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☆ I'm a tech worker who got laid off twice in a year. I've made good money — but I'm paranoid it will happen again.
▼ + stars: | 2024-02-16 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

AdvertisementThis as-told-to essay is based on a transcribed conversation with Amber Smith, a 27-year-old from Des Moines, Iowa, about getting laid off from two tech job in her 20s. I’ve been laid off in the tech industry twice. I've learned a lot, gained a lot of experience, and made some good money , but I don’t know if I would work in tech forever. Smith started working for a company that did lighting for smart buildings in June 2021. I tried to create a ticket with the tech team but that didn’t work either.

Persons: Amber Smith, she's, —, I’ve, I've, Smith, I’d, Slack, I’m Organizations: Service, eBay, LinkedIn Locations: Des Moines , Iowa, Europe

☆ The millionaire chasing immortality responds to people's criticism that he must be miserable
▼ + stars: | 2024-02-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

He's drawn criticism from the likes of Elon Musk and others on social media. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "I love the haters," Johnson said in an interview with Fortune. His haters include billionaire X owner Elon Musk, who seemed to mock Johnson's antiaging regimen in December.

Persons: Bryan Johnson, Elon Musk, —, Johnson, Fortune, They're, they're, isn't, Musk, he's Organizations: Service, Elon, eBay Locations: Braintree

☆ Generative AI financial scammers are getting very good at duping work email
▼ + stars: | 2024-02-14 | by ( Ellen Sheng | ) www.cnbc.com time to read: +8 min

Among the most common email scams are phishing emails. Instead of sending out generic emails, the emails are addressed to an individual or a specific organization. Now, criminals anywhere in the world can use ChatGPT or FraudGPT to create convincing phishing and spear phishing emails. If I'm going to do 1,000 spear phishing emails or CEO fraud attacks, and I find one in 10 of them work, that could be millions of dollars," said Davies. It will take some time for companies to adjust, but for now, cybersecurity experts say generative AI is leading to a surge in very convincing financial scams.

Persons: Chase, Christopher Budd, Elon, Gayle King, Tucker Carlson, Bill Maher, Andrew Davies, Cyril Noel, Tagoe, Davies, Venmo, Wise, Netcea, Banks, Ajay Bhalla, haven't, Noel, I've, Budd Organizations: Association of Financial, eBay, CBS, Fox News, Facebook, YouTube, PayPal, Mastercard Locations: Hong Kong, ComplyAdvantage

The mass layoffs announced Wednesday in conjunction with Cisco’s latest quarterly results represent about 5% of its worldwide workforce of 84,900. Cisco — a company best known for making much of the technology that connects the internet — expects its reorganization to cost an additional $800 million. The double whammy of two big layoffs in two years has been a phenomenon affecting other prominent technology companies, such as Google and Amazon, both of which have trimmed their once-steadily growing payrolls multiple times since the end of 2022. The reductions are being made even though most of the companies are still big moneymakers. But Cisco’s stock price has gained just 6% during the same period, a factor that might have played into management’s decision to make even deeper payroll cuts than some of the company’s tech brethren.

Persons: Chuck Robbins, Robbins, Cisco's, ” Robbins Organizations: FRANCISCO, Cisco Systems, Cisco —, Google, Cisco, Revenue, Microsoft, Riot Games, eBay, PayPal, Nvidia Locations: San Jose , California, U.S

☆ Cisco says it's cutting 5% of global workforce, amounting to over 4,000 jobs
▼ + stars: | 2024-02-14 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Cisco announced plans to cut 5% of its workforce on Wednesday, a decision that will result in the elimination of about 4,250 jobs. Net income declined to $2.63 billion, or 65 cents per share, from $2.77 billion, or 67 cents per share, in the year-ago quarter. With respect to guidance, Cisco called for 84 to 86 cents per share on $12.1 billion to $12.3 billion. For the full year, Cisco sees $3.68 to $3.74 in adjusted earnings per share and $51.5 billion to $52.5 billion in revenue. Cisco said it was increasing its dividend by a penny to 40 cents per share.

