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Accenture to promote 50,000 employees globally, including 15,000 in India
- Accenture plans to promote approximately 50,000 employees worldwide by June 2025, with around 15,000 promotions slated for India.
- The promotions were initially delayed due to decreased client spending and increased US government contract scrutiny but are now moving forward as market conditions improve.
- About six percent of Accenture's global workforce, totaling around 801,000 employees, will be impacted by these promotions.
- The company aims to enhance employee morale and retain talent amidst economic uncertainties by also considering base salary increases for select roles.
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Blink Charging cuts 20% of workforce to streamline operations
- Electric vehicle charging company, Blink Charging, is reducing its workforce by 20% to streamline operations and enhance financial stability.
- The restructuring is expected to save over $11 million annually, with initial costs of up to $1.5 million for severance packages and other expenses.
- The decision aims to align operations with strategic priorities under the BlinkForward initiative, addressing declining revenue and positioning for long-term growth.
- This move reflects industry challenges, with Blink aiming to strengthen its competitive position, enhance innovation, and adapt to the evolving electric vehicle infrastructure market.
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TikTok signals job cuts in US e-commerce; asks employees to wfh
- TikTok has asked its US-based e-commerce employees to work from home, sparking speculation of impending job cuts amid company restructuring.
- The new head of TikTok Shop's US operations signaled operational and personnel changes, hinting at layoffs within US e-commerce and global key accounts teams.
- Mu Qing, leading the US operations of TikTok Shop, aims to drive the company's retail ambitions in the American market.
- TikTok's future in the US faces challenges due to regulatory pressures, including a bipartisan law mandating divestment of US operations, amidst trade tensions and potential sale of its US unit.
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A studio gutted by Embracer have come back to life and are working on a new RPG
- Campfire Cabal, a studio previously shut down by Embracer Group, has reemerged and is working on a new RPG in the Expeditions series.
- The studio continued working on the project with a reduced team after being ordered to close two years ago, and has now received approval for full production.
- While details about the new RPG are limited, it will be set in a new historical period and location within the Expeditions series.
- Campfire Cabal has taken over the series from the original studio, Logic Artists, and is moving forward despite setbacks and layoffs.
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Odisha government clarifies maternity leave rules for women employees
- Odisha government issues new guidelines to clarify maternity leave provisions for women employees in government roles.
- Maternity leave can now be taken anytime between three months before Expected Date of Delivery (EDD) and up to six months after childbirth.
- Additional 14 days of leave granted to mothers if their child dies between 29 and 120 days of birth, beyond the initial 180-day maternity leave period.
- Revised guidelines aim to provide support in complex medical situations and ensure workplace policies align with women employees' health and rights.
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High-Yield Savings Account Rates Today: May 21, 2025 – Rates Are Steady
- Savings account rates have remained steady this week, with the highest yield reaching up to 5.84%.
- Traditional savings accounts have historically offered low interest rates, but higher yields can now be found, especially with online banks and credit unions.
- The average APY for a traditional savings account is 0.22%, while high-yield savings accounts offer substantially higher interest rates, albeit sometimes with conditions like minimum deposits or membership requirements.
- Interest rates on savings accounts are influenced by the Federal Reserve's rate changes, with financial institutions adjusting rates accordingly after the Fed's decisions at FOMC meetings.
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Today’s Mortgage Refinance Rates: May 21, 2025 – Rates Drop
- Today, the rate on a 30-year fixed refinance dropped to 6.97%, down from the previous weeks.
- The average rate for a 15-year financed mortgage is 5.94% and for a 20-year financed mortgage is 6.82%.
- Borrowers with a 30-year fixed-rate mortgage of $100,000 will pay about $663 per month at the current interest rate.
- The total interest costs over the life of the loan are around $139,461.
- The APR for a 30-year fixed-rate mortgage is 7%, representing the all-in cost of the home loan.
- For a 20-year fixed mortgage refinance, the average rate is 6.82% with an APR of 6.86%.
- The 15-year fixed mortgage refinance rate averages 5.94% with an APR of 5.98%.
- Refinance rates differ from mortgage rates and are slightly higher, varying by program.
- Consider factors such as closing costs, loan term, and current interest rate when deciding on refinancing.
- Experts expect national average mortgage interest rates to remain in the middle-to-high 6% range in the first half of 2025.
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Latest HELOC & Home Equity Loan Rates: May 21, 2025
- Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes.
- HELOCs provide options for different financial needs: $100K for medium-sized projects, $250K for major investments, and $500K for substantial financing.
- The repayment terms for home equity loans vary from 5 years to 30 years, offering different monthly payment options based on the borrower's goals.
