Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Report: 165k people took another job ahead of the holidays
The hottest inflation in four decades is pushing more Americans to take on a side hustle ahead of the holiday season.
Last month, the number of Americans with a side gig jumped by 165,000, government data shows. That’s the largest increase since June and well above the 60,000 monthly average over the past six months.
More than 40% of Gen Z to rely on family to pay for trips back home
About half the members of Generation Z say they plan to travel home this holiday season — but many will rely on their parents to pick up the tab, as airfares are up roughly 40% from the same time last year.
Credit Karma reports that 41% of Gen Z will rely on their parents or family members to pay for their travel.
Report: Retailers adding more self-checkout stations
Retailers are adding more self-checkout stands for a variety of reasons, including labor savings, customer demand, and improvements to technology.
Labor is one of the largest expenses for stores, and they are trying to save money as costs rise and more shoppers buy online. Self-checkout transfers the work of paid employees to unpaid customers.
However, according to a survey conducted last year, 67% of shoppers said they’d experienced a failure at a self-checkout lane. Retailers have also reported an uptick in shoplifting as it’s easier to steal items from an unmanned checkout.
Pepsi plans to lay off hundreds of workers
Pepsi has announced plans to cut hundreds of jobs in North America, a sign that job cuts are extending beyond tech and media.
In a memo sent to staff that was viewed by “The Wall Street Journal,” Pepsico told employees that the layoffs were intended “to simplify the organization so we can operate more efficiently.”
General Mills and IHOP to create TikTok-inspired cereal
General Mills and IHOP are teaming up to bring a viral TikTok trend to life in their new brand of cereal, “IHOP Mini Pancake Cereal: Blueberry & Syrup.”
What started in April 2020 as a video portraying Sydney Melhoff pouring milk into a bowl of tiny pancakes soon inspired the trend #pancakecereal with other TikTokkers.