Persons: Chuck Robbins, LSEG, Robbins, it's, — CNBC's Ari Levy Organizations: Cisco, Microsoft, SAP, eBay, StreetAccount

☆ These cheap turnaround candidates have 20% upside potential, says Jefferies
▼ + stars: | 2024-02-11 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Technology-adjacent stocks outperformed in January, while cyclical sectors such as property and automobiles lagged behind, wrote Desh Peramunetilleke, Jefferies' global head of quantitative strategy. Another stock Peramunetilleke highlighted was automotive manufacturing firm General Motors , down 7% in the last year. The majority of analysts covering the name rate it as a buy, with consensus price targets estimating a nearly 28% upside for the stock. Analysts are overwhelmingly bullish on the name, with the average price target indicating a 17% upside for the stock. Other names belonging to Jefferies' basket of stocks with potential upside include Kinder Morgan , Starbucks , eBay and United Airlines .

Persons: Jefferies, Peramunetilleke, Hershey, AllianceBernstein, Alexia Howard, Morgan Stanley, Adam Jonas, Oppenheimer, Kinder, — CNBC's Michael Bloom Organizations: Technology, Hershey, Motors, General Motors, Citi, Kinder Morgan, Starbucks, eBay, United Airlines Locations: USA, U.S

☆ Gen Z doesn't know how to dress for work. Here are 5 fashion tips to elevate your workwear, according to stylists.
▼ + stars: | 2024-02-10 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +8 min

We chatted to two corporate stylists to find out how the younger gens can elevate their work style:1. You should be covered 'from nips to knees'Maree Ellard styled in a corporate outfit. Invest in some great work shoesIt's time to put aside those casual Nike Air Force 1 sneakers and invest in more stylish work shoes, Teich says. Play around with accessories, details, and colorMaree Ellard styled in a corporate outfit. Keep the designer logos to a minimumMaree Ellard styled in a corporate outfit.

Persons: —, Zers, Ryan Vogel, they're, Maree Ellard, Maree, Ellard, Liz Teich, Teich, It's, Kate Hart Finnigan, Adidas Stan Smiths, it's Organizations: Service, Business, Fox School of Business, Temple University, eBay, Invest, Nike Air Force, Adidas Locations: Australia, New York, Zara

☆ Tim Cook, Steve Ballmer and Jamie Dimon are among the few US billionaires who didn't found a company or inherit a fortune
▼ + stars: | 2024-02-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewVirtually all of America's billionaires either founded a wildly successful company or inherited a vast fortune. Apple CEO Tim Cook, JPMorgan CEO Jamie Dimon, and former Microsoft CEO Steve Ballmer are among the few exceptions. Ballmer leads the pack with an estimated fortune of $143 billion, according to the Bloomberg Billionaires Index largely due to his near-4% stake in Microsoft. AdvertisementRemarkably, Ballmer ranks sixth on the Bloomberg list, just one spot and $3 billion behind the Microsoft cofounder. Other industry stalwarts include Meta's former operating chief, Sheryl Sandberg ($2 billion), and former eBay CEO Meg Whitman ($3 billion).

Persons: —, Tim Cook, Jamie Dimon, Steve Ballmer, Forbes, Bill Gates, Ballmer, Eric Schmidt, Charles Simonyi, Jeff Rothschild, Jeff Skoll, Sheryl Sandberg, Meg Whitman, Justin Sullivan, Snowflake, Frank Slootman, Apple's Cook, Safra Catz, Lisa Su, Ramzi Musallam, JPMorgan's, Goldman Sachs, Lloyd Blankfein, Tor Peterson, Paul Saville, homebuilder Organizations: Service, Apple, JPMorgan, Business, Bloomberg, Microsoft, Facebook, eBay, Getty Images Tech, Forbes, Oracle, AMD, Veritas Capital, Blackstone, KKR Locations: Silver

