Notable business headlines include Instacart offering cash bonuses to employees in an effort to retain staff, former housekeeper to Jeff Bezos suing the Amazon founder over working conditions, and former CBS CEO settling with the NY AG for $30 million over sexual misconduct allegations.
JULIE HYMAN: Let's get down to business now and take a look at some of the other headlines we're watching. Food delivery service Instacart will pay out its first company-wide cash bonus in December. That's according to the "Wall Street Journal." That move aims to boost employee morale among its corporate team during the holidays following the company's decision to delay its public offering amid tightening economic conditions. The move also signals a shift in its employee retention plans. The San Francisco-based company has historically given out equity rewards to keep workers.
Amazon's executive chair Jeff Bezos and the two LLCs he uses to manage his investments and properties, they're being sued by a former housekeeper Mercedes Wedaa. The woman, who identifies as Hispanic, claims she was subject to racial discrimination by Bezos's staff and also forced to work long hours in unsanitary conditions without rest or brakes, which led her and other housekeepers, she says in the suit, to develop urinary tract infections. Wedaa has worked for wealthy and high-profile families for 18 years with no issues, according to her lawyers. Meanwhile, lawyers representing Bezos's LLC say the claims have no merit.
Former CBS CEO Leslie Moonves and CBS owner Paramount reached a $30.5 million settlement with the Office of New York's Attorney General Letitia James. The state alleged that Moonves concealed multiple sexual assault allegations from regulators, shareholders, and the public for months. Moonves stepped down in 2018 following those allegations. Paramount will pay $28 million to the state, $22 million of which will go back to CBS shareholders, and $6 million to strengthen mechanisms for investigating sexual harassment claims. Moonves himself must pay $2 and 1/2 million, which will also go to CBS shareholders.