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As industry-wide layoffs hit bigger tech names, some Google workers worry they’re next.
While Google has so far avoided the widespread job cuts that have hit tech companies, particularly those supported by a slumping ad market, internal anxiety is on the rise, according to documents viewed by CNBC and employees who spoke on the condition of anonymity. READ MORE
Much of Twitter’s ad sales team has been fired or pushed out. Large companies from General Mills to Macy’s have paused advertising on the platform, with more potentially following suit after new owner Elon Musk’s decision to restore the account of former President Donald Trump and other controversial figures. And any cursory scroll of the platform will likely show you fewer big brand ads. READ MORE
For the first time, the FDA has approved a startup to sell (gulp) lab-grown meat for human consumption. Upside Foods, which makes cell-cultured chicken, can sell its products once they are approved by the U.S. Department of Agriculture. READ MORE
Positions that allow remote work continue their upward incline: According to data from Ladders, a career site for positions that pay $100,000 or more, 36% of all professional jobs are now remote. That’s a huge jump over the past couple of years. Prior to the pandemic, only about 4% of high-paying jobs were available remotely. By the end of 2021, that jumped to 18% and now, at the end of 2022, that number has doubled. READ MORE
Sinking stock prices and a change in proxy-voting rules are emboldening many first-time shareholder activists to seek changes at some of the biggest names in American corporations.
Companies, always wary of activist advances, are feeling particularly vulnerable as a result of new rules imposed by U.S. regulators in September requiring the use of a so-called universal proxy card in corporate-director elections, bankers and lawyers say. READ MORE
Soon after a sweeping courtroom victory in 2018 cleared the way for AT&T’s $100 billion takeover of Time Warner, John Stankey, AT&T’s chief operating officer and the newly anointed chief executive of Warner Media, summoned his top Warner Media executives to a meeting at the Time Warner Center off Columbus Circle. READ MORE
U.S. tech industry layoffs have accelerated over the last couple of months, but the industry is still in a strong position to weather a recession.
During the first week of November, at least 6,473 tech workers in the U.S. were laid off, by our tally — a more than 600% increase from the 910 who lost their jobs the week before. Last week, there were more than 7,000 reported U.S. tech sector layoffs. READ MORE
Higher wages get harder for business owners to offer as inflation increases as a margin pressure amid a lower sales outlook, but there are other work benefits and perks that can be used to attract talent. READ MORE
A cooling economy, rising mortgage rates and mass layoffs have done little to dampen executive demand for expanded office presence and increased flexibility for office workers, a new report from Ernst and Young found. READ MORE
U.S. retail sales increased more than expected in October as households stepped up purchases of motor vehicles and a range of other goods, suggesting consumer spending picked up early in the fourth quarter, which could help to support the economy. READ MORE
Despite a surprisingly resilient labor market, talk of an economic downturn is on the lips of corporate leaders.
James S. Tisch, the chief executive of the hotel, insurance and industrial conglomerate Loews Corporation, said on an earnings call with analysts last week that his “fearless forecast” was for recession, but not one that would be as “cataclysmic as ’08 or ’09.” READ MORE
Over half of executives surveyed said U.S. House and Senate control flipping to Republicans would have positive effects on the business environment. READ MORE
The US economy added 261,000 jobs in October and the unemployment rate rose to 3.7%, according to the latest monthly employment snapshot from the Bureau of Labor Statistics released Friday morning. READ MORE
Despite a stock-market bounce in October that gave the Dow its biggest monthly gain in more than 45 years, economists are warning that there’s a very real danger of recession in the United States. Mortgage rates are at their highest levels since 2002, consumer spending and business investment is falling and the Federal Reserve is fighting persistent inflation with higher interest rates. READ MORE
Over the last few months, the workplace trend "quiet quitting" has taken social media by storm.
The term refers to employees who do the bare minimum in their jobs. They refrain from putting in any extra effort and instead place their own interests above those of their employer. READ MORE
The pandemic changed the way U.S. employees work — and by now, many of them have fully embraced remote and hybrid models.
But the era of flexible work might be coming to an end, per LinkedIn data reported by CNBC. In the U.S., the number of postings for remote roles has plummeted by five percentage points since April, when they hit a record high of 20%. READ MORE
Forecasts of a recession are increasing as economists and financial market analysts assess an economic contraction during the first six months of 2022 and a pledge by Fed policymakers to further increase borrowing costs this year. Read More
The percentage of small business owners who expect their revenues to increase in the next 12 months has risen slightly from earlier this year despite ongoing economic concerns, according to a report released Wednesday by Bank of America. READ MORE
Billionaire Elon Musk revealed Tuesday that his decision to buy Twitter for $44 billion is ultimately "an accelerant to creating X, the everything app." READ MORE
When Parag Agrawal took over as Twitter’s CEO last November following co-founder Jack Dorsey’s surprise resignation from the role, he was little known outside the company.
Ten months later, Agrawal has featured prominently in a whistleblower disclosure, been rebuked by name in a Congressional hearing and fielded criticism from the world’s richest man (and his possible future boss) both publicly and privately. READ MORE