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Wolters Kluwer (WTKWY) is a global leader in digital knowledge solutions and cloud software for tax, finance, accounting, and legal professionals. With offerings like the SAP Document and Reporting Compliance solution integrated with the CCH SureTax solution, Wolters Kluwer helps multinational companies manage U.S. tax filing obligations efficiently. The company serves customers in over 180 countries and reported 2022 annual revenues of €5.5 billion.
On June 30, 2021, Wolters Kluwer Legal & Regulatory U.S. announced that its U.S. COVID-19 Solution won the 2021 SIIA Business Technology CODiE Award for the Best Business Information or Data Delivery Solution. The initiative was launched to support legal professionals and the public during the pandemic, featuring a complimentary COVID-19 focus page and a Smart Chart tool. Wolters Kluwer is recognized for its commitment to delivering expert solutions with 2020 revenues of €4.6 billion. Shares are traded as ADRs on the OTC market (WTKWY).
Wolters Kluwer has appointed Bill Baker as its new Chief Human Resources Officer effective June 14, 2021. This decision follows the departure of Maryjo Charbonnier, who is pursuing other career opportunities. Bill Baker, who joined the company in 2013, previously served as Executive Vice President for Global Rewards & HR Service Delivery, playing a crucial role in HR transformation and analytics. CEO Nancy McKinstry emphasized Baker's leadership as pivotal for advancing the company's talent strategies, reinforcing the importance of a strong workforce for future success.
Wolters Kluwer announced the completion of its previously disclosed transaction combining certain Prosoft assets in Brazil with Alterdata. This was part of an agreement made on February 22, 2021, in exchange for a minority stake in the newly formed entity. In 2020, Prosoft generated revenues of €10 million and employed 210 people. Following the transaction, an unrealized foreign exchange loss of approximately €27 million was recognized due to the Brazilian real's devaluation against the euro. The company had reported annual revenues of €4.6 billion in 2020.
A study by the WHO and ILO highlights a significant health crisis linked to working long hours, indicating up to 745,000 annual deaths from stroke and ischemic heart disease among individuals working 55 hours or more weekly. Between 2000 to 2016, deaths due to heart disease rose by 42%, and stroke-related deaths grew by 19%. This data emphasizes the urgent need for corporate policy reevaluation and improved labor regulations, particularly for non-exempt employees in the U.S., as many currently lack adequate protections.
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