Connect with us

Published

on

Dollar General has agreed to cough up $42,500 to settle a lawsuit claiming a manager at a Georgia store fired a staffer “immediately” after finding out she was pregnant, and citing “health reasons” in her separation notice.

In September 2020, Calleigh Rutledge was working as a sales associate at a Dollar General in Baldwin, Ga., when she told the store manager that she was pregnant, according to a lawsuit filed by the Equal Employment Opportunity Commission in Georgia federal court last month.

“Immediately after learning of her pregnancy,” the manager said: “Since you are pregnant, you can no longer work here,” according to the EEOC, though Rutledge reportedly never requested maternity leave or suggested that she was unable to work during her employment.

Later that evening, the store manager called Rutledge to apologize for firing her, and said she would inquire about whether she could return to work for “light duty” at two hours per day the EEOC claimed in the court documents obtained by The Post.

The EEOC cited a text exchange between Rutledge and her manager, where the mother-to-be said she needed to work more than two hours per day in order to make enough money for her and her baby.

“Will that be safe? How many hrs are you thinking?” the manager replied, to which Rutledge said she wanted to keep her schedule the same throughout her pregnancy, the filing showed.

“Rutledge was never again placed on the work schedule,” according to the lawsuit, and just days after revealing her pregnancy, Rutledge received a separation notice stating her discharge was due to “health reasons.”

The EEOC shared that Dollar General agreed to settle the pregnancy discrimination lawsuit with $42,500 in a press release on Wednesday.

Of the sum, $29,750 will cover compensatory damages while $12,750 goes towards back pay damages.

It’s unclear if Rutledge sought to get her job back as a Dollar General cashier.

The federal agency also said Dollar General agreed to revise its anti-discrimination policies, provide annual training to its managers on Title VII — which protects employees from discrimination in the workplace — and allow the EEOC to monitor complaints of discrimination.

The EEOC declined to comment on pending litigation.

Representatives for Dollar General did not immediately respond to The Post’s request for comment.

The Tennessee-based discount chain hasn’t been having a good year so far.

Year-to-date, Dollar General’s share price has tanked nearly 60%, to $101.83, and it’s been getting slammed by retail theft and waning consumer demand.

The company warned Wall Street in August that its profits may plunge as much as 34% this fiscal year — compared to its previous forecast for an 8% decline — as it cut its full-year outlook for the second time.

Our revised guide is really a function of the slower transactions that were seeing, and higher expected shrink, Dollar General CFO Kelly Dilts said on a call with analysts after the company reported quarterly earnings that fell short of Wall Street estimates on Aug. 31.

The reference to shrink an industry term for stolen or damaged goods follows a troubling trend cited by other major retailers who have blamed the scourge of organized retail theft for impacting their bottom line.

Continue Reading

Politics

Crypto’s yield gap with TradFi narrows as staking, RWAs surge

Published

on

By

Crypto’s yield gap with TradFi narrows as staking, RWAs surge

Cryptocurrency-based yield products still lag far behind their traditional finance (TradFi) counterparts, but new blockchain sectors such as liquid staking tokens (LSTs) and real-world assets (RWAs) are steadily closing the gap, according to a new report co-authored by RedStone Oracles, Gauntlet, Stablewatch and the Tokenized Asset Coalition, shared with Cointelegraph.

Only 8% to 11% of cryptocurrencies offer passive yield-generating models, indicating a significant gap compared to 55% to 65% of TradFi assets, roughly a fivefold disparity, the report found. However, stablecoins, RWAs and “blue-chip” yield tokens are rapidly closing decentralized finance’s (DeFi) passive income gap.

Emerging regulations, such as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, passed in July, are helping the industry catch up, resulting in a rising demand for both yield-bearing stablecoins and RWAs, the report says. The GENIUS Act established clear rules for stablecoin collateralization and mandates compliance with Anti-Money Laundering laws.

“As clarity emerges, yield-bearing stablecoins are exploding: market capitalization is up 300% YoY, with new protocols launching monthly to capture the opportunity.”

RWAs, which are tokenized versions of traditional assets such as bonds or funds, are also introducing new sources of passive income as major institutions recognize the efficiency of onchain settlement.

Related: Sonic Labs pivots from speed to survival with business-first strategy

Ether and Solana LSTs gain traction

Blue-chip yield tokens, such as Ether (ETH) LSTs and Solana (SOL) LSTs, are also gaining traction by creating more capital efficiency for cryptocurrency stakers.

Ether Liquid Staking Tokens. Source: Redstone

ETH LSTs rose from six million to 16 million in the two years leading up to November, gaining $34 billion in notional value based on today’s prices.

LSTs, such as Lido’s stETH (STETH), offer crypto stakers an equivalent of the staked token, which can be traded or deployed in other DeFi protocols, thereby creating more capital efficiency.

Related: Bitcoin ETFs roar back with $524M inflows in best day since market crash

Crypto yield-bearing assets poised for “exponential growth” in the next months

Crypto yield-bearing assets are poised for “exponential growth” in the coming months and are set to benefit from the gap between DeFi and TradFi, according to the report, which called it “crypto’s greatest opportunity.”

“As the ‘Crypto-as-infrastructure’ thesis gains traction and onchain finance proves its superior capital efficiency, yield-generating crypto assets are positioned for exponential growth,” as institutional capital will seek more “efficiency,” it said.

Yield-generating tokens, such as Solana LSTs, are also gaining traction among institutions, as they can earn a passive yield of approximately 4% on top of their holdings.

SOL Liquid Staking Tokens. Source: RedStone

Much like Ether, Solana LSTs doubled in supply, from 20 million in January 2024 to about 40 million at the time of writing, with a total of 67% of the Solana token supply now locked in staking smart contracts.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight