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As social distancing and stay-at-home orders continue due to the escalating COVID-19 pandemic, Simon Property Group has furloughed about 30 percent of its workforce, or about 1,200 to 1,400 people, according to a report on Tuesday March 31 in CNBC.The biggest mall owner in the U.S. is having to deal with the shuttering of all of its properties due to the coronavirus pandemic spreading across the country and around the world.The furloughs affect employees at Simons Indianapolis headquarters as well as at its malls and outlets nationwide, a source familiar with the situation told CNBC. An unspecified number of workers were permanently laid off as well.The companys CEO David Simon is not taking a paycheck during the pandemic,
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stanley kubek said. In addition, upper management salaries are being slashed
stanley cup uk by up to 30 percent.The companys headquarters houses about 1,000 of its approximately 4,500 employees, 1,500 of which were working part-time, according to Simons latest annual filing, CNBC reported.The retail industry has been hit especially hard by the pandemic. Hundreds of thousands of retail employees have temporarily lost their jobs, from Gap and Macys to Kohls and JCPenney.Neiman Marcus temporarily laid off the majority of its 14,000-member workforce and has been on the bankruptcy radar of many analysts because of its $4.3 billion in debt. Unlike past recessions, this does not seem like companies are trying to figure out how to run their businesses on lighter operations 鈥?or ad Elxp Uber Health Partners With Nimble To Deliver Meds
Snap, the operator of the Snapchat messaging app, has spent $7.7 million to acquire a critical patent for geofilters.A
kubki stanley ccording to a report in TechCrunch, of Snaps $400 million in revenue, $360 million comes from selling geofilters or photo filters based on location that are available for advertisers to purchase. Snap had never owned the patent to geofilters until late last week when it acquired it from Mobli, an Instagram competitor. According to the TechCrunch report, the $7.7 million deal is the highest amount a company paid for a patent from Mobli, based in Israeli. Mobli confirmed the deal in an email obtained by TechCrunch. Sources told TechCrunch that Snap purchased the patent to protect itself from any li
stanley kubek tigation in the future. Mobli had approached Facebook initially about selling the patent, with a source saying Facebook wanted it. Another source said Facebook hadnt been offered the patent and that Mobli wasnt even on the radar screen of local power players in Silicon Valley. Had Facebook gotten its hands on the patent, it would have hurt Snaps ability to get sales from geofilters, destroying its main source of income, noted the report.In recent weeks Snap has been in the news, and not only for launching news products or becoming a publicly traded company. Earlier this month it unsealed a lawsuit from a former employee who contended in a lawsuit in January that Snap inflated its user
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