Category Archives: Economy

The Alarming Impact of “Loud Quitting” on Workforce Engagement and Global Economy

Posted on 07/29/2023 by | Comments Off on The Alarming Impact of “Loud Quitting” on Workforce Engagement and Global Economy
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BNN Bloomberg reports that, in a recent Gallup survey, it has come to light that a significant number of workers are engaging in what they call “loud quitting” – showing up for work but actively disengaging and taking actions to harm their organizations. This phenomenon is responsible for a staggering 8.8 trillion dollars in losses to the global economy, amounting to nine percent of the global GDP.

While “quiet quitters” still have a chance of being inspired or motivated to become more productive, the situation is more concerning with “loud quitters.” These employees have become a lost cause, as they demonstrate outright opposition to leadership and the organization.

Managers are faced with the daunting task of dealing with this disengagement crisis, as nearly 60 percent of workers worldwide admitted to quietly quitting their jobs. This leaves less than a quarter of the workforce who are actively engaged and contributing positively to their workplaces.

It’s not just a matter of job dissatisfaction; the lack of engagement is making people miserable, and it is taking a severe toll on the global economy. Addressing this issue and finding ways to re-engage disheartened employees is vital for organizations and economies to thrive in the long run.

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London Workers Reluctant to Return to Office

Posted on 07/23/2023 by | Comments Off on London Workers Reluctant to Return to Office
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A recent survey conducted by Bloomberg Intelligence reveals that nearly 75% of London workers prefer the flexibility of remote work and would contemplate quitting their jobs rather than giving it up.

The study, which included responses from 500 employees, highlights that 40% of respondents would require a raise of at least 16% to reconsider returning to the office.

The motivation behind the survey was to gain insights into the employees’ perspective on remote work, especially considering the significant impact it has on various industries, such as real estate with multinational tenants in prime spaces.

The survey’s results indicate a strong desire for remote work among London workers, with 95% already receiving work from home options from their employers.

Moreover, 70% of respondents believe that remote work is here to stay, becoming a permanent fixture in the workplace.

The data also shows a shift in attitudes towards remote work across different age groups. In June 2022, only 44% of the older generation favored permanent work from home arrangements, but that number has now risen to 77%, bringing it closer to the preferences of younger workers.

Various factors contribute to this trend. The survey reveals that reasons for employees preferring remote work include issues such as costly commutes, rail strikes, and overall convenience. Additionally, the opportunity for salary increases is a key consideration for those considering a return to the office. However, networking and knowledge transfer for younger staff are crucial aspects that motivate some employees to come back to the physical office.

The survey’s findings strongly suggest that remote work is likely to remain a dominant feature of London’s workforce. The allure of flexibility, cost-saving benefits, and the ongoing pandemic’s influence have solidified the preference for remote work, indicating a substantial cultural shift in the city’s working lifestyle.

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Google Prefers In Office to Work at Home Workers

Posted on 07/14/2023 by | Comments Off on Google Prefers In Office to Work at Home Workers
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Joanne Lipman and Tom Gimbel join Brian Sullivan on CNBC’s Last Call to discuss Google’s decision to implement tough tactics in transitioning from full remote work to a hybrid model.

Lipman acknowledges the argument for returning to the office, highlighting the importance of serendipity and the limitations of productivity during Zoom meetings. However, she cautions that strict mandates requiring employees to be in the office can be arbitrary and may backfire.

Gimbel supports the idea of mandating office attendance, emphasizing the need for leadership and the challenges faced by companies like Google in switching their stance on remote work. He argues that these companies baited and switched their employees, falsely promising a permanent shift to remote work.

The discussion also touches on the consequences of these mandates. Lipman mentions that such policies disproportionately harm women and people of color, who benefitted from the flexibility of remote work, leading to increased participation in the workforce. She warns that forcing employees back to the office would result in losing valuable contributors.

Gimbel counters by suggesting that some employees who haven’t had the opportunity to work remotely should be considered. However, Lipman cautions that discriminating against those who prefer remote work or have limited face time in the office may result in losing talented individuals.

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Posted in Economy, Finance, Work at Home News, youtube

Workers Compete to Work from Home

Posted on 07/08/2023 by | Comments Off on Workers Compete to Work from Home
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The competition for work-from-home jobs has become intense in certain cities across the United States. According to LinkedIn’s Workforce Insights Report, Bend, Oregon, is one of the top cities where remote job applications have significantly increased. Nearly 75% of job applications in Bend are for remote roles, compared to just 42% two years ago. This trend is mirrored in other regions as well.

Nationally, only 11% of open positions on LinkedIn offer remote work, but they attract almost half of the total job applications as of May. The top ten cities with the highest interest in work-from-home jobs, based on the share of applications for remote-specific openings, are Bend, Oregon; Asheville, North Carolina; Wilmington, North Carolina; Myrtle Beach, South Carolina; Spokane-Coeur d’Alene, Washington; Sioux Falls, South Dakota; Medford-Grants Pass, Oregon; North Port-Sarasota, Florida; Wausau-Stevens Point, Wisconsin; and Crestview-Fort Walton Beach-Destin, Florida.

These cities, often referred to as “Zoom towns,” experienced an influx of residents during the COVID-19 pandemic when remote work became widespread. Bend, in particular, attracted tech workers from Silicon Valley and Seattle. However, as several big tech companies like Google, Microsoft, and Apple increase their return-to-office requirements, remote work opportunities may become scarcer. Individuals who relocated during the pandemic might have to let go of their newfound flexibility or explore alternative options.

The report suggests that if workers in these cities are unable to secure remote jobs, there may be an increase in entrepreneurship, a return to larger metropolitan areas, or a shift towards hybrid or in-office work. The competitive job market is likely to reshape the dynamics of remote work in these regions.

