ReportWire

Tag: Educational services

  • After fighting over connected fitness, Peloton and Lululemon join forces

    After fighting over connected fitness, Peloton and Lululemon join forces

    [ad_1]

    Peloton Interactive’s stock jumped after hours Wednesday after the connected-exercise-bike maker and yoga-wear giant Lululemon Athletica announced a five-year partnership that will combine digital fitness with workout and athleisure gear starting next month.

    The move comes as the fitness industry recalibrates after a boom and bust in at-home workouts due to the pandemic, and after Peloton
    PTON,
    +0.65%

    and Lululemon
    LULU,
    -0.40%

    tried to compete with each other directly on connected fitness. But as part of the deal, Lululemon will stop selling its Lululemon Studio Mirror — its answer to Peloton’s pairing of exercise equipment and exercise videos — before the end of the year.

    Shares of Peloton climbed 13.3% after hours Wednesday. Lululemon’s stock was up 0.3% after hours.

    Under the partnership, Peloton will become the “exclusive digital fitness content provider” for Lululemon. Lululemon, meanwhile, will become Peloton’s “primary athletic-apparel partner.” Some Peloton instructors will also promote Lululemon’s clothing as part of the arrangement.

    The partnership will target customers across North America, the U.K., Germany and Australia. Starting Oct. 11, co-branded clothing across Lululemon’s products will be available at Peloton stores and online in the United States, the U.K. and Canada, and in Peloton’s markets by March. Beginning Nov. 1, Lululemon Studio All-Access Members will have access to Peloton classes.

    “Our two companies share a vision to advance wellbeing through movement, and this partnership ensures our lululemon Studio Members will have access to the most expansive and dynamic offering of fitness content possible,” Celeste Burgoyne, Lululemon’s president for the Americas and global guest innovation, said in a statement.

    Lululemon bought Mirror — an interactive fitness company that displayed workout videos and fitness data on an actual mirror — for $500 million in 2020, when much of the world still faced pandemic-related restrictions.

    Then, lockdowns eased and pre-pandemic habits returned. Gyms reopened. Peloton started getting into trouble. It has cut jobs, shaken up leadership and announced a recall of 2 million exercise bikes due to injury risks. Shares of the company have fallen more than 90% since late 2020.

    Lululemon stock, however, has run higher since that time. Some analysts last year said that clothing made by the company was less prone to a broader apparel discounting frenzy. During its most recent round of earnings, Lululemon raised its full-year outlook despite what it called a “dynamic operating environment.

    [ad_2]

    Source link

  • U.S. banks and regional lenders slide across the board as S&P is latest to downgrade ratings

    U.S. banks and regional lenders slide across the board as S&P is latest to downgrade ratings

    [ad_1]

    U.S. banks and regional banks fell across the board on Tuesday, after S&P Global Ratings downgraded five smaller players after a review of risk related to funding, liquidity and asset quality with a focus on office commercial real estate.

    Adding to the gloom, Republic First Bancorp. Inc.’s stock
    FRBK,
    -41.90%

    tanked by 39%, after Nasdaq told the company that its stock would be delisted on Wednesday, after it failed to file its annual report in time.

    S&P’s move comes just days after Fitch Ratings analyst Christopher Wolfe reduced his operating environment score for U.S. banks to aa- from aa due to the unknown path of interest rate hikes and regulatory changes facing the sector.

    And Moody’s Investors Service just two weeks ago upset investors when it downgraded some lenders and said it was reviewing ratings on bigger banks, including Bank of New York Mellon
    BK,
    -1.71%
    ,
    State Street
    STT,
    -1.59%

    and Northern Trust
    NTRS,
    -1.73%
    .

    For more, see: Bank asset quality, weaker profits spark Moody’s reviews and downgrades as it weighs potential 2024 recession

    The S&P 500 Financials Sector has fallen for seven consecutive days, and is on pace for its longest losing streak since April 7, 2022, when it also fell for seven straight trading days.

