A blogging economist at Businessweek wrote a post not too long ago asking readers “Is Overtime Necessary?” The economist claims that according to BW’s cover story, Wage Wars, companies have paid out more than $1 billion per year to settle “wage and hour” overtime pay lawsuits. The precise question posed is “Should the overtime laws […]
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CNN Money.com | Fortune Small Business reports that the number of small businesses facing overtime pay law suits has exploded since 2004, when the U.S. Department of Labor revised the Fair Labor Standards Act (“FLSA”) to clarify which workers are exempt from overtime laws. In 2006 the department collected $172 million in back wages from […]
In 2004, new overtime rules by the U.S. Department of Labor took effect regarding when and how employers making more than $500,000 in revenue must pay their employees for overtime work. The new overtime rules are mostly bad news for employees, according to Steve Strauss, a lawyer, author and speaker, in his USA Today article […]