Source: CNBC

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Intel Stock Plummets as CHIPS Act Passes the House

Posted on 07/29/2022 by | Comments Off on Intel Stock Plummets as CHIPS Act Passes the House
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EXCERPT:

Dave: Intel just reported second quarter earnings after the bell. Yahoo Finance’s Jared Blikre, here on the same day that the CHIPS Act passes the House, which really benefits Intel, and shares are plummeting, Jared.

Jared: Dave, ironic that there is no boost from that. Let’s take a look at the numbers because I actually… Let me begin with a quote from the CEO Pat Gelsinger. Gelsinger, “We must, and will, do better.” And we’re gonna go over those numbers. See if they can improve upon them. Adjusted EPS for the second quarter coming in at 29 cents. The estimate was for double that, 69 cents. More than double that. And then, just going down the numbers, client computing revenue 7.7 billion.

The estimate was for 8.8 billion. Data Center, 4.6 billion, estimate 6.4 billion.
Now on to the forecast. This is where it gets a little bit scary. Seeing adjusted revenue of 65 to $68 billion. Previously, they saw 76. The estimate on Wall Street was about 74 and three quarters billion. Also they are seeing adjusted EPS of 2.3 dollars, $2.30. Previously, they saw $3.60. Estimate was for $3.39. Adjusted gross margin for the full year seeing 49% and the estimate was for higher at 51.8%.

Finally, capital expenditures, $23 billion, whereas before they saw 27 billion. The Street had an estimate a little bit lower than that. They are in the midst of a turnaround strategy right now. And execution wise, we gotta wonder if this is just an idiosyncratic story or if this is just about the industry as a whole.

I want to go to the YFi Interactive, and we’re seeing the shares down about nine, 10% right now. Actually,7 3/4, but let’s check out a year-to-date chart, is down 23%. CHIPS being very highly levered to the economy. We did get that negative GDP print earlier today. That’s backwards looking, but everybody wants to know, are people still buying chips and are our manufacturers able to deliver them to market?

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Bitcoin Trades Below $23,000 Following ECB Rate Hike

Posted on 07/28/2022 by | Comments Off on Bitcoin Trades Below $23,000 Following ECB Rate Hike
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EXCERPT: Welcome back to Yahoo Finance Live. Let’s take a look at the YFi Interactive to get a check on how the cryptos are doing this morning. You can see it is, yikes, spread across the board.

We take a look at the Etherium down 6% intraday. We also take a look at the big fish over here. That is, of course, Bitcoin down 6 1/2%. Down to about 22,600. Although, that is still far above where we were when you consider how far we went down in 2022.

But, of course, all this action coming after Tesla reported earnings yesterday. And Elon Musk’s company dipping 75% of its Bitcoin holdings out of crypto and into Fiat. Again, I mean, I don’t know if it’s a good thing that we’re talking about car companies and and their Bitcoin holdings, but that was pretty notable from yesterday.

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Earnings are showing a Fair Amount of Strength

Posted on 07/28/2022 by | Comments Off on Earnings are showing a Fair Amount of Strength
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EXCERPT:

Speaker 1: There’s a lot to unpack in this market, but just broadly speaking, wondering how you’re viewing the earnings that we’ve gotten so far. Again, we’re very early into this earnings season. We’ve got the banks and we’ve got some of these large companies like Tesla reporting and hitting the tape as well. Any noticeable trends that you’re seeing?


Speaker 2: Well, I think when we take a look at earnings across the board, for the most part, we’re seeing a fair amount of strength. And I think investors coming into this earnings season were concerned about the deceleration and growth, and we’re seeing it, but it’s not nearly as bad as feared.

Right now, we’re going to expect EPS to finish this quarter, up around 9%. And it’s coming from sales growth that’s 13 to 14%. That’s a big number. A part of that margin contraction is coming from financials. So it’s not broad-base. There are certain groups which we’re seeing that margin pressure, but generally speaking, we’re seeing a fair amount of strength across the board. I think banks is one area where we’re seeing a little bit more increase in reserves, and I think investors are looking ahead to see if there is recessionary impulses in that process. But for the most part, we’re feeling comfortable with this coming earnings season.

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How to Make Your Resume Impactful

Posted on 07/21/2022 by | Comments Off on How to Make Your Resume Impactful
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TRANSCRIPT: I have a small group coaching program that I host, and I had a very special guest at a recent VIP session that I held with them. A recruiter from Meta. Not going to reveal their name, but they gave us a lot of tea. And one of the key ingredients to that tea, especially for recruiters these days is, “How is this candidate not just telling you what they’ve done, but what is the impact of what they’ve done?”


I promise you, it’s how you’re going to stand out on that high stack of applicants because despite the recession that we are potentially heading towards, job postings are still up 54% compared to the recession, so there’s still jobs out there.
There’s still millions more jobs that are open.


So, although we are heading into recession territory – I’m not here to fear monger – but perhaps we’re heading there. There’s still a lot of signs that people are able to make really juicy career moves and get new opportunities.

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Gap CEO to Leave the Company

Posted on 07/20/2022 by | Comments Off on Gap CEO to Leave the Company
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TRANSCRIPT: You’re now at Stock to Watch as we go to break. Shares in the company Gap are, let’s see, down 4% in after hours trading. The company just announcing CEO Sonia Syngal is stepping down from her position from the company’s board. She’ll be replaced on an interim basis by current Executive Chairman Bob Martin.

The company is also naming a CEO of the Old Navy division. Horacio Barbeito is joining WalMart where he now serves as president and CEO of Walmart Canada.

Gap sales in the second quarter: Net sales down about high single-digit range, relatively in line with its prior expectations. Now sees Q2 adjusted operating margin percentage zero negative.

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