☆ The Cool Thing to Wear to the Big Game? Something Old.
▼ + stars: | 2024-02-06 | by ( Jessica Testa | ) www.nytimes.com time to read: +1 min

The team store: A glorified souvenir shop at stadiums and arenas, where sports fans shop for official jerseys, snapback hats and a variety of magnets and key chains. “That is very out,” said Lily Shimbashi of Sportsish, a pop-culture newsletter and podcast aimed to female sports fans. It’s ugly.”For more and more fans, official game-day apparel has been replaced by less official, trendier gear sold online. items has nearly quadrupled in the last year, particularly in Missouri, home of the Kansas City Chiefs. The day after it was determined that Kansas City would play the San Francisco 49ers in the Super Bowl, eBay searches for vintage 49ers T-shirts rose by more than 400 percent in the United States and Canada.

Persons: ”, Lily Shimbashi, “ Organizations: Mets, M, Google, Kansas City Chiefs, Kansas City, San Francisco 49ers, Super, eBay, 49ers Locations: Florida, Missouri, Kansas, United States, Canada

☆ Nobody's quitting their job anymore. That's a bad sign for workers.
▼ + stars: | 2024-02-04 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

That could be a sign that workers feel less confident about the state of the labor market. AdvertisementFriday's blowout jobs report confirmed the labor market is still holding firm, but one often-ignored statistic could signal a looming slowdown. "The second straight 2.2% quits rate — just below the pre-Covid level — is more important, because it clearly signals slower wage gains." "All that air is coming out of the labor market, even though hiring remains strong." "The job market is steadily returning to its pre-pandemic self," Morningstar's Preston Caldwell said in a research note.

Persons: —, José Torres, Ian Shepherdson, Philipp Carlsson, Szlezak, Optimists, Morningstar's Preston Caldwell Organizations: Service, of Labor Statistics, Macroeconomics, Bureau of Labor Statistics, Boston Consulting Group, Business, eBay, Los Angeles Times

Recent job cuts have been concentrated mainly in just a few sectors: technology, finance and media. Relative to the U.S. labor force of 160 million people, layoffs so far have been dwarfed by consistently vigorous hiring — a monthly average of 248,000 jobs added over the past six months. THE LAYOFFS ARE SPREAD OVER TIMEHigh-profile job cuts typically involve many layoffs that aren't implemented immediately. So they weren't included in the January jobs data that was released Friday because the layoffs hadn't yet taken place. Jobs cuts are deeply distressing and disruptive for people who suffer them.

Persons: they've, —, They're, That's, binges, Todd McKinnon, ” Organizations: WASHINGTON, Blockbuster, eBay, UPS, Spotify, Manufacturers, Labor Department, Companies Locations: Federal, U.S

☆ I'm a millennial who's obsessed with Stanley cups. They remind me of collecting 'Harry Potter' books, and I even bought some on my wedding day.
▼ + stars: | 2024-02-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Read previewThis as-told-to article is based on a conversation with Kaitlin Gostel, a 29-year-old academic in Florida who collects Stanley cups. However, the feeling reminds me of getting Beanie Babies, Tamagotchis, or, most importantly, "Harry Potter" books. When waiting for both "Harry Potter" books and Stanley cups, we all get these nervous butterflies. So at 6 p.m., after saying my vow, I ran into the bathroom and purchased four different Stanley cups on my phone. However, they are built to last, and watching the video of a Stanley cup surviving a car fire, I'm like, "Geez, these things are insurance.

