The supermarket chain’s board of directors has approved issuing non-qualified stock options and retention agreements to CEO Craig Herkert, Chief Financial Officer Sherry Smith, and Executive Vice Presidents Janel Haugarth and Andrew Herring; the options and retention payments vest over time.
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The move will not result in any job reductions in the Twin Cities, and the firm intends to hire between 300 and 500 new employees in Chicago.
The company is reportedly retooling its Geek Squad team as it shifts employees away from basic home installations to focus on services for small businesses and on providing technology expertise at Best Buy’s smaller, “connected”-format stores.
Prepare to be surprised.
Supervalu’s stock price plummeted as the company announced poor first-quarter results and said it has hired financial advisors to help it review “strategic alternatives.”
The board also voted in favor of eliminating so-called “administrative transitional leaves”—high-paying leaves that were offered to university executives who were stepping down from their administrative roles but staying on as faculty members.
Some high-profile projects—like the proposed St. Paul Saints ballpark and the Southwest Corridor light-rail line—previously announced plans to seek a share of the state funding, but 90 applications have now been filed.
The cuts, which include roughly 600 Geek Squad positions, are in addition to 400 corporate layoffs announced in March.
UnitedHealth Group plans to hire 115 employees for a call center in Chico, California—continuing a recent hiring streak through which it is already adding more than 2,000 jobs in Colorado and Texas.
The job cuts come at a time when Xata—which provides fleet-management software for trucking companies—is moving away from onboard systems and toward the use of mobile devices.
Reentry Connect, a collaboration between Twin Cities Rise! and RS Eden, will use the funding to provide work force development assistance to previously incarcerated women.
A company spokesman said that the cuts, which will be implemented “over the next several weeks,” are part of a restructuring of the grocer’s marketing team.
UnitedHealth Group on Tuesday announced plans to hire 1,500 employees to staff four Texas locations.
Some of the hospital system’s inpatient nursing units will grow and some will shrink as part of a “rebalancing” act that aims to ensure that each shift is at the optimal staffing level—but the reorganization is predicted to result in a net gain of 40 to 50 positions.
About a week after Farley’s & Sathers completed its merger with Ferrara Pan Candy Company, the combined business announced plans to shutter facilities in Minnesota and Tennessee, resulting in an unspecified number of layoffs.
Almost half, or 48 percent, of those surveyed expect a revenue boost, and 40 percent expect profits to rise over the next year; meanwhile, one-third of respondents expect revenue and profits to remain flat.
The state added government, manufacturing, and construction jobs in May while shedding jobs in the professional and business services, information, and leisure and hospitality sectors.
The 3.5 percent tuition increase for undergraduate Minnesota residents will be the lowest year-over-year hike in more than a decade; the budget for the 2012-2013 school year also calls for a 4.8 percent resident tuition increase for daytime MBA students.