An employee at investment giant TIAA has contracted coronavirus, and the Manhattan WeWork office where they were working has been closed for cleaning
An employee at financial giant TIAA has contracted coronavirus, Business Insider has learned. The worker in New York was quarantined and classified as low-risk. They tested positive for the virus days after their quarantine began. The employee worked in TIAA's WeWork space at 575 Lexington Avenue in Midtown Manhattan, TIAA's temporary home while nearby headquarters are renovated. The WeWork in Midtown Manhattan where the employee was working has been closed. In a memo to its employees on Friday, TIAA said it expects to reopen the office on Thursday after a deep cleaning. All employees at the WeWork location are barred from the building and must leave their personal belongings at home. Even WeWork employees are self-quarantining for 14 days. Visit Business Insider's homepage for more stories.
A worker at TIAA, the investment firm that oversees $1.1 trillion, has contracted coronavirus, according to a memo seen by Business Insider. The employee worked in TIAA's WeWork space at 575 Lexington Avenue in Midtown Manhattan, TIAA's temporary home while nearby headquarters are renovated. WeWork has five floors at the building, according to its website, and houses other customers there besides TIAA. That location is now closed and employees' keycards have been disabled, per a WeWork email to tenants at the building, including TIAA, reviewed by Business Insider. In a separate memo to its employees on Friday, TIAA said it expects to reopen the office on Thursday after a deep cleaning. Employees from the 575 Lexington location are required to work from home until then. "We continue to be in close touch with this particular [coronavirus-stricken] associate and the associates who were in close proximity, and we're offering them the company's full support," the memo said. A WeWork representative confirmed that the office company notified its members at the building and closed the office. More than 100,000 people have been infected with coronavirus globally and more than 3,400 have died. The US has reported 14 deaths. 14-day self quarantine for WeWork employees TIAA first sent out an email on March 4 that one of its employees had been exposed to the coronavirus and was quarantined, the New York Post previously reported. The building was then deep-cleaned. On Friday, employees learned their colleague had tested positive. TIAA told employees on Friday it was trying to ascertain how to connect them with laptops for remote work, asking them in the memo to share their specific technology needs. The WeWork email said members at the location could not access the space until further notice, nor could any personal items be retrieved. Members at 575 Lexington are not allowed to work in other WeWorks. The WeWork email said its employees at the location would self-quarantine for 14 days. On Tuesday, the office company issued guidance about coronavirus, the first time it addressed the virus in an all-member email, Business Insider previously reported. Some tech firms have reported cases of the coronavirus, including two Microsoft employees, a Google employee in Switzerland, and a Facebook contractor in Seattle. Two HSBC employees, one in China and the other in London, have contracted the virus, according to a Bloomberg report. Wall Street firms are implementing travel bans and splitting teams to work remotely.
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WeWork is rolling out global layoffs over Zoom as the coworking giant struggles to cope with coronavirus fallout
WeWork has started global layoffs as the coronavirus pandemic ravages the office industry, with sales, physical...WeWork has started global layoffs as the coronavirus pandemic ravages the office industry, with sales, physical product, operations, and other groups seeing cuts on Thursday. Other venture-backed competitors, including Knotel, Industrious, and Convene, have laid off hundreds as the pandemic drives down demand for office space. Earlier this month, WeWork's outsourced cleaning provider, JLL, laid off some cleaning staff in response to the pandemic. For more WeWork stories, click here. WeWork laid staff off on Thursday in cuts that could continue for the next month. Affected departments ranged from business operations to sales to physical product, which includes design. The layoffs came via Zoom calls, as has become the norm across downsizing companies under shelter-in-place orders. People who were laid off, who spoke under the condition of anonymity because of nondisclosure agreements, described departmental executives delivering the cuts via a script to their respective groups – chief sales officer Nick Worswick talked to the sales team, and chief product officer Hamid Hashemi spoke to physical product, for example. The executives then handed the call to human resources. The latest cuts come on top of thousands of jobs the coworking company has slashed after its IPO imploded last year. The laid-off employees received the same severance as those affected by the November cuts: four months of salary and benefits. The total number of cuts was not communicated to employees, said multiple sources. In November, employees were laid off en masse, with New York employees reporting to WeWork's Chelsea headquarters with their company-issued electronics to turn in over the course of a day. Now, the layoffs appear to be rolled out over days and weeks. At an all-staff meeting earlier this month, CEO Sandeep Mathrani said the cuts would finish by the end of May, Bloomberg reported. "As WeWork continues to execute its strategic five-year plan we are realigning certain functions and teams to reflect our business priorities," a WeWork spokesman said, declining further comment. The company also cut 74 positions in San Francisco, ranging from building management to corporate roles, the San Francisco Business Times reported earlier this week. Many of WeWork's venture-backed competitors have already cut staff as the coronavirus pandemic ravages the real-estate market, dampening demand for office space that sits empty during shelter-in-place orders. So far, 435 total employees have been impacted among Convene, Industrious, and Knotel. See more: The coronavirus is a 'nuclear bomb' for companies like WeWork. 