    Individual bank names are also performing poorly, with Goldman Sachs Group Inc.
    GS,
    -0.94%

    and Citigroup Inc.
    C,
    -1.68%

    down for 10 of the past 11 days and Charles Schwab Corp.
    SCHW,
    -4.84%

    down 11 straight days.

    Goldman alone has fallen for seven straight days for a total loss of 6.3%. It’s the longest losing streak since Feb. 28, 2020, when it also fell for seven straight days as the pandemic was taking hold.

    The KBW Nasdaq Regional Banking Index
    KBWR
    is down for 11 straight days. and the KBW Nasdaq Bank Index
    BKX
    is down for seven straight days.

    S&P downgraded Associated Banc. Corp. 
    ASB,
    -4.20%
    ,
     Comerica Inc.
    CMA,
    -3.82%
    ,
     KeyCorp
    KEY,
    -3.58%
    ,
     UMB Financial Corp. 
    UMBF,
    -2.42%

    % and Valley National Bancorp. 
    VLY,
    -4.19%

    by one notch and said the outlook on all five is stable.

    Read also: More challenges await U.S. banks but analysts think the worst may be over for the year

    The rating agency affirmed ratings on Zions Bancorp
    ZION,
    -4.17%

     and maintained a negative outlook, meaning it could downgrade them again in the near-term. And it affirmed ratings and a stable outlook on Synovus Financial Corp. 
    SNV,
    -3.37%

     and Truist Financial Corp. 
    TFC,
    -1.36%

     “We reviewed these 10 banks because we identified them as having potential risks in multiple areas that could make them less resilient than similarly rated peers ,” S&P said in a statement.

    “For instance, some that have seen greater deterioration in funding—-as indicated by sharply higher costs or substantial dependence on wholesale funding and brokered deposits—-may also have below-peer profitability, high unrealized losses on their assets, or meaningful exposure to CRE.”

    The steep rise in interest rates orchestrated by the Federal Reserve over the past year has raised deposit costs as banks are now competing for savers seeking higher returns and that’s forced some to pay up on deposits and discourage their clients from heading to other institutions and instruments.

    The sector has been skittish this year following the collapse of Silicon Valley Bank and other lenders that led to a run on deposits at a number of regional lenders.

    However, S&P said about 90% of the banks it rates have stable outlooks and just 10% have negative ones. None have positive outlooks.

    The widespread stable outlooks shows that stability in the U.S. banking sector has improved significantly in recent months.

    S&P is expecting FDIC-backed banks in aggregate to earn a relatively healthy ROE of about 11% in 2023.

    KeyCorp. and Comerica both fell more than 3% on the news. Of the two, KeyCorp. has more outstanding debt and its 10-year bonds widened by about 5 to 10 basis points, according to data solutions provider BondCliq Media Services.

    As the following chart shows, the bonds have seen better selling on Wednesday with buyers emerging around midmorning.


    KeyBank net customer flow (intraday). Source: BondCliQ Media Services

    The next chart shows customer flow over the last 10 days.


    Most active KeyBank issues with net customer flow (last 10 days). Source: BondCliQ Media Services

    The next chart shows the outstanding debt of the downgraded banks, with KeyCorp. clearly the leader with almost $16 billion of bonds.


    Outstanding S&P downgraded banks debt USD by maturity bucket. Source: BondCliQ Media Services

    Don’t miss: Capital One confirms roughly $900 million sale of office loans as property sector wobbles

    [ad_2]

    Source link

  • Chegg, Arista, Uber, Pfizer, DuPont, and More Stock Market Movers

    Chegg, Arista, Uber, Pfizer, DuPont, and More Stock Market Movers

    [ad_1]


    • Order Reprints
    • Print Article

    [ad_2]
    Source link

  • Chegg Stock Sinks on Worries About ChatGPT

    Chegg Stock Sinks on Worries About ChatGPT

    [ad_1]



    Chegg


    shares were sinking in late trading Monday after the education technology firm warned that students are using OpenAi’s ChatGPT for homework help, hurting


    Chegg


    ‘s own efforts to add new customers.

    [ad_2]

    Source link

  • Students are turning to ChatGPT for study help, and Chegg stock is plummeting 30%

    Students are turning to ChatGPT for study help, and Chegg stock is plummeting 30%

    [ad_1]

    Chegg Inc. shares plunged more than 30% Monday afternoon and were headed toward their lowest price since 2017, after the online-education company’s forecast called for an unexpected revenue decline as students begin to use ChatGPT.

    Chegg CHGG reported first-quarter earnings of $2.2 million, or 2 cents a share, on net revenue of $187.6 million, down from $202.2 million a year ago. After adjusting for stock compensation and other effects, the company reported earnings of 27 cents a share, down from 32 cents a share in the same…

    [ad_2]

    Source link

  • First Republic gets $30 billion in deposits from 11 major U.S. banks, but stock resumes slide as it suspends dividend

    First Republic gets $30 billion in deposits from 11 major U.S. banks, but stock resumes slide as it suspends dividend

    [ad_1]

    Bank of America BAC, Citigroup C, JPMorgan Chase JPM and Wells Fargo WFC said Thursday that they are each making $5 billion in uninsured deposits into First Republic Bank FRC as part of a $30 billion backstop by 11 banks against the ravaged banking landscape of the past week.

    However, First Republic stock fell 14.7% in after-hours trading after the bank said it would suspend its dividend to conserve cash. The bank last paid a quarterly dividend of 27 cents a share on Feb. 9 to shareholders of record as of Jan. 26.

    It…

    [ad_2]

    Source link

  • Genius Group stock rallies more than 200% after it appoints former F.B.I. director to investigate alleged naked short selling

    Genius Group stock rallies more than 200% after it appoints former F.B.I. director to investigate alleged naked short selling

    [ad_1]

    The stock of a Singapore-based ed-tech and education company called Genius Group Ltd. rallied more than 200% on Thursday, after it said it appointed a former F.B.I. director to lead a task force investigating alleged illegal trading in its stock that it first disclosed in early January. 

    The stock was last up 264% to mark its biggest-ever one-day percentage gain. Volume of 197.76 million shares traded crushed the 65-day average of just 634,17. Genius Group
    GNS,
    +290.29%

    also said it would issue a special dividend to shareholders to help expose the wrongdoing and is considering a dual listing that would make illegal naked short selling more difficult.

     The task force will be led by Timothy Murphy, a former deputy director of the F.B.I. who is also on the board. It will include Richard Berman, also a Genius Group Director and chair of the company’s Audit Committee, and Roger Hamilton, the chief executive officer of Genius Group.

    “The company has been in communication with government regulatory authorities and is sharing information with these authorities to assist them,” the company said in a statement.

    Genius Group said it has proof from Warshaw Burstein LLP and Christian Levine Law Group, with tracking from Share Intel, that certain individual and/or companies sold but failed to deliver a “significant” amount of its shares as part of a scheme seeking to artificially depress the stock price.

    It will now explore legal action and will hold an extraordinary general meeting in the coming weeks to get shareholder approval for its planned actions.

    On the Genius website, Hamilton explains what the company, which went public in 2022, thinks happened.

    Genius’ IPO priced at $6 a share in April of 2022, he wrote in a blog. The company, which aims to develop an entrepreneur education system, then completed five acquisitions of education companies to build out its portfolio and reported more than 60% growth in its last earnings report.

    Analysts at Diamond Equity assigned it an $11.28 stock price target, while Zacks assigned it a $19.20 stock price target.

    “By all measures, we believed we were doing all the right things to justify a rising share price,” said Hamilton.

    The company then announced two funding rounds totaling $40 million to grow its balance sheet to more than $60 million, yet its stock fell to under 40 cents, or less than 25% of the cash raised and less than 20% of its net assets.

