FEI Weekly

July 10, 2020

4 leadership books for your stayvaction and Harley-Davidson CFO to step down.

Harley-Davidson CFO to Step Down Amid Job Cuts

Market Watch

The motorcycle maker disclosed that it will cut about 14% of its workforce as part of a restructuring, and said CFO John Olin is stepping down, effective immediately, after 10 years in the role. Harley will record restructuring charges of $50 million through 2020, with about $42 million recorded in the second quarter. The company said it named Darrell Thomas, who has been treasurer at Harley for the past 10 years, as interim CFO, while it searches for a permanent replacement for Olin. 

Why We'll See a Rise in Layoffs Soon

CNBC

Out-of-work Americans filed 2.3 million new claims for unemployment benefits last week, according to Labor Department data issued Thursday. That includes about 1.3 million claims for traditional unemployment insurance and an additional 1 million through the new federal Pandemic Unemployment Assistance program for the self-employed, freelancers and other workers generally ineligible for standard state benefits. Though the trend has been improving in recent weeks, a spike in coronavirus infections around the country and extinguished federal aid risk more layoffs in the near future.

Frustrated By Your Company's Silence on Racial Injustice? Here's What You Can Do.

Glassdoor

Be transparent on who needs to step up in your organization to create some dialogue to spark change. Understand that there’s strength in numbers. Encourage and create community events to foster authentic communication and education. Finally, support your Black employees. If you aren’t Black, you can reach out to Black coworkers that you already have a relationship with and offer support in whichever ways are helpful (e.g., holding space for conversation or just acknowledging what’s currently going on.)

FASB Grants Reprieve to Beleaguered Insurance Industry

Accounting Today

The Board proposed a new accounting standards update (ASU) that would grant insurance companies an additional year to adopt the new long-duration accounting standard. For preparers opting for early adoption, the standard permits a single period to be restated, rather than two.

4 Leadership Books for Your Stayvaction

Forbes

Chill out with these great selections for your "staycation": "What You Do Is Who You Are: How to Create Your Business Culture" by Ben Horowitz, "Drive: The Surprising Truth About What Motivates Us" by Daniel Pink, "The Five Dysfunctions of a Team: A Leadership Fable" by Patrick Lencioni, and "Immunity to Change" by Robert Kegan and Lisa Lahey.