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The decision marks a significant shift from Amazon's earlier policy, which required employees to badge in three days a week. Following the announcement, anxious workers have flooded LinkedIn and X feeds with posts wondering if their companies would be next to get rid of flexible work arrangements. Just one-third (33%) of U.S. companies require employees to come to the office five days a week, according to recent data from Flex Index, a platform that tracks companies' flexible work policies. Under 10% of tech companies with more than 1,000 employees have such a requirement. "We might see other smaller tech companies follow Amazon's lead, but most will continue sticking to some kind of hybrid arrangement," he says.
Persons: Andy Jassy, Jassy, we've, Dan Kaplan, haven't, Brian Elliott, hasn't, Kaplan, Elliott, we'll Organizations: Amazon.com Inc, Amazon, Citigroup, Walmart, UPS, Kastle Systems, Flex, Workers, Employees Locations: Seattle , Washington, lockstep, U.S
The job market might look solid on paper — unemployment is low, job openings are high — but the reality for many Americans on the job hunt tells a different story. "I just think the numbers are underselling how hard it is for job seekers right now." Economists and recruiters say lingering expectations from the "great resignation" and businesses' fears about an imminent recession could be to blame for job seekers' malaise. "How people feel about the job market is informed by their recent experiences with the job market," Glassdoor chief economist Daniel Zhao recently told CNBC. So even if 2024 is shaping up to be a relatively healthy labor market by recent comparison, it doesn't feel quite as strong."
Persons: ghosting, Javier Serrano, Serrano, Daniel Zhao, Bert Bean, aren't, Zhao, it's, Dan Kaplan, Kaplan Organizations: LinkedIn, CNBC, Insight Locations: Orlando, boardrooms
Google is factoring employees' in-office attendance into their performance reviews. A whopping 90% of companies plan to implement return-to-office policies by the end of 2024, according to an Aug. report from Resume Builder, which surveyed 1,000 company leaders. Nearly 30% say their company will threaten to fire employees who don't comply with in-office requirements. Even though more companies have introduced stricter in-office requirements for employees, office occupancy has remained relatively unchanged from the past year. In the U.S., employee productivity rose by 4.4% in 2020 and 2.2% in 2021, before falling in 2022, according to the Bureau of Labor Statistics.
Persons: Goldman Sachs, Dan Kaplan, Kaplan, Amazon's Andy Jassy, Brian Elliott Organizations: Google, Kastle Systems, Companies, Korn, Bureau of Labor Statistics Locations: U.S
So You Want to Turn an Office Building Into a Home? There’s an appealing simplicity to the idea of converting office buildings into housing. Basically, they did this:How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. How to Turn a 26-story Office Building Into a 30-story Apartment Building Cut a hole through 23 floors of the building. That could change with tax abatements and subsidy programs, or if outdated office buildings lose so much value that the cost of acquiring them plummets.
Some 30 million workers are subject to noncompete agreements, according to the FTC. The FTC estimated that some 30 million workers are subject to noncompete agreements. In theory, noncompete agreements protect companies from having high-level executives with inside info jump to competitors or start rival shops. Thousands of workers could soon switch jobsMany low-wage workers are subject to noncompete agreements, which the FTC said stifles wages and innovation. andresr/Getty ImagesEnforceable or not, noncompete agreements scare many workers into staying in their current roles, recruiters said.
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