Target makes history with data breach settlement
Target Corp. has resolved its 2013 data breach with a deal that represents the largest multi-state data breach settlement in history.
The retailer agreed to pay a total of $18.5 million to settle the case. The money will go to 47 states and the District of Columbia, with California receiving the largest share of the settlement, more than $1.4 million.
The agreement also requires Target to develop, implement and maintain a comprehensive information security program aimed at encrypting and securing customer data. The retailer has already implemented these measures.
The massive breach occurred in late 2013, between November 27 and December 15. It affected more than 41 million customer payment card accounts and exposed contact information for more than 60 million customers.
In addition to causing Target to overhaul its security measures, the breach is largely seen as one of the elements that led to the exit of Gregg Steinhafel, Target's then-CEO and chairman, who resigned in May 2014.
“We’re pleased to bring this issue to a resolution for everyone involved,” stated Target spokeswoman Jenna Reck. "The costs associated with this settlement are already reflected in the data breach liability reserves that Target has previously recognized and disclosed.”
No comments found
Walmart in new pay policy for military workers
Walmart is stepping up its commitment to its workers who serve in the military by covering the difference when an employee's military salary is less than what the person makes working at the store.
The discounter said it is expanding its military leave of absence policy, offering differential pay to all eligible military associates taking on assignments lasting more than three days and through the duration of leave – including basic training, to cover the difference in pay any time an employee's military salary is less than what he or she makes working at the store.
The enhancements, which go into effect June 24, mean that if an associate’s military salary is less than what they were making at their job at Walmart, the company will pay them the difference while they are on a military leave of absence. In 2016, Walmart associates took more than 4,400 military leave of absences.
Walmart said it is one of the first major retailers to apply differential pay to include basic training, so associates who are considering enlisting in the armed forces can make that decision without fear of losing wages. In addition, Walmart is taking steps to streamline and simplify the internal process required to obtain differential pay with the goal of making it easier on associates and their families, so they can spend less time on paperwork and more time on their service.
“At Walmart, we’re turning jobs into fulfilling careers for veterans, active service members and their families, and we’re making it easier for them to work, live and serve,” said Retired Brigadier General Gary Profit, senior director of military programs for Walmart. “We believe that anyone who wants to serve in our Armed Forces should be able to do so without fear of losing wages or leaving their family in a lurch. The changes we’re making will remove financial barriers for all associates serving their country, including those who are starting their service journey through basic training.”
Walmart has hired more than 170,000 veterans since it announced its Veterans Welcome Home Commitment in May 2013, which guaranteed a job offer to any eligible, honorably discharged U.S. veteran who was within 12 months of active duty. Of those hires, more than 22,000 have been promoted to jobs with higher pay and greater responsibility, the chain said.
The initial goal of the initiative was to hire 100,000 veterans by the end of 2018. In May 2015, Walmart announced the expansion of that original projection, with the goal of hiring 250,000 veterans by the end of 2020. Walmart has also changed the eligibility from within 12 months of active duty, to any veteran who has been honorably discharged since the announcement of the program in May 2013.
Walmart is also announcing a $100,000 grant to the Tragedy Assistance Program For Survivors (TAPS), the national organization that offers help, hope and healing to all those grieving the death of a loved one serving in the Armed Forces. The grant will enable TAPS to reach more survivors through their casework and emergency assistance programs.
No comments found