    “This didn’t happen gradually,” the executive wrote. “It happened in two month intervals from our IPO, in June, August, October and December. Each time, over a period of a few days, massive selling volume that was a multiple of our float (As most of our shares are on lock up, only around 4 million are tradeable) was sold into the market, making our share price drop by 50% or more.”

    The company has since drawn on Wes Christian, a short-selling litigator from Christian Levine Law Group, who has helped it understand how naked short selling works, and then Share Intel helped find the proof that that’s what has happened.

    Individuals or groups get together and sell shares in a target company that they don’t own, with the aim of getting the share price to fall 50% in a short period. They use small-cap firms that have low buying volume, allowing them to scare off buyers.

    “The broker doesn’t bother to find shares to borrow,” said Hamilton. “They simply sell shares they don’t have and after a few days book them as FTDs (failure to deliver) or hide them as long sales instead of short sales. The people who bought the shares have no idea they bought a fake share, and suddenly there’s plenty more shares in the market than there should be.”

    If these groups sell 6 million shares from $12 to $6 each, and then buy back over two months at under $6, they double their money. That allows them to make up to $30 million out of thin air. They can then repeat the whole process a few months later.

     “If they don’t buy back all the shares, they simply leave them as FTDs or hide them in offshore accounts,” he wrote. “At no point do they need to put up any cash to make this happen, as they’re making money from the moment they start selling fake shares.”

    The ultimate goal is to push a company into bankruptcy, where the equity will be wiped out, meaning they never have to cover the short position on the fake shares.

    By issuing a special dividend, Genius is hoping to find who is responsible, as all brokers are forced to disclose to the Depository Trust & Clearing Corp. (DTCC) how many shares their clients hold and how many dividends will be paid. Theoretically, that should expose the oversold shares and dishonest brokers will be forced to cover their position, said Hamilton.

    In practice, dishonest brokers will not declare the fake shares and just pay the dividend out of their own pockets.

    “If you issue a dividend that isn’t straight cash—such as a spinoff of a company so you are issuing shares, or a blockchain based asset, then the brokers can’t do that are a forced to either cover or be exposed,” he wrote.

    [ad_2]

    Source link

  • Walmart shooting raises need for violence prevention at work

    Walmart shooting raises need for violence prevention at work

    [ad_1]

    NEW YORK — The mass shooting Wednesday at a Walmart in Virginia was only the latest example of a workplace shooting perpetrated by an employee.

    But while many companies provide active shooter training, experts say there is much less focus on how to prevent workplace violence, particularly how to identify and address worrisome behavior among employees.

    Workers far too often don’t know how to recognize warning signs, and even more crucially don’t know how to report suspicious behavior or feel empowered to do so, according to workplace safety and human resources experts.

    “We have built an industry around how to lock bad guys out. We have heavily invested in physical security measure like metal detectors, cameras and armed security guards,” said James Densley, professor of criminal justice at Metropolitan State University in St. Paul, Minnesota, and co-founder of the nonprofit and nonpartisan research group The Violence Project. But too often in workplace shootings, he said, “this is someone who already has access to the building.”

    The Walmart shooting in particular raised questions of whether employees feel empowered to speak up because it was a team leader who carried out the shooting.

    Identified by Walmart as 31-year-old Andre Bing, he opened fire on fellow employees in the break room of the Chesapeake store, killing six people and leaving six others wounded. Police said he then apparently killed himself.

    Employee Briana Tyler, who survived the shooting, said Bing appeared not to be aiming at anyone in particular. Tyler, who started at Walmart two months ago, said she never had a negative encounter with Bing, but others told her that he was “the manager to look out for.” She said Bing had a history of writing people up for no reason.

    Walmart launched a computer-based active shooter training in 2015, which focused on three pillars: avoid the danger, keep your distance and lastly, defend. Then, in 2019 after a mass shooting at an El Paso, Texas, store in which an outside gunman killed 22 people, Walmart addressed the threat to the public by discontinuing sales of certain kinds of ammunition and asked that customers no longer openly carry firearms in its stores. It now sells only hunting rifles and related ammunition.

