“A challenging period.”
That’s how Mark Zuckerberg described in a memo what the near future will be like for Meta employees after he announced the once-impervious social media company will cut another 10,000 jobs in the months ahead. READ MORE
'Mr. Wonderful' torches 'idiot' bankers, says feds' SVB response 'nationalized the banking system'
Canadian-American investor Kevin O'Leary called out the "idiot bank managers" who led Silicon Valley Bank to its demise, further adding that the federal government's response to the collapse unwisely "nationalized" the banking system.
O'Leary, well-known by his "Mr. Wonderful" nickname coined on "Shark Tank" by fellow investor Barbara Corcoran, told "Hannity" that he however doesn't like playing politics, especially in terms of finance. READ MORE
Silicon Valley Bank had more red flags than a CCP meeting
Despite skeins of bank regulations supposed to prevent another financial meltdown, Silicon Valley Bank, the country’s 17th-biggest bank, went down in flames last week. It was the second-biggest bank failure in U.S. history and has prompted a lot of finger-pointing. READ MORE
How to spark a revolution in company culture that’ll boost employee retention
No matter how much the landscape of work changes, an inclusive workplace culture will always be vital. Workplace culture is defined by a combination of things from the values of employees to the ways that leaders shape actions to run the business. Although culture is often intangible, it’s a core tool to empower employees to be productive and inspired. READ MORE
US fighting a remote work ‘tug of war’ as employees look for ‘compromise,’ expert says
With more than 40 million U.S. workers expecting to do their jobs fully remote by 2025, one labor expert warned that a "tug of war" between businesses and employees to make the transition could add extra stress to the market.
"We've got this kind of interesting tug of war that's happening right now between workers and the employers," RedBalloon CEO Andrew Crapuchettes said on "Varney & Co." Friday, "because the employers want people in the office, and workers, we learned through the pandemic that, hey, you can be productive for a little bit when you work at home." READ MORE
Home Depot founder schools Fed, Biden over the 'tragedy' that comes with inflation
Billionaire investor, philanthropist and business leader Ken Langone called out the Federal Reserve under President Biden for not acting on raging inflation that’s hurting average Americans most.
"Let me say this to you about Joe Biden, in my opinion, and I'm going to be very, very direct: he thinks he's the smartest guy in the room," Langone said on "Mornings with Maria" Wednesday. "If that's the case, we're really in trouble, because the American people are a lot smarter than that." READ MORE
Silicon Valley Bank touts Forbes 'best bank' nod days before becoming largest failure since Great Recession
It's a remarkable show of how fickle fortune can be, all captured in a tweet.
"Proud to be on @Forbes' annual ranking of America's Best Banks for the 5th straight year and to have also been named to the publication's inaugural Financial All-Stars list," SVB tweeted Monday. READ MORE
Proximity matters at work. What does that mean for the future of remote work?
Despite corporate America’s efforts to create inclusive work environments, leaders across the globe say proximity bias is likely real, according to a 2023 Future of Working and Learning Report READ MORE
The four-day work week: Is it for real?
No doubt you’ve read many of the stories in the business press about the studies going on in the U.K. and other countries where employers agreed to switch to a four-day work week—and it is going really well. Is there a reason to think this is the wave of the future? READ MORE
A Do-Nothing Day Makes Life Better
“A few years ago, my wife, Angie, and I made a pact,” Jason Heller writes in The Atlantic. “Every Sunday, we swore to each other, we will abstain from work. And we kept our promise: On the second day of each weekend, we start our morning and end our night by bingeing TV in bed. In the middle of the day, we binge TV on the couch, taking breaks exclusively to nap or read.” The anxiety of looming to-do lists sometimes creeps in, but “we fight to stay still,” he writes. READ MORE
‘Bare minimum Mondays’ are more than they appear to be
My relationship with TikTok is analogous to my relationship with church. I tend only to visit when invited by a third party, and while I’m not convinced its effects are ubiquitously positive, I’m glad it offers at least some participants comfort during their darker moments. READ MORE
People are over the 40-hour workweek: ‘We don’t want to waste our time’
Between 2019 and 2022, the number of hours people spent working in the U.S. fell by the equivalent of 33 fewer hours a year per person, according to the National Bureau of Economic Research.
The Covid-19 pandemic didn’t just disrupt where and how we show up to our jobs: It has led people to question when and why they should be working in the first place. READ MORE
US labor market stays resilient; Q4 labor costs revised higher
The number of Americans filing new claims for unemployment benefits fell again last week, pointing to sustained labor market strength and adding to financial market fears that the Federal Reserve could keep hiking interest rates for longer.
Those worries were further heightened by another report from the Labor Department on Thursday showing labor costs grew much faster than previously estimated in the fourth quarter. The labor market remains tight despite rising risks of a recession, contributing to keeping inflation elevated via solid wage gains. READ MORE
Work-From-Home Regulations Are Coming. Companies Aren’t Ready.
Debates over the trade-offs of remote work arrangements have tended to focus on challenges related to maintaining worker productivity, building company culture, and upholding boundaries between work and home. Now, employers are faced with an additional challenge: complying with a growing set of regulatory frameworks governing remote work. READ MORE
America's low labor participation rate 'a social and economic disaster,' experts warn
By now it's common knowledge that the U.S. saw an unprecedented drop in labor participation at the onset of the COVID-19 pandemic in 2020 as health concerns, lockdowns and stimulus payments caused tens of millions to abandon or forfeit their jobs.
But three years later, millions still haven't returned – including many who quit in the middle of their prime working years – and some economists are sounding the alarm that so many capable, would-be earners remain out of the workforce. READ MORE
Car salespeople are replaced with AI as digital showrooms hit the metaverse
KIA and Fiat have introduced digital metaverse dealer showrooms so customers can more easily shop for cars from the comfort of their homes.
The two auto manufacturers are among the first organizations to justify the sales platform's use within their businesses. READ MORE
Big Tech's latest shady bid aims to squash its smaller rivals
Big Tech lawyers are riding high. A Delaware judge recently delivered a lengthy memo trampling the American justice system and supporting Big Tech’s longstanding efforts to crush smaller entrepreneurs.
Chief Judge Colm Connolly of the U.S. District Court of Delaware bit hook, line, and sinker on an absurd argument that the biggest and richest technology companies have been peddling for decades. READ MORE
Increasingly the Driving Force Behind Corporate Performance
In the past 45 years, intangible assets have steadily and quickly replaced physical capital as the most valuable asset class (see graphic 1). Employees are the stewards of these intangible assets as they bring the unique experience, knowledge, networks, and know-how that are voluntarily shared or withheld and codified in company culture. Indeed, the various drivers of culture, including leadership, policies, decision rights, organizational design, people development, and relevancy, determine the extent to which employees share or horde these intangible assets. And, since the decision to do so unfolds, employee-by-employee, on a continuous basis, culture’s contribution to company performance in the intangible economy has markedly grown. READ MORE
Top 10 Crooked CEOs
Bernie Madoff, who is scheduled to be sentenced June 29 for perpetrating history's biggest Ponzi scheme, is just be the latest in a long line of industry titans turned crooks READ MORE
Companies can no longer silence laid-off employees in exchange for severance
If your company lays you off, your employer might offer you severance pay — but only if you agree to adhere to a number of restrictions.
Staying quiet is often one of them. READ MORE