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☆ The biggest change coming to remote work and RTO in 2024, according to a tech CEO
▼ + stars: | 2024-01-22 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

In just five years, remote work has gone from a fringe benefit to a sought-after privilege people are competing for. The demand for remote jobs continues to outstrip supply: As of December 2023, remote jobs made up less than 10% of postings advertised on LinkedIn, down from a high of 20.6% in March 2022 — even though close to half of jobseekers prefer remote roles. Remote jobs won't disappear entirely, even if some become harder to find, Atlassian co-founder and co-CEO Scott Farquhar tells CNBC Make It. The Australian software company adopted a "Team Anywhere" policy in 2020 that allows employees to choose between remote, in-person or hybrid work. Instead, Farquhar says the biggest change we'll see to remote work in 2024 is companies introducing stricter, more permanent guardrails around their remote or hybrid work arrangements.

Persons: —, Atlassian, Scott Farquhar, Farquhar Organizations: LinkedIn, CNBC Locations: Australian

☆ The No. 1 challenge Fortune 500 execs say they're facing with employees right now, according to new research
▼ + stars: | 2024-01-18 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

Executives are more concerned about employee productivity than about getting them back to the office, according to new research from Atlassian. In September, the Australian software company asked 100 Fortune 500 and 100 Fortune 1000 executives what their biggest organizational challenge is, and nearly half (43%) said low productivity. Only a third of executives with an in-office mandate said they thought their in-office policies have had any impact on productivity. Instead, 76% of the Fortune 500 executives surveyed said they are more worried about how their teams are working than where they work. It's not the first time executives have said they're worried that workers are getting less done — and evidence suggests their fears aren't unfounded.

Persons: It's, Atlassian's, Scott Farquhar Organizations: Fortune, Bureau of Labor Statistics, CNBC Locations: Australian

☆ This billionaire tech CEO is just fine with staff working wherever they want to – and only goes to the office once every three months
▼ + stars: | 2023-08-28 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

A software CEO told Australia's "60 Minutes" he only goes into the office once every three months. AdvertisementAdvertisementWhile many tech bosses are desperately trying to force their minions back to the office, one CEO is swimming firmly against the tide. Scott Farquhar, the billionaire founder and CEO of Atlassian, said he works from home most of the time and only goes to the office about once every three months. Atlassian rolled out its "Team Anywhere" hybrid work policy in August 2020 during the pandemic. Google staff have been expected to work from the office three days a week since April 2022, while Meta told staff in June that they must do so as well.

Persons: Australia's, Scott Farquhar, Atlassian, Farquhar, Meta, there's Organizations: Nasdaq, Tech, Meta, Google Locations: India, Japan, Philippines, Australia

☆ Atlassian shares skyrocket as CEOs see wider margins returning
▼ + stars: | 2023-08-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Atlassian shares jumped as much as 24% in extended trading on Thursday after the collaboration software maker announced stronger-than-expected fiscal fourth-quarter results and promised wider margins in the future. Here's how the company did:Earnings: 57 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv. 57 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv. Revenue: $939.1 million, vs. $914.6 million as expected by analysts, according to Refinitiv. The company's net loss of $59 million or 23 cents per share, narrowed from $90.6 million, or 36 cents per share, in the year-ago quarter.

Persons: Scott Farquhar, Atlassian, Refinitiv, Mike Cannon, Brookes, Cameron Deatsch, Farquhar, Salesforce, NFJ's Organizations: Atlassian Corp, Allen, Co . Media, Technology Conference, StreetAccount, Management, Cloud, Cannon, Microsoft Locations: Sun Valley , Idaho, Refinitiv

☆ Atlassian taps OpenAI to make its collaboration software smarter
▼ + stars: | 2023-04-19 | by ( Jordan Novet | ) www.cnbc.com time to read: +5 min

Atlassian on Wednesday said it will draw on technology from startup OpenAI to add artificial intelligence features to a slew of the collaboration software company's programs. Atlassian has been building its own AI models for several years, but just started using OpenAI at the beginning of 2023. But Farquhar dismissed this concern, explaining that OpenAI won't be training its models on Atlassian's customer data, so Atlassian won't be necessarily making OpenAI better by giving it business. Atlassian employees have been able to use the new Atlassian Intelligence features internally, and they have become popular, especially for those leading teams, Anu Bharadwaj, president of Atlassian, said. Bharadwaj said Atlassian hasn't figured out how much to charge for Atlassian Intelligence.

Generative AI, which the tech industry has embraced, has the ability to synthesize large amounts of data and answer complex questions. Atlassian co-founder Scott Farquhar said because companies use its software to track and document projects, Atlassian is in a unique position to use AI to help knowledge workers dramatically increase their productivity. Starting Wednesday, customers can join a waitlist to access the new features, the company said. Atlassian said the new AI features include the ability to extract action items and decisions from a meeting transcript, and draft Tweets and software testing plans based on product documentation. Reporting by Anna Tong in San Francisco; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

☆ Atlassian cuts 5% of head count as the software maker focuses on high-priority areas
▼ + stars: | 2023-03-06 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Business-software maker Atlassian said Monday that it will lay off 500 employees, or around 5% of its workforce. Cuts are not evenly distributed across the company, they wrote in a blog post. Australia's unemployment rate in January was 3.7%, according to government statistics. Australia's unemployment rate in January was 3.7% on a seasonally adjusted basis, according to government statistics. The cost cuts will result in $70 million to $75 million in charges, according to a filing.

☆ Atlassian plummets more than 20% on weak earnings report and disappointing forecast
▼ + stars: | 2022-11-03 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Scott Farquhar, co-founder and co-CEO of the software company Atlassian, speaks during a jobs and skills summit at Parliament House on September 1, 2022 in Canberra, Australia. Here's how the company did:Earnings: 36 cents per share, adjusted, vs. 38 cents per share as expected, according to Refinitiv. 36 cents per share, adjusted, vs. 38 cents per share as expected, according to Refinitiv. Revenue: $807.4 million, vs. $806.4 million as expected, according to Refinitiv. For the fiscal second quarter, Atlassian sees $835 million to $855 million in revenue, below the Refinitiv consensus of $879.2 million.

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