HelloFresh to add 750 jobs in Georgia
The meal delivery kit provider HelloFresh plans to hire 750 workers for a distribution facility near Newnan, Georgia.
The German company will renovate an existing 209,000 square-foot facility located near a PetSmart distribution center. HelloFresh will hire workers to handle meal distribution and assembly responsibilities, and management positions.
HelloFresh is one of several players in the business of home delivery of boxes that contain ingredients and instructions for making meals. Rival Home Chef opened a packaging and distribution center in Lithonia in 2017.
The company will begin shipping from the Newnan location before year's end, according to an emailed statement from Uwe Voss, CEO of HelloFresh's U.S. operations. HelloFresh and state officials declined to disclose the value of the company's investment in the project.
"Their capital investment will strengthen our local economy and the addition of good jobs will create economic opportunity for our residents and neighboring communities," Trae Westmoreland, president of the Coweta County Development Authority.
Energy cost increase raises producer prices
Wholesale prices shot up an unexpected 0.6% in July, biggest gain since October 2018, with energy prices moving sharply higher.
The Labor Department said Tuesday that the jump last month in its producer price index — which measures inflation before it reaches consumers — followed a 0.2% drop in June. Wholesale energy prices shot up 5.3% in July. Excluding the volatile food and energy prices, producer prices rose 0.5%.
Over the past year, producer prices are down 0.4%, and core prices are up 0.3%. The sharp recession caused by the coronavirus outbreak has constrained inflation.
New York firms pledge to hire more minorities
A coalition of 27 major companies including Mastercard, Goldman Sachs and Verizon has pledged to hire 100,000 low-income and Black, Latino and Asian workers in New York City over the next 10 years, part of a broader push by corporate America to expand economic opportunities to marginalized communities.
The companies are funding the creation of a nonprofit organization, the New York Jobs CEO Council, which they say will work with universities, the city government and other nonprofit groups to prepare a new generation of New Yorkers for high-paying jobs at some of the country's biggest companies.
The initiative has attracted the support of many of the most powerful chief executives in the country, including Jeff Bezos of Amazon, Laurence D. Fink of BlackRock, Satya Nadella of Microsoft and Sundar Pichai of Google.
"We started with the CEOs for a very specific reason," said Gail O. Mellow, who will run the new council and most recently served as president of LaGuardia Community College. "We wanted that buy in."
WarnerMedia to cut 600 jobs in film unit
WarnerMedia began slashing its workforce Monday, laying off at least 600 employees as movie theater shutdowns and streaming competition ravage its film and TV business.
The bulk of the job cuts came from the legendary Warner Bros. studio in Burbank, known for "Wonder Woman," "The Big Bang Theory" and the Harry Potter movie franchise. High-level studio executives ousted were Ron Sanders, Warner Bros. motion picture distribution chief; Jeffrey Schlesinger, worldwide television distribution chief; and Kim Williams, the studio's chief financial officer.
The purge comes amid a period of turmoil for the media company, which was acquired by telecommunications giant AT&T two years ago. The reorganization is the second management shakeup since the Dallas firm took control. Since then, COVID-19 stay-at-home orders have upended the movie business, and major studio releases, including Christopher Nolan's highly anticipated sci fi thriller "Tenet," have been delayed. Analysts say U.S. box office receipts this year could be down as much as 70% compared with last year.
Boeing sales stall as air traffic drops
Boeing sold no airline planes and customers canceled orders for 43 of its 737 Max jet last month as the aircraft maker continued to struggle with both the pandemic and the ongoing grounding of the Max after two deadly crashes.
Still, the cancellations reported Tuesday were down from 60 the month before. Boeing shares gained 3% in midday trading.
Between cancellations and orders that Boeing no longer considers certain — often because of the buyer's fragile financial position — Boeing has lost more than 800 net orders so far this year.
The coronavirus pandemic has devastated air travel, leaving airlines with more planes than they need. On top of that, Boeing is still working to get approval from regulators in the United States and other countries to resume shipments of the 737 Max.