Whether or not the global economy sinks into recession in 2023, employers are acting like it will. News of hiring freezes, double-digit layoffs in tech and mediaOpen in a new tab and daily recession mongering suggest two things are coming: the need to position companies to be agile amid the uncertainty; and the opportunity to engage some of the best talent available. READ MORE
Managers, Stop Distracting Your Employees
It’s no secret companies spy on their staff.
A recent New York Times article stated that eight of the 10 largest American companies surveil their employees with tracking software. According to The Washington Post, global demand for employee monitoring tools increased by 65% from 2019 to 2022. READ MORE
Layoffs signal labor market recalibration
Recent layoffs may signal a recalibration of the U.S. labor market.
Microsoft confirmed Wednesday it would lay off 10,000 workers, which it said in an SEC filing were "in response to macroeconomic conditions and changing customer priorities."
E-commerce giant Amazon also started slashing its headcount by 18,000 on Wednesday. In a Jan. 4 blog post about the layoffs, CEO Andy Jassy pointed to the "uncertain economy" as well as the company having "hired rapidly over the last several years." READ MORE
Disney can imagine a magic kingdom but can't figure out innovative hybrid and remote work
Disney, Apple, Google, and other companies mandating that employees work in the office for most or all of their time claim that any time spent working remotely stifles innovation. According to Apple CEO Tim Cook, "Innovation isn’t always a planned activity. It’s bumping into each other over the course of the day and advancing an idea that you just had. And you really need to be together to do that." READ MORE
JPMorgan Chase wants to disrupt the rent check with its payments platform for landlords and tenants
JPMorgan Chase is betting that landlords and tenants are finally ready to ditch paper checks and embrace digital payments.
The bank is piloting a platform it created for property owners and managers that automates the invoicing and receipt of online rent payments, according to Sam Yen, chief innovation officer of JPMorgan’s commercial banking division. READ MORE
US Chamber CEO says businesses are 'fed up' with Washington
U.S. Chamber of Commerce CEO Suzanne Clark delivered an address at the State of American Business 2023 forum in which she criticized the federal government for being ineffective and hampering private sector success through excessive regulation. READ MORE
The 8 ‘rarest’ types of employees—they ‘simply outperform everyone else,’
Your strengths are the foundation of your brand, and owning them is the key to making a mark in your professional life.
As a career and branding expert who has consulted CEOs and big companies like Google and Microsoft, I help people discover what differentiates them from their competitors. READ MORE
What to expect at work this year
The pandemic has transformed work over the past three years in ways few expected. It normalized remote work, created a shortage of critical workers and drove home to organizations that employees’ mental health and need for a sane work-life balance are critical to retention and engagement.
So what does 2023 likely hold for you at your job, regardless of your industry? READ MORE
Auto sales are falling — but profits are surging. Welcome to the new normal
The US auto industry just posted its worst sales in more than a decade — but that’s not necessarily a bad sign for the sector.
What’s happening: 2022 was the worst year in more than a decade for the auto industry, largely because manufacturers couldn’t keep up with consumer demand. READ MORE
Elon Musk’s Tesla hype machine breaks down
For years, Elon Musk paid zero dollars for traditional advertising while almost singlehandedly keeping Tesla — and himself — front and center. With a never-ending stream of tweets, television and podcast appearances and livestreamed product events, the electric-vehicle maker and its billionaire CEO dominated news cycles and occasionally went viral.
Musk was a veritable hype machine, and his knack for breaking through meant that when Tesla managed to execute, its valuation soared to a stratosphere no automaker had ever come close to reaching. READ MORE
LinkedIn is having a moment thanks to a wave of layoffs
In a normal year at this time, a typical LinkedIn feed might be full of posts about year-end reflections on leadership and professional goals and suggested lifehacks for the year ahead — possibly with a few posts from CMOs offering tips on brand strategy, for good measure.