    Walmart didn’t specifically respond on Wednesday to questions seeking more detail about its training and protocols to protect its own employees. The company only said that it routinely reviews its training policies and will continue to do so.

    Densley said that employers need to create open channels for workers to voice concerns about employees’ behavior, including confidential hotlines. He noted that too often attention is focused on the “red flags” and workers should be looking for the “yellow flags” — subtle changes in behavior, like increased anger or not showing up for work. Densley said managers need to work with those individuals to get them counseling and do regular check-ins.

    In fact, the Department of Homeland Security’s active shooting manual states that human resources officials have a responsibility to “create a system for reporting signs of potential violence behavior.” It also encourages employees to report concerning behavior such as increased absenteeism and repeated violation of company policies.

    But many employers may not have such prevention policies in place, said Liz Peterson, Quality Manager at the Society for Human Resource Management, an organization of more than 300,000 human resources professionals.

    She noted that in a 2019 SHRM survey of its members, 55% of HR professionals said they didn’t know if their organizations had policies to prevent workplace violence, and another 9% said they lacked such programs. That was in contrast to the 57% of HR managers who said they did have training on how to respond to violence.

    A recent federal government report examining workplace violence over three decades found that workplace homicides have risen in recent years, although they remain sharply down from a peak in the mid-1990s.

    Between 2014 and 2019, workplace homicides nationwide increased by 11% from 409 to 454. That was still down 58% from a peak of 1,080 in 1994, according to the report, which was released in July by the Departments of Labor, Justice and Health and Human Services. The report found that workplace homicide trends largely mirrored homicide trends nationwide.

    But the country’s spike in mass public shootings is raising awareness among employers of the need to address mental health in the workplace and prevent violence — and of the liabilities employers can face if they ignore warning signs, Peterson said.

    In one high-profile example, the family of a victim filed a wrongful death lawsuit earlier this year against the Northern California Transportation agency, alleging it failed to address the history of threatening behavior of an employee who shot and killed nine co-workers at a light railyard in San Jose in 2021.

    The transportation agency released more than 200 pages of emails and other documents showing the shooter, Samuel James Cassidy, had been the subject of four investigations into workplace conduct, and one worker had worried that Cassidy could “go postal.” That expression stems from one of the deadliest workplace shooting in U.S. history, when a postal worker shot and killed 14 workers in Edmond, Oklahoma, in 1986.

    “Workplace violence is a situation that you never think is going to happen to your organization until it does, and unfortunately, it’s important to prepare for them because they are becoming more commonplace,” Peterson said.

    ———

    This story has been updated to correct the location of Metropolitan State University. It’s in St. Paul, not DePaul, Minnesota.

    [ad_2]

    Source link

  • Walmart shooting raises need for violence prevention at work

    Walmart shooting raises need for violence prevention at work

    [ad_1]

    NEW YORK — The mass shooting Wednesday at a Walmart in Virginia was only the latest example of a workplace shooting perpetrated by an employee.

    But while many companies provide active shooting training, experts say there is much less focus on how to prevent workplace violence, particularly how to identify and address worrisome behavior among employees.

    Workers far too often don’t know how to recognize warning signs, and even more crucially don’t know how to report suspicious behavior or feel empowered to do so, according to workplace safety and human resources experts.

    “We have built an industry around how to lock bad guys out. We have heavily invested in physical security measure like metal detectors, cameras and armed security guards,” said James Densley, professor of criminal justice at Metropolitan State University in DePaul, Minnesota and co-founder of the nonprofit and nonpartisan research group The Violence Project. But too often in workplace shootings, he said, “this is someone who already has access to the building.”

    The Walmart shooting in particular raised questions of whether employees feel empowered to speak up because it was a team leader who carried out the shooting.

