GM strike talks 'take turn for worse,' HSBC may cut up to 10,000 jobs, and more top news

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General Motors and UAW are still trying to negotiate a proposal to end the ongoing workers' strike, but talks between the two have "taken a turn for the worse," says UAW Vice President Terry Dittes, with the automaker's most recent proposal offering little change from the last one that was rejected. With the strike entering its fourth week, GM has lost over $1 billion in earnings, according to Bloomberg, and the subsequent layoffs and weakened manufacturing sector have stoked fears of a looming recession. ? Here’s what people are saying. 

HSBC has initiated a significant cost-cutting drive that imperils up to 10,000 jobs, The Financial Times reports, citing anonymous sources. The lender's new interim chief executive Noel Quinn is seeking to “rein in costs” as the lender says it is buffeted by low interest rates, global trade disputes and the ambiguity created by Brexit. The job cuts, which come on top of 4,700 redundancies that were previously announced, will focus primarily on “high-paid roles,” and follow tens of thousands of job cuts from a cluster of global banks as they eliminate significant swathes of their workforce. ? Here’s what people are saying. 

The Sackler family, which owns and controls Purdue Pharma, reaped up to $13 billion in profits from the OxyContin-maker, according to court documents. The amount is considerably larger than the $4 billion they were previously alleged to have taken out of Purdue, and the $3 billion they pledged toward resolving the various lawsuits alleging they are at fault in America's opioid crisis. Purdue filed for Chapter 11 bankruptcy protection last month, and prosecutors claim the Sacklers "should not be allowed to use the filing to shield their assets.” ? Here’s what people are saying. 

Hot-desking: Think of it as desk-surfing, but no longer just for interns or temporary hires. As more and more businesses hire freelance workers and contractors, the hot-desking trend has picked up steam. But is it really the money-saver it was intended to be? A recent survey revealed those in hot-desking offices took about 18 minutes to find a seat. In other words, 66 hours a year of wasted time. Not to mention, it isn't very popular with workers — a survey by Workplace Unlimited found hot-desking was ranked fifth out of six varying office designs. ? Here’s what people are saying.

If you're a working parent, you may have been forced at times in your career to skip important conferences due to a lack of child care. The good news is, the tides may be turning, though slowly. Conference organizers in various industries are starting to come around to the idea that they’re missing something if parents are unable to attend. The trend, according to Quartz, is most poignant in science, technology, engineering, and maths, likely because those fields are trying to come up with creative ways to increase female participation. ? Here’s what people are saying. 

Idea of the Day: Take initiative and some risks, advises make-up guru Bobbi Brown, founder of Bobbi Brown Cosmetics.

"We risk failing by being afraid to do things out of our comfort zone. The fear of being embarrassed, or embarrassing ourselves... Only by being fearless, and doing scary things, can we grow and advance."

What's your take on today’s stories? Share your thoughts in the comments.

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