Persons: —, Kaitlin Gostel, Stanley, I'm, Harry Potter, Barnes, Noble, I've, he'll, you've, it's, Stanley Quenchers, Brian van der Organizations: Service, Starbucks, Business, Target, Stanley, eBay Locations: Florida, Korea, Starbucks Korea, Italy

☆ Stanley announces new limited-edition collab with the NBA's Utah Jazz
▼ + stars: | 2024-01-31 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

Ticketholders will be the first to have access to the limited-edition cups, which will be available in both black and white. The Utah Jazz will be selling exclusive Stanley Quenchers emblazoned with the Jazz logo at the team's next home game against the Milwaukee Bucks on Sunday, February 4. The drop is part of a multi-year agreement between Stanley and the Jazz. Stanley is particularly popular in Utah. If Stanley's recent drops are any indication, the Jazz cups should be a hot commodity.

Persons: Stanley, Stanley Quenchers, Lainey Wilson, Joanna Gaines Organizations: Delta Center, Jazz, Utah Jazz, Milwaukee Bucks, Starbucks, eBay, HGTV Locations: Utah

WASHINGTON (AP) — The e-commerce giant eBay will pay $59 million in a settlement with the Justice Department over thousands of pill press machines sold on the the platform. The Justice Department says eBay failed to meet those requirements for thousands of pill presses and pill-filling encapsulating machines, including high-capacity pill presses capable of producing thousands of pills per hour. Many people who bought pill presses on eBay have since been charged in illegal counterfeit pills trafficking cases, according to the Justice Department. “Counterfeit pills laced with fentanyl are a significant contributor to the deadly overdose epidemic,” said Associate Attorney General Vanita Gupta. The company has agreed to step up its compliance program on sales of pill presses as well as counterfeit molds, stamps and dies, and encapsulating machines, which are used to fill pills.

Persons: ”, Vanita Gupta, Nikolas Kerest of, Henry Leventis Organizations: WASHINGTON, eBay, Justice Department, Drug, Administration, Department, U.S . Centers for Disease Control, Middle, Middle District of Locations: Nikolas Kerest of Vermont, Middle District, Middle District of Tennessee

☆ Eight portfolio moves from Rob Sechan
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEight portfolio moves from Rob SechanRob Sechan, CEO of NewEdge Wealth, joins CNBC's "Halftime Report" to share his trades on McDonald's, Adobe, eBay, Verisk Analytics, Ping An Insurance Group, KLA Corp, H&R Block, and Allison Transmission Holdings.

Persons: Rob Sechan Rob Sechan Organizations: NewEdge, Adobe, eBay, Ping An Insurance Group, KLA Corp, Allison Transmission Holdings

☆ The economy is roaring. So why do we keep hearing about layoffs?
▼ + stars: | 2024-01-31 | by ( Madison Hoff | ) www.businessinsider.com time to read: +5 min

Los Angeles Times, eBay, and UPS are three companies that have made recent layoff announcements. Despite cuts at big household names, the nation's layoffs and discharges rate has been steadily low. AdvertisementEmployees at the Los Angeles Times, eBay , Microsoft , and UPS are some of the workers impacted by recent layoff announcements in January. That sector had a layoffs and discharges rate of 0.8% in December, which is actually a small dip from the 0.9% in November. Zhao noted that "the scale here" means that this number probably isn't really going to change because of the recent layoff announcements.

Persons: —, Nick Bunker, Bunker, Julia Pollak, ZipRecruiter's, Daniel Zhao, Glassdoor, Zhao, that's, Kory Kantenga, isn't Organizations: Los Angeles Times, eBay, UPS, Service, Microsoft, Bureau of Labor Statistics, North America, Labor, LinkedIn

You'll find all the links below if you're looking for the latest on where and how to buy Super Bowl tickets in 2024 for Chiefs vs. 49ers. If you just want to browse Super Bowl tickets right now, here are the links you need. How to buy Super Bowl ticketsHeading online is the way to go for buying Super Bowl tickets. The 2024 Super Bowl tickets are on sale now, and the longer you leave them, the more expensive they'll get. Super Bowl 2024 will hosted by Las Vegas this year at the Allegiant Stadium, the home of the Las Vegas Raiders.