    Identified by Walmart as 31-year-old Andre Bing, he opened fire on fellow employees in the break room of the Chesapeake store, killing six people and leaving six others wounded. Police said he then apparently killed himself.

    Employee Briana Tyler, who survived the shooting, said Bing appeared not to be aiming at anyone in particular. Tyler, who started at Walmart two months ago, said she never had a negative encounter with Bing, but others told her that he was “the manager to look out for.” She said Bing had a history of writing people up for no reason.

    Walmart launched a computer-based active shooter training in 2015, which focused on three pillars: avoid the danger, keep your distance and lastly, defend. Then, in 2019 after a mass shooting at an El Paso, Texas, store in which an outside gunman killed 22 people, Walmart addressed the threat to the public by discontinuing sales of certain kinds of ammunition and asked that customers no longer openly carry firearms in its stores. It now sells only hunting rifles and related ammunition.

    Walmart didn’t specifically respond on Wednesday to questions seeking more detail about its training and protocols to protect its own employees. The company only said that it routinely reviews its training policies and will continue to do so.

    Densley said that employers need to create open channels for workers to voice concerns about employees’ behavior, including confidential hotlines. He noted that too often attention is focused on the “red flags” and workers should be looking for the “yellow flags” — subtle changes in behavior, like increased anger or not showing up for work. Densley said managers need to work with those individuals to get them counseling and do regular check-ins.

    In fact, the Department of Homeland Security’s active shooting manual states that human resources officials have a responsibility to “create a system for reporting signs of potential violence behavior.” It also encourages employees to report concerning behavior such as increased absenteeism and repeated violation of company policies.

    But many employers may not have such prevention policies in place, said Liz Peterson, Quality Manager at the Society for Human Resource Management, an organization of more than 300,000 human resources professionals.

    She noted that in a 2019 SHRM survey of its members, 55% of HR professionals said they didn’t know if their organizations had policies to prevent workplace violence, and another 9% said they lacked such programs. That was in contrast to the 57% of HR managers who said they did have training on how to respond to violence.

    A recent federal government report examining workplace violence over three decades found that workplace homicides have risen in recent years, although they remain sharply down from a peak in the mid-1990s.

    Between 2014 and 2019, workplace homicides nationwide increased by 11% from 409 to 454. That was still down 58% from a peak of 1,080 in 1994, according to the report, which was released in July by the Departments of Labor, Justice and Health and Human Services. The report found that workplace homicide trends largely mirrored homicide trends nationwide.

    But the country’s spike in mass public shootings is raising awareness among employers of the need to address mental health in the workplace and prevent violence — and of the liabilities employers can face if they ignore warning signs, Peterson said.

    In one high-profile example, the family of a victim filed a wrongful death lawsuit earlier this year against the Northern California Transportation agency, alleging it failed to address the history of threatening behavior of an employee who shot and killed nine co-workers at a light railyard in San Jose in 2021.

    The transportation agency released more than 200 pages of emails and other documents showing the shooter, Samuel James Cassidy, had been the subject of four investigations into workplace conduct, and one worker had worried that Cassidy could “go postal.” That expression stems from one of the deadliest workplace shooting in U.S. history, when a postal worker shot and killed 14 workers in Edmond, Oklahoma, in 1986.

    “Workplace violence is a situation that you never think is going to happen to your organization until it does, and unfortunately, it’s important to prepare for them because they are becoming more commonplace,” Peterson said.

    [ad_2]

    Source link

  • Walmart shooting raises need for violence prevention at work

    Walmart shooting raises need for violence prevention at work

    [ad_1]

    NEW YORK — The mass shooting Wednesday at a Walmart in Virginia was only the latest example of a workplace shooting perpetrated by an employee.

    But while many companies provide active shooting training, experts say there is much less focus on how to prevent workplace violence, particularly how to identify and address worrisome behavior among employees.

    Workers far too often don’t know how to recognize warning signs, and even more crucially don’t know how to report suspicious behavior or feel empowered to do so, according to workplace safety and human resources experts.

