'California To Change Labor Law That Cost Businesses $10 Billion' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
California's largest business and labor groups have agreed to amend the Private Attorneys General Act (PAGA), a law that has enabled workers to sue companies like Walmart, Uber, and Google for workplace violations. This change follows years of efforts by employers to reduce the financial impact of PAGA, which has reportedly cost businesses $10 billion over the past decade.
June 18, 2024 | 6:41 pm
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POSITIVE IMPACT
Google may benefit from reduced legal liabilities and costs following the amendment of California's PAGA law.
The changes to PAGA are likely to result in fewer lawsuits against Google, reducing its legal expenses and potentially boosting its financials.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Uber may experience a decrease in legal expenses and liabilities with the changes to California's PAGA law.
The reduction in lawsuits due to the PAGA amendment is expected to lower Uber's legal costs, which could improve its financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Walmart may see a reduction in legal costs and liabilities due to the amendment of California's PAGA law.
The amendment of PAGA is likely to reduce the number of lawsuits and associated costs for Walmart, positively impacting its financials.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80