BLS DAILY REPORT, THURSDAY, MARCH 23, 2000
RELEASED TODAY: In the fourth quarter of 1999, there were 1,571 mass layoff
actions by employers that resulted in the separation of 310,954 workers from
their jobs for more than 30 days. Both the number of layoff events and the
number of separations were sharply lower than in October-December 1998. For
all of 1999, the total of extended mass layoff events, at 5,624, and the
total number of worker separations, at 1,126,278, declined to pre-1998
levels. ...
Data compiled by the Bureau of National Affairs in the first 12 weeks of
2000 show a weighted average first-year wage increase of 3.5 percent in
newly negotiated contracts, compared with 2.2 percent in the same period in
1999. When construction contracts were excluded, the all-settlements
weighted average gain was 3.7 percent, compared with 2.2 percent last year.
Manufacturing contracts provided a weighted average increase of 3.3 percent,
compared with 2.8 percent in 1999. Excluding construction contracts, the
nonmanufacturing industry-weighted average increase was 4.1 percent,
compared with 2.2 percent a year earlier. ... (Daily Labor Report, page
D-1).
To an increasing extent, pay experts say, executives at start-ups are
receiving not only potentially enormous option packages, but large salaries
as well. The average vice president for sales at a start-up now makes
$165,000 a year in salary and bonus, according to a survey covering 800
American companies that have received venture capital but have not yet gone
public. The average chief operating officer earns $190,000, and the
typical chief executive brings home more than $200,000. The survey,
published by Venture-One, a San Francisco research company, is the first
extensive study of executive pay at private, venture-backed companies, pay
experts say. The study also found that chief executives in the Washington
area typically make 10 percent more than those in California and the
Northeast and that employee turnover is higher California than in the
eastern part of the country. The survey reflects the raises of the last 2
years, as start-ups have grown frantic over attracting managers at all
levels who can help them survive the increasingly competitive Internet
economy. ... (New York Times, page C1).
DUE OUT TOMORROW: Mass Layoffs in January 2000
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