Law and the Workplace

Tag Archives: financial services

[Podcast]: Reduction in Force (RIFs) Trends in the Financial Services Industry

By Patrick Lamparello and Steven Hurd on Posted in The Proskauer Brief Podcast, Workplace Restructuring and WARN
In this episode of the Proskauer Brief, partners Steven Hurd and Patrick Lamparello discuss recent trends in reductions in force (RIFs) in financial services and some of the main reasons employers are engaging in them. These include automation of jobs or other technological developments, cost reductions, investor preferences, employee redistributions, and even Brexit has been … Continue Reading

Sixth Circuit: Loan Underwriters Not Entitled to Overtime Pay

By Allan Bloom on Posted in Wage and Hour
On March 2, 2016, the U.S. Court of Appeals for the Sixth Circuit held that residential loan underwriters of Huntington National Bank are administrative employees under the FLSA and therefore not entitled to overtime pay.  The primary duty of an underwriter is to decide whether or not a customer qualifies for a desired loan, relying on an initial recommendation generated by … Continue Reading
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