U.S. Labor Secretary on ‘Phase 4’ Relief Program: Let’s keep our eyes open

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 7 April 2020

⏱️ 24 minutes

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Summary

The CEO of Slack, the internal messaging service now keeping thousands of office teams connected during worldwide shelter-in-place orders, discusses staying connected with colleagues and growing his own business. U.S. Department of Labor Secretary Eugene Scalia believes the current small business relief legislation is running well, but admits that it may not be perfect. He weighs in on the possibility of a “Phase 4” federal pandemic relief program. Robert Garrett, CEO of Hackensack Meridian Health, New Jersey’s largest health network, discusses next steps in the battle against the Covid-19 pandemic.

Transcript

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0:00.0	This is Quack-Pod. I'm C. M.
0:03.4	C. C. C. C. C. Cramer, today on our podcast, Labor Secretary Eugene Scalia on the American
0:08.7	workforce in crisis.
0:10.1	I think a lot of the protections that you'd want workers to have are in place.
0:15.0	They're either up and running or they're about to be launched.
0:18.0	Many of the employees who are still working are doing so from home, which means, counterintuitively,
0:23.6	a lot of them are slacking.
0:24.8	CEO of the messaging app Slack on his platform in a pandemic.
0:28.6	Even as the, you know, have this surge in new users,
0:32.0	the average utilization per user is also massively
0:35.2	increasing and the CEO of New Jersey's largest health network on what's to
0:39.8	come in the battle against COVID-19. We're holding our own.
0:43.0	We're certainly encouraged that there seems to be a little bit of early light at the end of the tunnel.
0:48.0	It's Tuesday, April 7th, 2020,
0:51.0	Squawk Pod begins right now.
0:54.0	Good morning everybody. I'm Becky Quick along with Joe
0:56.4	Vernon and Andrew Ross Sorkin.
0:58.0	First up today on the podcast, Jobs on America's Main Street, many of the 10 million plus workers
1:04.9	who have newly filed for unemployment benefits in the last few weeks worked at small businesses.
1:09.8	350 billion dollars from the government's $2 trillion
1:12.9	coronavirus relief package have been dedicated to the paycheck
1:16.2	protection program for businesses with 500 employees or fewer.
	...

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