The buyouts are here - CNN

With nearly 18 million people out of work in the US, it's not exactly the best time to be walking away from a job.

But thousands of workers are doing just that.

As sales and revenue streams dry up, some companies are making tough decisions to align their businesses with the current economic reality. For some, that means reducing their workforce through employee buyouts.

The voluntary severance packages differ, but usually include pay and benefits for a set period of time.

At American Airlines, 4,500 employees have agreed to leave the company, mostly for early retirement, reports CNN Business' Chris Isidore. At Boeing, 5,500 have taken buyouts.

And there's likely more coming.

For some workers, accepting a buyout can be a good deal. They might have already been thinking about retirement, considering switching careers, or have another income they can rely on.

Others are taking the buyout now over fears that eventually their departure won't be voluntary.

Read more about why some workers are accepting buyout offers here.

The ugly truth behind the jobs numbers

We got some good news last week: The economy added 4.8 million jobs in June.

Now here's the (very) bad news: For millions of unemployed people, the jobs they lost aren't coming back -- at least not anytime soon, reports CNN Business' Chris Isidore.

Last month's jobs gain set a record, but the bulk of the people who returned to work had been temporarily laid off from places like factories, stores, hotels, restaurants and bars that have started to reopen.

At the same time, however, 759,000 people were laid off from jobs that won't be coming back, bringing the total to 3.7 million unemployed Americans whose previous jobs are gone for good.

And experts warn this is just the beginning. Read the full story to learn more.

#BlackoutDay2020 is here

Today is #BlackOutDay2020 when many Black Americans vow to not spend any money in order to showcase their economic power.

"We need one day of solidarity in America where not one black person in America spends a dollar. This includes, Africans, Native Americans, Asian-Americans, Hispanics...ALL people of color," wrote social media personality and activist Calvin Martyr, on Facebook.

Those who have to buy something today are being encouraged to spend their money at a Black-owned business.

The objective is to force politicians and businesses to end institutionally racist policies and practices that have led to the deaths and marginalization of Black Americans, writes CNN Business' Chauncey Alcorn.

The movement could make quite an impact. Black Americans spent more than $1 trillion on consumer goods in 2018, up from $320 billion in 1990, according to Nielsen. And major companies, including Procter & Gamble and Cisco Systems, have expressed support for the initiative on social media.

Click here to read more about the call to action.

Kid or job? You gotta pick one

So here's a scenario that is haunting many working parents: Your child's school doesn't open for the upcoming school year. But your employer expects you to come back to the office.

Or here's another nightmare: Your previous childcare provider is no longer available and your employer is requesting you back at work. Or you can't continue to work from home anymore unless you find childcare. Or maybe you can continue working from home, but that means running ragged trying to be a full-time employee, parent and educator all at the same time.

Then what happens?

"In the Covid-19 economy, you're allowed only a kid or a job," writes Deb Perelman in the New York Times.

The current situation could force many working parents to make the tough decision to leave their jobs. And even if the break is only temporary, it can have long-term professional and financial impacts.

Yet, writes Perelman, no one is talking about this. Read the full story here.

Attention, Congress

Now that we've established that the situation for working parents is unsustainable, it's time to talk about potential solutions.

The federal government can take some steps now to make parents' lives a little bit easier, reports CNN's Katie Lobosco.

Funding childcare is a big one. Parents need a safe place for the kids while they go to work. But more than four million childcare spots could disappear without federal funding, according to the left-leaning Center for American Progress.

Giving additional funds to K-12 education so schools can safely reopen in the fall, as well as have the necessary equipment and supplies to support virtual learning, would also be a big help.

Check out the full story on the other ways Congress can help working parents survive the pandemic here.

Coffee break

Working from home with kids -- particularly young ones -- involves a lot of negotiation.

And my three-year-old son has quickly learned that work calls give him the upper hand. Want a snack? Sure! You want to put stickers everywhere? OK! Anything, as long as you're quiet.

Still, things don't always go as planned.

Check out this video of kids interrupting live TV interviews that is sure to make many working parents say: Been there!

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The buyouts are here - CNN
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