Chipotle to Pay NYC Workers $20 Million đź’°
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Here’s what’s happening:
- Spotify is reorganizing its app
- Chipotle to Pay $20M to NYC Workers
- Crypto bank Nuri files for insolvency
- Boulevard gets Series C funding
Spotify is Reorganizing Its App Design to Splits up Music 🎶 And Podcasts 🎙
Audio streaming platform Spotify is working on a new design for its home tab to create separate feeds for your music and podcasts.
But why? Isn’t the current app design good?
Spotify says it’s part of an effort to give users more and better recommendations.
In addition, the redesign will also address a common criticism of the Spotify experience, where users find it challenging to figure out different types of audio.
The feature will show two new buttons at the top of the screen: one for Music and one for Podcasts & Shows.
The update will look useful for podcast listeners since it turns Spotify into something much closer to an actual podcast app.
Sounds interesting, right?
When is the company rolling out the update?
Spotify is initially introducing the new home feed feature for Android users and will gradually roll it out to iOS users soon.
Chipotle to Pay NYC Workers $20 Million đź’°
Oh, no! What just happened?
Fast-food chain Chipotle Mexican Grill will pay NYC workers $20 million as part of a settlement.
Let’s recap:
- An investigation was initiated after Chipotle employees and the 32BJ Service Employees International Union filed complaints against the company.
- The investigation found that Chipotle failed to give employees their schedules 14 days in advance, which required them to work extra time without advance written consent, among other violations that overworked employees.
- These violations fall under New York City’s Paid Safe and Sick Leave Law, which went into effect in 2014, and its Fair Workweek Law, which went into effect in November 2017.
- The settlement between the city and Chipotle covers about 13,000 employees who worked at the chain’s New York City outlets between November 26, 2017, and April 30, 2022.
What will the workers get? 🤔
Under the settlement, hourly employees of Chipotle in New York City will receive $50 for each week they worked during that period.
German 🇩🇪 Crypto Bank Nuri Files For Insolvency
German crypto-focused digital bank Nuri has filed for insolvency with a Berlin court, weeks after it said it would lay off 20% of its workforce (about 45 employees) in a drive to reach profitability.
Why did Nuri file for insolvency?
The company said the sell-off in the cryptocurrency market đź”˝, the bankruptcy of the Celsius network, and uncertainty in financial markets forced it to take the step.
What does this mean for users?
Despite the insolvency filing, Nuri’s customers would still have full access to their current accounts as well as their crypto wallets and vaults (bitcoin & ether) and can continue to withdraw funds.
Response from the company: “We are confident that the temporary insolvency proceedings offer the best basis for developing a viable long-term restructuring concept in the company’s current situation.”
“We will do everything in our power to ensure our vision, products, and services continue to serve you and future customers,” the company added.
Boulevard Raises $70 Million in Series C Funding đź’°
This modern appointment scheduling software platform has raised $70 million in its Series C funding round.
Who participated in the funding round?
The funding was led by Point72 Private Investments, along with participation from Toba Capital, Index Ventures, Bonfire Ventures, BoxGroup, and VMG Partners.
How will the funding help Boulevard?
Boulevard will use the funds to expand its engineering and product teams and build more tools aimed at an increasingly broad set of users in the larger wellness and beauty sector.
About Boulevard
Founded in 2016 by Matthew Danna and Sean Stavropoulos, Boulevard is a business management platform developed to help streamline the operations of appointment-based businesses.
The company serves the needs of self-care businesses of all sizes — single or multi-location entrepreneurs, enterprise customers, and modern franchises ready to make their mark.
Boulevard now processes more than $1 billion in payments annually, and more than 25,000 professionals in 2,000 salons and spas across the nation rely on its platform for the services.
That’s a wrap for today, ladies & gents. See ya next week!
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