could also visit big-box stores or warehouses and ask to pick through their flattened cardboard. Facebook Marketplace and other online classified platforms can also be a source of used (but still usable) boxes. Packing your own things might also remind you to leave unnecessary items behind, perhaps even sell them (garage sale, anyone?) to help pay for your move. Bankrate tip If hiring a mover is still your top choice, remember to negotiate their quoted costs and, if possible, schedule your relocation during a non-peak season. Also, to avoid poor service, ask whether the mover subcontracts any step of the process to other companies. Personal loans are more accessible than some forms of borrowing, so you might not need excellent or even good credit to qualify. But without good credit, you'll face higher interest rates, fewer repayment term options and greater overall risk to your finances. Consider these examples: If you have a fair credit score and apply with a cosigner or co-borrower, you might gain lender approval. But keep in mind that struggling with repayment wouldn't only harm your credit, but also that of your co-applicant. You might consider secured personal loans as a way to finance a move, since they hinge more on your collateral than your credit. But you'll forfeit that collateral if you fall behind on payments. If you decide to borrow a personal loan with bad credit, don't forget to shop around with federal credit unions that, unlike other financial institutions, cap their rates at 18 percent. Still, be mindful of how much more you could be paying than peers who can score a decreased APR. It can help to crunch the numbers using a personal loan payment calculator. Here's how interest charges impact the cost of a $6,000, three-year loan: Loan 1 Loan 2 Loan 3 Interest rate 12% 18% 35.99% Monthly payment $199 $217 $275 Cost of interest $1,174 $1,809 $3,892 Total cost of repayment $7,174 $7,809 $9,892 The best personal loan interest rates are reserved for applicants with strong credit, a low amount of debt and a stable income. So, finding the most cost-effective loan for your situation starts with monitoring and improving your credit (or considering a cosigner or secured loan). Then, research banks, credit unions and online lenders to compare personal loans. You might prioritize financial institutions that offer prequalification, or the ability to confirm your eligibility and check rates without undergoing a hard credit check. You could also narrow your list of preferred lenders to those that charge fewer fees, fund loans faster or offer the most flexible repayment terms. We get it: moving is expensive. It can range from $882 to $2,567, or, for a longer-distance move, $2,391 to $6,869, according to HomeAdvisor. But before you borrow a personal loan to foot the bill, exhaust your lower-risk options. If borrowing remains your best bet, confirm that you have the financial stability for successful repayment. Otherwise, the long-term costs may far outstrip the short-term convenience. 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CTV News
2 days ago
- CTV News
People living in Fredericton motel forced to find new homes
Atlantic Watch More than two dozen people living in a Fredericton motel are being forced to relocate.