10 real-estate insiders lay out the future of flex-office, and how employers are preparing now. WeWork execs had previously publicly projected confidence about weathering the coronavirus pandemic, with a March letter to investors reassuring them that the $4.4 billion in cash and cash commitments on hand at the start of 2020 was enough to execute the company's five-year plan. SoftBank, WeWork's biggest investor, earlier this month scrapped a planned purchase of $3 billion worth of WeWork shares from other investors and employees, including former CEO Adam Neumann. The decision also most likely means WeWork would no longer be able to tap into a $1.1 billion credit line from the Japanese conglomerate, since that debt financing was conditioned on SoftBank completing its share-purchase plan. And earlier on Thursday, SoftBank bumped up its estimate for how big a hit its $100 billion Vision Fund would take from its WeWork investment and subsequent bailout. Business Insider had reported earlier this month that WeWork's maintenance outsourcing provider cut some of its cleaning staff even as buildings stay open during the pandemic. It was unclear exactly how many of those contract employees were cut, though all staff with the title "community service associate" were laid off. A source with knowledge of the business told Business Insider that it was not a majority of the 1,000 WeWorkers who were outsourced to JLL in December. According to its website, WeWork has not shut any of its US locations due to the coronavirus, explaining that because some of its members are essential and WeWork provides mail and other services, they can remain open. Still, members have told Business Insider they were still expected to pay WeWork April rent, even if they are nonessential businesses that cannot actually enter the space. SoftBank-backed companies have cut more than 3,300 employees in 2020, with many of those layoffs coming before the pandemic. Have a WeWork tip? Contact this reporter via encrypted messaging app Signal at +1 (646) 768-1627 using a non-work phone, email at email@example.com, or Twitter DM at @MeghanEMorris. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop. SEE ALSO: Knotel is scrambling to pay millions in bills that started stacking up before the coronavirus hit, and hasn't paid April rent at some locations READ MORE: $1.5 billion ZipRecruiter just laid off hundreds only days after the CEO said the economy was headed for a steep increase in hiring after the end of the coronavirus SEE ALSO: WeWork members are getting fed up paying rent while the coworking giant tries to catch a break on its own leases. Here's how 4 entrepreneurs are trying to get out. Join the conversation about this story » NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America
Apple CEO Tim Cook tells office employees to work from home as the company plans to reduce 'human density' in stores amid coronavirus outbreak
In a memo sent to employees, Apple CEO Tim Cook urged some of the company's global...In a memo sent to employees, Apple CEO Tim Cook urged some of the company's global office employees to work remotely this week amid the spread of the novel coronavirus. While the policy is only applicable to workers at Apple's offices, the company has also instituted new efforts to limit "human density" at its retail locations. Apple's decision to allow employees to work remotely mirrors decisions made by other tech companies like Microsoft, Facebook, and Alphabet. Visit Business Insider's homepage for more stories. Apple CEO Tim Cook told office employees across the world can work from home as COVID-19, becoming the latest major tech company to allow remote work. In a memo to employees obtained by Bloomberg News, Cook offered employees at its global offices the opportunity to work from home for the upcoming week of March 9 to 13 "if your job allows." As Business Insider reported Friday, a source familiar with the matter said employees in Santa Clara Valley — the location of Apple's Cupertino headquarters, in the San Francisco Bay Area — had already been recommended to work from home. In the memo, Cook also said the company was working to reduce "human density and ensure those teams that are on-site can do their work safely and with peace of mind," Bloomberg reported. While the work-from-home option does not apply to workers at Apple's more than 500 global retail stores, the company said it would work to reduce the number of people in stores for Genius Bar appointments and at classes offered by the Cupertino, California-based company at its worldwide retail locations. The company previously enacted new measures in US stores meant to limit any spread of the virus such as the increased wipe-down of demo units, installing hand sanitizing stations, and increasing the number of cleaning staff at the stores. Apple in February temporarily shuttered its China retail locations to help limit the spread of the virus, though most locations have since re-opened. The work from home memo specifically applies to Apple employees in Santa Clara Valley and Elk Grove areas in California, Seattle, South Korea, Japan, Italy, Germany, France, Switzerland, and the UK, Bloomberg reported. Apple has repeatedly advised employees who feel sick to remain home from work and encouraged virtual meetings over those that require travel, according to a previous Business Insider report. It also encouraged employees to regularly wash their hands and avoid touching their faces. According to Bloomberg News, Cook said employees would continue to receive their usual pay while working from home. The new directive comes amid