    “We have built an industry around how to lock bad guys out. We have heavily invested in physical security measure like metal detectors, cameras and armed security guards,” said James Densley, professor of criminal justice at Metropolitan State University in DePaul, Minnesota and co-founder of the nonprofit and nonpartisan research group The Violence Project. But too often in workplace shootings, he said, “this is someone who already has access to the building.”

    The Walmart shooting in particular raised questions of whether employees feel empowered to speak up because it was a manager who carried out the shooting.

    That manager, identified by Walmart as 31-year-old Andre Bing, opened fire on fellow employees in the break room of the Chesapeake store, killing six people and leaving six others wounded. Police said he then apparently killed himself.

    Employee Briana Tyler, who survived the shooting, said Bing appeared not to be aiming at anyone in particular. Tyler, who started at Walmart two months ago, said she never had a negative encounter with Bing, but others told her that he was “the manager to look out for.” She said Bing had a history of writing people up for no reason.

    Walmart launched a computer-based active shooter training in 2015, which focused on three pillars: avoid the danger, keep your distance and lastly, defend. Then, in 2019 after a mass shooting at an El Paso, Texas, store in which an outside gunman killed 22 people, Walmart addressed the threat to the public by discontinuing sales of certain kinds of ammunition and asked that customers no longer openly carry firearms in its stores. It now sells only hunting rifles and related ammunition.

    Walmart didn’t specifically respond on Wednesday to questions seeking more detail about its training and protocols to protect its own employees. The company only said that it routinely reviews its training policies and will continue to do so.

    Densley said that employers need to create open channels for workers to voice concerns about employees’ behavior, including confidential hotlines. He noted that too often attention is focused on the “red flags” and workers should be looking for the “yellow flags” — subtle changes in behavior, like increased anger or not showing up for work. Densley said managers need to work with those individuals to get them counseling and do regular check-ins.

    In fact, the Department of Homeland Security’s active shooting manual states that human resources officials have a responsibility to “create a system for reporting signs of potential violence behavior.” It also encourages employees to report concerning behavior such as increased absenteeism and repeated violation of company policies.

    But many employers may not have such prevention policies in place, said Liz Peterson, Quality Manager at the Society for Human Resource Management, an organization of more than 300,000 human resources professionals.

    She noted that in a 2019 SHRM survey of its members, 55% of HR professionals said they didn’t know if their organizations had policies to prevent workplace violence, and another 9% said they lacked such programs. That was in contrast to the 57% of HR managers who said they did have training on how to respond to violence.

    A recent federal government report examining workplace violence over three decades found that workplace homicides have risen in recent years, although they remain sharply down from a peak in the mid-1990s.

    Between 2014 and 2019, workplace homicides nationwide increased by 11% from 409 to 454. That was still down 58% from a peak of 1,080 in 1994, according to the report, which was released in July by the Departments of Labor, Justice and Health and Human Services. The report found that workplace homicide trends largely mirrored homicide trends nationwide.

    But the country’s spike in mass public shootings is raising awareness among employers of the need to address mental health in the workplace and prevent violence — and of the liabilities employers can face if they ignore warning signs, Peterson said.

    In one high-profile example, the family of a victim filed a wrongful death lawsuit earlier this year against the Northern California Transportation agency, alleging it failed to address the history of threatening behavior of an employee who shot and killed nine co-workers at a light railyard in San Jose in 2021.

    The transportation agency released more than 200 pages of emails and other documents showing the shooter, Samuel James Cassidy, had been the subject of four investigations into workplace conduct, and one worker had worried that Cassidy could “go postal.” That expression stems from one of the deadliest workplace shooting in U.S. history, when a postal worker shot and killed 14 workers in Edmond, Oklahoma, in 1986.

    “Workplace violence is a situation that you never think is going to happen to your organization until it does, and unfortunately, it’s important to prepare for them because they are becoming more commonplace,” Peterson said.

    [ad_2]

    Source link