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☆ Is the Great Resignation over? Why bosses are leaving at record rates
▼ + stars: | 2023-11-15 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

sturti | Getty ImagesThe Great Resignation may be over for most workers — but for some top honchos, it's only just begun. CEOs are looking around and thinking: 'I prefer a position in another company,' or 'I prefer retirement. "CEOs are looking around and thinking: 'I prefer a position in another company,' or 'I prefer retirement. While businesses rally to ensure the mental well-being of their workforce, CEOs might find themselves isolated in their struggles. While businesses rally to ensure the mental well-being of their workforce, CEOs might find themselves isolated in their struggles."

Persons: Gray, Alexander Kirss, Covid, switchers, Kirss, Carlina, —, LaShawn Davis, Challenger, Andrew Challenger, Davis, there's Organizations: Challenger, Christmas, Gartner, CNBC, Employees, Hospitals Locations: Ukraine

☆ US layoffs halve in June as tech job cuts ease - report
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

Despite the drop in job cuts in the month, layoffs in June were higher than the corresponding month a year earlier, the report said. Technology companies continue to lead job cut announcements with 141,516 layoffs in the first half of the year, compared with about 6,000 in the same period last year. The sector laid off nearly 5,000 employees last month, the report said. After a round of multiple rate hikes, the Fed unanimously kept its interest rates steady at the central bank's June meeting that could freeze layoffs and allay fears of employees. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: stoking, Andrew Challenger, Stuart Cole, Akash Sriram, Jaspreet Singh, Maju Samuel Organizations: Christmas Inc, Corporate America, Federal Reserve, Technology, Fed, Equiti, Thomson Locations: United States, Bengaluru

☆ CEOs thought the return to office debate was over. It looks like they were wrong
▼ + stars: | 2023-05-13 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

Other companies, too, could see reverberations if they enact similar policies, especially if the mandates feel arbitrary, human resources professionals say. That's why companies that want to bring workers back to the office need to focus on reconfiguring workspaces to foster additional collaboration. If your company hasn't yet, maybe don't 'mandate'Many companies are still ironing out their return-to-office policies. JustAnswer, an online source for professional information, has seen a 49% increase in questions related to return-to-office mandates and/or policies in its Employment Law category compared with May 2022. Companies should also evaluate whether across-the-board policies make sense, or whether in-office mandates should be implemented for certain functions only, Kogut said.

☆ US retailers cut most number of jobs in April -report
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - U.S. retailers replaced technology firms in cutting the most number of jobs in April, as companies show little signs of easing their belt-tightening drive in an uncertain economy. Higher interest rates to counter the impact of inflation have muddied the outlook for the U.S. economy, forcing Corporate America to undertake stringent measures to protect itself from any fallout from a potential recession. So far this year, major retail and consumer companies including Gap Inc (GPS.N) and Walmart (WMT.N) have announced job cuts. The report also said job cuts last month fell 25% to about 67,000 - the lowest so far in the year, taking total layoffs to around 337,000 jobs since the start of the year. Reporting by Akash Sriram and Tanya Jain in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ 'FIFA' publisher EA to cut 6% of workforce, reduce office space
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

March 29 (Reuters) - Electronic Arts Inc (EA.O) said on Wednesday it would lay off about 6% of its workforce and reduce office space, making it the first major videogame publisher to announce job cuts. Meta Platforms Inc (META.O) and Amazon.com Inc (AMZN.O) announced a second round of job cuts this month. Video game sales so far this year were flat and spending on video game content across platforms is down 2%, according to analytics firm Circana. Newly launched "Hogwarts Legacy" game from Warner Bros Discovery (WBD.O) topped the videogame sales charts in February, according to Circana. Reporting by Akash Sriram in Bengaluru; Editing by Devika Syamnath and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Streaming device maker Roku to cut 200 jobs in second round of layoffs
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 30 (Reuters) - Roku Inc (ROKU.O) will lay off 6% of its workforce, or 200 employees, in its second round of job cuts, the U.S. streaming device maker said, sending its shares up nearly 3% before the bell on Thursday. In a bid to lower expenses, the company also decided to exit and sub-lease office facilities that it did not currently occupy. Majority of the restructuring charges will be incurred in the first quarter of fiscal 2023, while the job cuts will be completed by the end of the second quarter, the company said. Earlier this month, Roku said it had about $487 million, or 26% of its cash and cash equivalents, in deposits with SVB Financial Group (SIVB.O), which was closed down by California banking regulators. Reporting by Tiyashi Datta in Bengaluru; Editing by Arun Koyyur and Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Inflation has reduced the value of bonuses that weren't raised by $25.5 billion. That means scores of employees who count on their bonuses lost purchasing power. Here's a look at the potential impact of inflation on bonuses for individual employees and entire sectors. We calculated average bonuses by sector for both years, assuming that bonuses are equal to 11% of an employee's salary, a figure published by job-search platform Zippia. Using the CPI inflation calculator, we found the value of 2021 bonuses a year later to uncover how much employees getting the same size bonus in 2022 lost from inflation.