reports that Apple's supply chain has taken a hit amid the coronavirus outbreak. The virus has had a major impact on the production of the iPhone, which is not expected to improve until at least the second quarter of 2020. Other companies like Facebook, Twitter, Microsoft, Amazon, and Alphabet have all announced similar policies, restricting travel and directing employees in some of their global offices to work from home. COVID-19 has infected more than 106,000 people and killed 3,600 others, mostly in China, though the disease is spreading globally. So far, at least 21 people have died in the US as a result while hundreds of cases have been confirmed. Cook called the virus "unprecedented event" and a "challenging moment," Bloomberg said. Read more: A seafood salesman accused of smuggling $7 million worth of endangered baby eels has been sentenced How coronavirus is upending corporate America Costco says coronavirus fears gave it a sales boost and stirred up 'crazy' demand Parents are struggling to cope as coronavirus worries shut down schools, leaving kids scared and confusedJoin the conversation about this story » NOW WATCH: Jeff Bezos reportedly just spent $165 million on a Beverly Hills estate — here are all the ways the world's richest man makes and spends his money
Walmart and Amazon truck drivers say their employers haven't provided guidance about how to deal with coronavirus
Amazon has advised its 798,000 employees against "non-essential travel" in the US and globally. Walmart issued...Amazon has advised its 798,000 employees against "non-essential travel" in the US and globally. Walmart issued a memo for its 1.5 million US employees on Friday on coronavirus concerns, and the company advised employees to talk to their manager if they need to travel. However, truck drivers for Walmart and Amazon told Business Insider that they have not received dedicated communication on how to prevent coronavirus given the unique demands of their jobs — which includes daily travel and interaction with imported goods. A Walmart spokesperson confirmed that its 9,000 company truck drivers have not received specific communication, and referred Business Insider to its Friday memo. Amazon did not provide a comment in time for publication. Visit Business Insider's homepage for more stories. Truck drivers who move loads for Walmart and Amazon told Business Insider that they have not received communication from their companies on how to navigate the outbreak. These truckers include Walmart and Amazon company truck drivers, as well as contract truck drivers for Amazon. Both retailers have massive, internal transportation networks to move the goods Americans order online or buy in-store every day. Each company has, however, communicated more broadly to employees about coronavirus. Walmart issued a memo for its 1.5 million US employees on Friday on coronavirus concerns, and advised employees to talk to their manager if they need to travel. Amazon told its global workforce of nearly 800,000 on Friday to avoid "non-essential travel" domestically and internationally. Among its sprawling operations team, senior vice president Dave Clark advised employees to not schedule meetings requiring travel until April, The New York Times reported. Still, truck drivers have unique workplace demands, which they say haven't been met by these internal communications. They are required to travel around the US each day for work. Walmart is the largest retailer in the US with $388 billion in retail sales, according to the most recent data from the National Retail Federation. With $121 billion in retail sales, NRF ranked Amazon as the country's No. 2 largest retailer. A Walmart spokesperson confirmed that its 9,000 company truck drivers have not received specific communication, and referred Business Insider to its Friday memo. Amazon did not provide a comment in time for publication. "We haven't heard anything from anybody," a truck driver for Walmart, who did not want his name published for fear of retribution, told Business Insider. "I'm not too concerned about it," the driver added. "I police myself with washing my hands, not shaking as many hands, using hand sanitizer." Truck drivers for Walmart do not handle freight. However, the company and contract truck drivers who move your Prime packages for Amazon expressed in interviews that they were concerned about handling packages, many of which may have been manufactured in China. One Amazon truck driver, who is employed by the company, said he's concerned that the employees at his transportation center aren't washing their hands before handling packages. "Mainly, you got younger people, and you can tell everyone wash their hands and not touch their eyes all day long," the driver, who did not want his name published for fear of retribution, said. "They aren't going to do it." That Amazon truck driver and another Amazon driver shared that they are following internet and television news to learn what is happening with coronavirus. One expressed confusion that Amazon, for whom he is a contractor, should have communicated to him about the outbreak. "I am concerned about the virus, just taking all precautions to stay safe," one truck driver, who did not want his name published for fear of retribution, who moves Amazon goods as a contractor. As of March 2, there are more than 90,000 confirmed cases of coronavirus worldwide. More than 3,000 have died, including six in the US. Are you a truck driver for Amazon or Walmart? Email the reporter at firstname.lastname@example.org. SEE ALSO: Worked 'like a rented mule': A truck driver claims an Amazon contractor forced him to drive for up to 30 hours straight in a new lawsuit DON'T MISS: Morgan Stanley is sounding the alarm on Amazon's logistics network for UPS, USPS, and FedEx — with a chilling estimate of up to $100 billion in revenue slashed from the giants Join the conversation about this story » NOW WATCH: What it takes to be a first-class flight attendant for Emirates