Persons: we've, Adele, scalping, Taylor Swift, Travis Kelce, We've, It's, Harry Reid Organizations: Super, Chiefs, 49ers, Vividseats, Ticketmaster, Caesars, eBay, Facebook, Super Bowl, Bowl, Sunday's AFC, Las, Las Vegas Raiders, of, Vegas, Harry Reid International Airport, Las Vegas Locations: Las Vegas, Vegas, StubHub, of Nevada, Japan, Airbnbs, Sin City

☆ Workers are sour on the job market — but it may not be warranted
▼ + stars: | 2024-01-29 | by ( Greg Iacurci | ) www.cnbc.com time to read: +2 min

Maskot | Digitalvision | Getty ImagesWorkers are sour on the job market — but that pessimism may be somewhat misplaced. So far in 2024, for example, big technology firms including Amazon, eBay, Google and Microsoft have announced job cuts. U.S.-based companies planned about 722,000 job cuts in 2023, almost double those announced in 2022, according to Challenger, Gray & Christmas, an outplacement and executive coaching firm. watch nowHowever, those recent headlines mask strength in the overall job market, economists said. "It's still a very robust and resilient labor market overall," Pollak said.

Persons: Daniel Zhao, Zhao, it's, Mark Zandi, Zandi, they've, Julia Pollak, " Pollak Organizations: Digitalvision, Getty Images Workers, Amazon, eBay, Google, Microsoft, Citigroup, Universal Music Group, U.S, Challenger, Moody's, Federal Reserve Locations: BlackRock, U.S

☆ Elon Musk compares the AI race to playing poker — you need to spend billions every year just to sit at the table
▼ + stars: | 2024-01-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +2 min

Read previewElon Musk has compared the AI arms race to a high stakes game of poker, with companies needing to spend billions on AI hardware just to stay competitive. "Tesla will spend more than that on Nvidia hardware this year. The table stakes for being competitive in AI are at least several billion dollars per year at this point," he added. AdvertisementThe billionaire previously said on X that Tesla is an AI and robotics company rather than a carmaker. In a post on X, he said he was "uncomfortable" building up Tesla's AI capacity without having more control of the company.

Persons: —, Elon, Tesla, Mark Zuckerberg, Musk Organizations: Service, Business, Nvidia, eBay, AMD, SpaceX

☆ Layoffs from major companies to start the year have impacted thousands of workers. What to know if you're offered a buyout
▼ + stars: | 2024-01-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Microsoft joined a list of big tech companies that announced major layoffs at the start of 2024. The technology company plans to cut about 9% its Gaming Unit headcount, amounting to 1,900 laid off workers, according to a memo obtained by CNBC. Earlier this week, EBay said it plans to let go 1,000 employees, or 9% of the company's staff. These announcements join a flurry of layoffs from tech behemoths like Amazon and Google . For example, explore options to work fewer hours or find ways to boost your buyout deal, they advise.

Persons: Suzy Welch, Julia Pollak Organizations: Microsoft, CNBC, EBay, Google, Finance, SAP Locations: German

☆ Microsoft lays off 1,900 workers, nearly 9% of gaming division, after Activision Blizzard acquisition
▼ + stars: | 2024-01-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

Former Blizzard president Mike Ybarra said Thursday on social media platform X he would be leaving Microsoft and Blizzard. Activision Blizzard is the publisher and developer of several massive gaming franchises, including Call of Duty and Diablo. Microsoft's $69 billion acquisition of Activision Blizzard was the company's largest ever acquisition, more than double the size of its 2016 purchase of LinkedIn. Unlike the Microsoft layoffs, eBay and SAP saw a significant bump in their share prices following their announcements. Read the full memo below:It's been a little over three months since the Activision, Blizzard, and King teams joined Microsoft.