- Calculating home equity involves subtracting the mortgage balance from the property's current value, with lenders typically approving loans based on a certain loan-to-value ratio.
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Money Market Interest Rates Today: May 21, 2025 – Earn Up To 4.89%
- As of today, the highest money market rate is 4.89%, compared to a national average rate of 0.53%.
- Money market accounts work similarly to savings accounts, where you deposit money to earn interest and have the flexibility to withdraw funds when needed.
- Money market accounts usually offer higher interest rates than traditional savings accounts and may provide additional features like debit cards and check-writing capabilities.
- MMAs at banks are insured by the FDIC, while those at credit unions are insured by the NCUA, with both offering up to $250,000 coverage per account type in case of bank failure.
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CD Rates Today: May 21, 2025 – Earn As Much As 5.02%
- Today, CD rates can reach as high as 5.02%, offering better yields compared to high-yield savings accounts.
- CDs pay a fixed interest rate for a specified period, providing a higher yield but with penalties for early withdrawal.
- Rates for three-month CDs range from 1.3% to 4.67%, while the average rate remains at 1.3%.
- Six-month CDs offer rates up to 4.94%, with an average APR of 1.78%.
- The highest rate available for a 12-month CD is 5.02%, with an average APY of 1.83%.
- Two-year CDs currently offer rates up to 4.52%, with an average APY of 1.65%.
- Three-year CDs feature rates as high as 4.27%, with an average APY of 1.58%.
- For five-year CDs, the highest rate is 4.26%, with an average APY of 1.59%.
- Jumbo CDs offer a rate of 4.94% for a 6-month term, with an average APY of 1.82%.
- CDs offer a safe investment option with FDIC protection up to $250,000 in case of a bank failure.
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Mortgage Rates Today: May 21, 2025
- The current mortgage rates for 30-year and 15-year fixed mortgages have increased recently.
- 30-year fixed-rate mortgage is at 6.91% while the APR is 6.94%. A $100,000 loan at this rate would have a monthly payment of around $659.
- 15-year fixed-rate mortgage is at 5.95%. With this rate, a $100,000 loan would have a monthly payment of $841.
- Factors influencing mortgage rates include Federal Reserve decisions, U.S. Treasury bond yields, and global events like the Covid-19 pandemic.
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Military Incremental Complex is freeware classic Dope Wars for arms dealing
- Military Incremental Complex is a freeware game reminiscent of the classic Dope Wars, but focused on arms dealing instead of drug trafficking.
- The game features crafting various weapons, automating production, researching upgrades, establishing a global supply chain, investing in stock markets, and lobbying the government for favors.
- Developed by Space Kraken, the game allows players to increase profits, prestige to unlock abilities, and flood the world with weapons for monetary gain.
- Expected to release in Q3 2025, the game offers unique gameplay mechanics, including customizable builds, and an interface similar to Dope Wars '98.
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The culture that’s quietly killing us
- Recent incidents of young professionals collapsing or dying due to overwork and stress highlight a systemic issue in workplaces.
- The culture of overworking, silent suffering, and neglecting mental health is pervasive and results in tragedies that must be addressed.
- Leadership is called into question for prioritizing productivity over employee well-being and failing to create a supportive work environment.
- Focusing on creating happier and healthier workplaces is not just beneficial but essential to prevent further human tragedies.
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Too good to grow? Viral post highlights promotion denial over efficiency
- A Reddit post recently went viral after an employee disclosed being denied a promotion for being too efficient at their job, sparking widespread frustration online.
- Despite years of experience, training new hires, and assisting their manager during system failures, the employee was passed over for a promotion in favor of a junior colleague.
- The reason given for the denial was that the employee made their current role 'look too easy,' creating a storm of reactions online about the 'competence trap' where high performance can lead to being undervalued.
- The incident has ignited a broader conversation on how workplaces recognize and reward high-performing employees and the potential consequences of overlooking their contributions.
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Alpesh Jain is the new chief technology officer, The Sleep Company
- Alpesh Jain has been appointed as the new chief technology officer at The Sleep Company, leaving his previous association with The Good Glamm Group where he held the position of vice president.
- Jain holds a BE in Electronics and Telecommunication Engineering and has a rich professional journey starting as a software programmer at Infinity Technologies, moving through various roles at different organizations including PricePaaji.com, MyGlamm (Good Glamm Group), and now at The Sleep Company.
- At The Sleep Company, Jain will be responsible for leading the technology vision, driving digital transformation, and developing data-driven solutions to enhance customer experiences.
- Jain's expertise in technology and his goal of improving people's lives through seamless experiences aligns well with The Sleep Company's mission to redefine comfort through technology, as mentioned by Priyanka Salot, the co-founder of the company.
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