Despite the gains workers have made through the Covid pandemic in increasing flexibility in where they work, bigger workloads have meant that there is little slack in the system for people to take time out and recover. The effects are obvious. In 2020, 62% of people reported that they had experienced burnout “often” or “extremely often” in the previous three months, and in 2021, 67% of workers reported that stress and burnout had increased since the pandemic. Perhaps it is no surprise then that initiatives such as the four-day workweek, remote and hybrid working, unlimited paid time off, and right-to-disconnect have been gaining in popularity in an attempt to tackle these high-workload, always-on cultures. READ MORE
Musk threatens to walk away from Twitter deal
Elon Musk is threatening to walk away from his $44 billion bid to buy Twitter, accusing the company of refusing to give him information about its spam bot and fake accounts.
Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday, and Twitter disclosed it in a filing with the U.S. Securities and Exchange Commission. READ MORE
Elon Musk is ending remote work. Will other employers join him?
Elon Musk this week ordered his employees to return to the office full-time, asserting remote work is no longer acceptable—an ultimatum that industry insiders warn may have serious risks.
“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote. “Moreover, the office must be where your actual colleagues are located, not some remote pseudo office. If you don’t show up, we will assume you have resigned.” READ MORE
The world's biggest four-day work week pilot begins
Thousands of UK workers are starting a four-day work week from Monday with no cut to their pay in the largest trial of its kind.
The pilot, which will last for six months, involves 3,300 workers spanning 70 companies, ranging from providers of financial services to a fish-and-chip restaurant. READ MORE
The economy is going into the toilet. Let's hope no one flushes it!
JPMorgan Chase CEO Jamie Dimon says an economic hurricane is coming. Tesla's Elon Musk says he has a "super bad feeling" about a recession. Companies are downgrading their earnings forecasts. Oh, and we're in the midst of an energy and inflation crisis, and stocks have been flirting with a bear market. READ MORE
Which industries saw the biggest payroll gain last month?
Employers added 390,000 jobs in May, the Labor Department said in its monthly payroll report released Friday, beating the 328,000 jobs forecast by Refinitiv economists. The unemployment rate, meanwhile, held steady at 3.6%, the lowest level since February 2020. READ MORE
7 Brutal Truths About Leadership Not Too Many People Want to Hear
If you’ve ever experienced great leadership, you probably remember how that person -- your boss -- made you feel. Because true leadership, at its core, is a matter of the heart.
Poet and civil rights activist Maya Angelou famously stated, “People will forget what you said, people will forget what you did, but people will never forget how you made them feel.” READ MORE
Elon Musk is right to bring workers back to the office, wrong to suggest remote work is lazy
Elon Musk is like that favorite high school teacher: Half taskmaster, half curiously fun. You never know which version you’ll get on a given day.
The witty Tesla founder and potential Twitter owner just announced an ultimatum to his Tesla staff Tuesday: Return to the office to work or you’ve quit. According to emails, Musk requires car-company executives to work a minimum of 40 hours per week in office and exceptions would be made only for exceptional contributors on a case-by-case basis. READ MORE
When Is It Theft? Breaking Down the Eco Versus Pebble Startup Copycat Incident
If you didn't read Eco founder Andy Bromberg's Twitter thread last week accusing Pebble's cofounding team of the plagiarism of both Eco's marketing messaging and business model, along with a blow-by-blow accounting of what he called "lying and espionage" in attempts to surface Eco's intellectual property, you'd be forgiven - because it turned into a non-story.
What Bromberg alleges is shocking in almost every aspect, but the thread ends with a whimper, an "agree-to-disagree," with no further action to follow. READ MORE
US economy sees solid job growth in May as payrolls jump by 390,000
CEOs warn that US households are burning through savings at an alarming rate
The US economy has been mostly beating expectations for two years now, thanks in large part to consumers eagerly buying just about everything that companies could sell them.
Much of this spending was powered by an estimated $2.5 trillion in excess savings that households accumulated due to federal pandemic aid and higher wages at work. READ MORE
Retail markdowns could be coming as companies tackle excess inventory
A buildup of inventory across major retailers is cultivating a climate of markdowns, according to a new report.
It started happening at a time when "consumers began curtailing spending and shifting away from discretionary categories," according to a research note from the Telsey Advisory Group. READ MORE
Parler CEO warns tech layoffs are ‘just beginning’
Netflix, Robinhood, Carvana and Facebook parent Meta are joining the growing list of tech firms laying off employees or slowing hiring which Parler CEO George Farmer warned is "just beginning."
"The sector is feeling the effects of this interest rate rise and the end of free money," Farmer told FOX Business’ Maria Bartiromo on Thursday. "The free pay environment has sort of exacerbated the worst of the tech hiring, which has basically meant that companies are trading off ridiculous price-to-earnings ratios and have sort of exacerbated the overstaffing of these companies." READ MORE
White House trying to fight inflation is like having an ‘arsonist trying to shut out a fire
Former White House Council of Economic Advisers Chair Tomas Philipson slammed the Biden administration for their attempt to fight inflation, comparing it to an "arsonist trying to shut out a fire." READ MORE
Ford CEO says customers will pay 'tens of thousands of dollars' to sleep in their cars
Jim Farley knows time is money.
The Ford CEO sees a great profit opportunity in technology that will allow drivers to sleep in their cars. READ MORE
US Frontier Supercomputer Named Fastest in the World
How to Spot — and Develop — High-Potential Talent in Your Organization
Organizations struggle to identify their next-gen leaders, and for good reasons. When you don’t know what the future will bring, how do you figure out who has — or can acquire — the right strengths to meet those challenges? Which high potentials will give you the best return on your development efforts? READ MORE
Elon Musk says upcoming recession is 'actually a good thing
Tesla CEO Elon Musk, who has gained even more notoriety amid his purchase of Twitter and who has previously predicted an economic recession, claimed that the upcoming recession is "actually a good thing," a necessary "rude awakening" after a lax attitude from the COVID-19 pandemic. READ MORE
Small Businesses Are Starting to See Sales Slow--and That's Not Likely to Change
After months of shouldering increased costs, customers are pulling back.
That's according to small businesses surveyed in May by The Wall Street Journal. Some say that sales have decreased over the past few weeks--and the majority aren't optimistic about things getting better anytime soon. More than half (56 percent) of the 600 small businesses surveyed say that they expect economic conditions to worsen over the next year--up from 42 percent in April. READ MORE
These 'boomerang' employees went back to their old jobs. They tell us why
With the job market still going strong, millions of workers have switched jobs in the past year.
In March, a record 4.5 million people quit their jobs, according to the Labor Department, many of whom left to seek higher pay, better benefits and flexibility or new career opportunities. READ MORE
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