Those posts are still there. But mixed in are many others about job hunts, offers of support for laid off friends and colleagues, and advice for coping with career hurdles in an uncertain economic environment. READ MORE
Concerns over a 'white collar recession' grow
Concerns about a "white collar recession" grew Tuesday after Goldman Sachs began to lay off workers as part of a plan to cut 3,200 jobs in an effort to cut costs.
Goldman Sachs is just the latest firm to reduce its size in recent months. Morgan Stanley announced that it would cut two percent of its staff in December, Amazon plans to cut over 18,000 jobs, and Salesforce announced it would cut ten percent of its workforce and close some offices last week. READ MORE
JP Morgan CEO Jamie Dimon reveals his economic outlook
Despite the current uncertain economic environment, JPMorgan Chase CEO Jamie Dimon is still optimistic about the American consumer.
"The consumer is still strong," he told FOX Business' Maria Bartiromo on Tuesday in an interview on "Mornings with Maria." "Their balance sheets are in good shape. They’re spending 10% more than pre-COVID. They have more in their checking account companies that are in good shape, and that’s driving a strong economy." READ MORE
Disney CEO orders hybrid employees back to the office four days per week
Hybrid employees at The Walt Disney Company will soon have to work in-person four days per week, CEO Bob Iger said in a Monday email.
Iger’s email, obtained by FOX Business, informed Disney employees of the policy change going into effect March 1. At that time, those "currently working in a hybrid fashion will be asked to spend four days a week on-site, targeting Monday through Thursday as in-person workdays," according to the email. READ MORE
A timeline for startup M&A processes: Key steps and factors to consider
I have recently been a part of a few M&A processes at companies I work closely with. These transactions involved private companies selling to larger companies (public and private) and were all-cash transactions.
This inspired me to chronicle best practices and considerations for founders who are selling their company. In doing so, I hope that founders take away at least one useful insight. READ MORE
Cigars and Cry Rooms: Meet Elon Musk’s New ‘Cutthroat’ Twitter VP
Before Elon Musk made her one of his most powerful lieutenants at Twitter, Ella Irwin spent four years at Amazon, where her intensity inspired both respect and terror. The pressure was ceaseless; her emails landed at all hours. “She made me cry my first week,” a former employee told The Daily Beast. One space in the office became known as the “cry room.”
It wasn’t all on Irwin. Under Jeff Bezos, Amazon’s culture was notoriously brutal. But her personality seemed like an ideal fit. READ MORE
U.S. jobs report breathes life into Fed's 'soft landing' scenario
A jump in the workforce and easing wage growth suggests the U.S. job market is starting to move the way the Federal Reserve has hoped it will, to bring the supply and demand for workers into better balance and help in its battle against inflation.
After a year in which many basic metrics of the jobs market stalled at levels the U.S. central bank feels are inconsistent with stable prices, employment data for December published on Friday brought a hint of relief. READ MORE
Here’s what could tip the global economy into recession in 2023
The global economy has endured a tough year, with decades-high inflation sapping post-lockdown spending and pushing central banks to hike borrowing costs at an unprecedented clip to bring it under control.
Their campaign to manage prices may be working — but potentially at a sizable cost in 2023. READ MORE
Elon Musk becomes first person to lose $200 billion
Tesla CEO and Chief Twit Elon Musk has become the first person ever to lose $200 billion from his net worth, according to a Bloomberg report.
Musk, 51, previously became the second person ever to amass a fortune of more than $200 billion in January 2021, after Amazon founder Jeff Bezos. Musk has now seen his wealth drop to $137 billion following a recent drop in Tesla shares. READ MORE
What The Heck Happened? The Whiplash Year Of 2022
Remember January 2022? Ah, those were the days. The venture-backed startup world was revving up for another record-breaking year, raising huge rounds and paving the way to successful IPOs. But then caution flags began flying, venture capitalists pulled back, layoffs mounted, and lucrative exits became few and far between. Follow along with the Crunchbase News team as we track the major events of a year full of hairpin turns. READ MORE