Persons: Phil Spencer, Mike Ybarra, Spencer, Activision Blizzard, Candy, It's, we'll, I'm, Phil CNBC's Steve Kovach Organizations: Microsoft, CNBC, Activision Blizzard, Former, Blizzard, Activision, LinkedIn, Tech, Games, eBay, SAP, King, Microsoft Gaming, Leadership Team, Xbox

The Espoo, Finland-based company reported net profit of 568 million euros ($619 million) for the October-to-December quarter, down from 929 million euros in the same period a year earlier. Nokia is one of the world’s main suppliers of 5G, the latest generation of broadband technology, along with Sweden’s Ericsson, China’s Huawei and South Korea’s Samsung. Nokia's net income attributable to shareholders came in at 558 million euros in the fourth quarter, down from 931 million euros the previous year. Nokia’s sales also fell 23%, to 5.7 billion euros from 7.5 billion euros. “Looking ahead, we expect the challenging environment of 2023 to continue during the first half of 2024, particularly in the first quarter,” he said.

Persons: China’s, Pekka Lundmark, ” Organizations: HELSINKI, Nokia, 5G, Sweden’s Ericsson, China’s Huawei, South, Samsung, eBay Locations: Espoo, Finland

NEW YORK (AP) — Microsoft is laying off about 1,900 employees in its gaming division, according to an internal company memo, just over three months since the tech giant completed its $69 million purchase of video game maker Activision Blizzard. Those impacted worked on teams for Activision Blizzard as well as Xbox and ZeniMax — which are also owned by Microsoft. “As we move forward in 2024, the leadership of Microsoft Gaming and Activision Blizzard is committed to aligning on a strategy and an execution plan with a sustainable cost structure that will support the whole of our growing business,” Microsoft Gaming CEO Phil Spencer wrote in the memo. The union deal was part of a 2022 agreement with the CWA that helped address U.S. political concerns about the merger’s effects. So far, however, only a small set of Activision Blizzard divisions have formed unions.

Persons: Activision Blizzard, Phil Spencer, Mike Ybarra, ” Ybarra, “, ”, _________________ O'Brien Organizations: Microsoft, Activision, Associated Press, Activision Blizzard, Microsoft Gaming, Twitter, European Union, The U.S . Federal Trade Commission, FTC, Google, Riot, eBay, Communications Workers, CWA Locations: United Kingdom, European, U.S, Canada, Providence , Rhode Island

LONDON (AP) — Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry. Political Cartoons View All 253 ImagesSan Jose, California-based eBay is the latest tech company to roll out a series of layoffs after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Meanwhile, Amazon said this month that it is cutting several hundred jobs in its Prime Video and MGM Studios unit. Other tech companies, including Spotify, Microsoft, Meta and IBM, also have recently cut jobs.

Persons: Jamie Iannone, Iannone, ”, TikTok, Amazon, ” Iannone Organizations: —, eBay Inc, eBay, Google, Riot Games, “ League, MGM Studios, Spotify, Microsoft, Meta, IBM, Justice Department Locations: Jose , California, Massachusetts

☆ It looks like remote workers are getting the boot once again
▼ + stars: | 2024-01-24 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

A bunch of executives at e-commerce firm Wayfair singled out remote workers as the ones who were more likely to have been laid off in a fresh round of cuts, The Wall Street Journal. The targeting of remote workers will come as little surprise for many, given the ugly battle that's been raging over remote work in recent months. Some bosses such as Elon Musk have disparaged remote workers as lazy members of the "laptop classes living in la la land," and called out the practice as "morally wrong." However, the Wayfair layoffs are a reminder that remote workers are in grave danger if their managers don't believe they're putting in the hours away from the office. Many remote workers will be feeling more vulnerable than ever.

Persons: —, Wayfair, Niraj Shah, Shah, Elon Musk, Goldman Sachs, David Solomon, Ken Griffin Organizations: Service, Street, Business, Elon, Meta, Google, eBay, Billionaire, Citadel Locations: la la

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