[1/2] People queue outside a newly reopened career center for in-person appointments in Louisville, Kentucky, U.S., April 15, 2021. REUTERS/Amira KaraoudMarch 9 (Reuters) - Layoffs by U.S. companies over January and February touched the highest since 2009, with the tech sector accounting for more than a third of the over 180,000 job cuts announced, a report showed on Thursday. In February alone, layoffs in the United States stood at 77,770, more than five times higher than the 15,245 job cuts announced a year earlier, according to the report from employment firm Challenger, Gray & Christmas Inc.Reuters Graphics"Right now, the overwhelming bulk of cuts are occurring in Technology. Retail and Financial are also cutting right now, as consumer spending matches economic conditions," said Andrew Challenger, senior vice president of the firm. U.S. firms announced plans to hire 28,830 workers in February, down 87% from 215,127 a year earlier, the report added.

☆ Meta preparing for fresh round of job cuts - Washington Post
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

Feb 22 (Reuters) - Facebook-parent Meta Platforms Inc (META.O) is planning a fresh round of job cuts in a reorganization and downsizing effort that could affect thousands of workers, the Washington Post reported on Wednesday. Last year, the social media giant said it will let go of 13% of its workforce, or more than 11,000 employees, as it grappled with soaring costs and a weak advertising market. Meta plans to push some leaders into lower-level roles without direct reports, flattening the layers of management between top boss Mark Zuckerberg and the company's interns, the Washington Post reported, citing a person familiar with the matter. Meta, once worth more than $1 trillion, is now valued at $446 billion. More than 100,000 layoffs were announced at U.S. companies in January, led by technology companies, according to a report from employment firm Challenger, Gray & Christmas Inc.

☆ U.S. layoffs surged in January as tech slashed thousands of jobs - report
▼ + stars: | 2023-02-02 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

Feb 2 (Reuters) - Layoffs in the United States hit a more than two-year high in January as technology firms cut jobs at the second-highest pace on record to brace for a possible recession, a report showed on Thursday. The push to correct pandemic excesses has been most evident in the tech sector, which slashed 41,829 jobs last month, the highest across industries. Reuters GraphicsRetailers, second after tech, cut 13,000 positions in January, compared with virtually no layoffs a year earlier. Financial firms, meanwhile, shed 10,603 jobs last month, up from 696 roles a year earlier. Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

In recent years, U.S. tech majors have stepped up hiring and made diversity, equity and inclusion (DEI) a priority. But as the industry grapples with over-hiring since mid-2020, rising interest rates and changes in business and consumer behavior, tech companies have announced deep cuts, risking their diversity efforts. The rare shakeup in big tech companies risks further disrupting diversity pledges that have already grown stagnant as companies de-emphasize DEI efforts. Equal Employment Opportunity data for 2008-2016, found that about 7% of tech firms are actively trying to diversify their workforce. This will disrupt diversity efforts even further, said Benjamin Juarez, a recruiting consultant and co-founder of Latinos in Tech.

☆ Some Companies Are Ditching the Holiday Party. Others Are Busting Out the Lobster.
▼ + stars: | 2022-12-02 | by ( Ray A. Smith | ) www.wsj.com time to read: 1 min

Time to break out your ugly Christmas sweater and do some vocal warm-ups for karaoke. More in-person office holiday parties are back after two years of being canceled, downsized or moved onto Zoom. From formal banquets in fancy hotels to team talent shows at the office, this year 57% of U.S. companies surveyed said they are holding holiday parties this season—more than double last year and up from 5% in 2020, according to Challenger, Gray & Christmas Inc., an outplacement and executive-coaching firm that conducted the research.

☆ Layoffs Create Pitfalls for Finance Executives Looking to Cut Costs
▼ + stars: | 2022-11-28 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +6 min

They are increasingly looking to layoffs as a way to preserve capital, alongside other measures, such as hiring freezes. Finance chiefs play a key role in this by determining which costs to cut and setting companies’ financial targets, said advisers who work with companies during staffing cuts. Tech business HP Inc., ride-hailing company Lyft Inc. and tool-and-appliance maker Stanley Black & Decker Inc. have announced layoffs in recent months. Finance chiefs are increasingly part of the initial discussions about whether job cuts are needed, said Hardik Sheth, a partner at Boston Consulting Group, a management consulting firm. Some employees at Twitter, which recently cut roughly half of its workforce, are now pushing back against the dismissals.

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