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☆ Big Tech is pursuing 'the year of efficiency.' It could get supercharged by AI.
▼ + stars: | 2023-04-30 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: Why Big tech's new focus on efficiency could have far-reaching impacts. Tech jobs aren't coming backTech giants have been slashing jobs. Companies from Meta to Salesforce have cut jobs in the recent months in the pursuit of efficiency and profit margins. Also read:Whistleblower docs: Jane RobertsSupreme Court Justice Chief Justice John Roberts and his wife Jane Roberts arrive for a 2018 State Dinner at the White House. At least one of those firms argued a case before the chief justice after paying his wife hundreds of thousands of dollars.

☆ Inside the AI talent wars: Tech companies are ransacking university AI programs at Stanford, MIT, and Cornell in search of engineers
▼ + stars: | 2023-04-24 | by ( Stephanie Palazzolo | Melia Russell | ) www.businessinsider.com time to read: +11 min

Driven by the recent AI boom, companies are raiding top college campuses for rare technical talent. She's currently on leave from her Stanford AI Ph.D. program to focus on Moonhub. In 2011, new AI Ph.D. graduates took jobs in the tech industry and academia in about equal measure. But since then, the majority of new grads have headed to the AI industry, with nearly double the percentage of AI Ph.D. grads taking industry jobs versus academic roles in 2021, according to Stanford's Institute for Human-Centered AI's 2023 AI Index Report. "All AI companies have roles for people with Ph.D.s and without," said Attaluri, the soon-to-be researcher at DeepMind.

☆ Inside the AI talent wars: Tech companies are ransacking university AI programs at Stanford, MIT, and Cornell in search of rare talent
▼ + stars: | 2023-04-12 | by ( Stephanie Palazzolo | Melia Russell | ) www.businessinsider.com time to read: +11 min

☆ Inside the 5-hour psychological interview that can make or break your career at Citadel, Blackstone, and other finance titans
▼ + stars: | 2023-04-10 | by ( Emmalyse Brownstein | Alex Morrell | ) www.businessinsider.com time to read: +16 min

ghSmartThe company's unusual but rigorous approach to screening job candidates has won it the trust of some of the finance industry's most competitive and coveted workplaces, as well as other blue-chip corporations. "That became the kernel for ghSmart," Smart recounted in a podcast interview. That means the ghSmart interview isn't something you can necessarily prepare for in the same way you might, for example, read up on certain stocks or industry trends. The company's team of psychologists spends hours drilling into each candidate's job and life experiences. Unlike some executive-search firms, ghSmart disconnects its fee from whether it fills the role.

☆ Recruiters worldwide are inundated with calls from anxious Credit Suisse bankers seeking new jobs amid the UBS takeover, report says
▼ + stars: | 2023-03-21 | by ( Kate Duffy | ) www.businessinsider.com time to read: +3 min

Credit Suisse staff have swamped recruiters across the globe amid the UBS deal, per Bloomberg. It said one recruiting firm had 30 calls on Monday, while another spoke to 20 bankers since last week. The day after Credit Suisse and UBS announced the acquisition deal, a recruiting firm in Singapore received around 30 inquiries from mostly Credit Suisse private bankers, the people told Bloomberg. A headhunter based in London told Bloomberg that Credit Suisse staff flooded him with calls over the weekend. They added that Credit Suisse will "do everything we can to ensure an orderly transition and to serve our clients as best as possible."

☆ Credit Suisse's investment bankers are so concerned about cuts, employees are being told to look for new jobs. 'They encouraged it.'
▼ + stars: | 2023-03-20 | by ( Carter Johnson | Casey Sullivan | Dakin Campbell | ) www.businessinsider.com time to read: +12 min

The fate of Credit Suisse's investment bank hangs in the balance after being sold to UBS. The investment bank's planned spinoff has been put on hold and bankers are bracing for job cuts. People said they expect Credit Suisse's planned spinoff of its investment banking operations, announced last year, to be scuttled. Over at 11 Madison Ave., where Credit Suisse's NY operations are headquartered, emotions were running hot on Monday. Now, the proposed CS First Boston deal hangs in the balance, with both industry experts and Credit Suisse employees uncertain whether it will go through.

One recruiter told Insider they'd seen an influx of resumès of a similar scale to the 2008 financial crisis. Executives looked 'very downbeat' at an all-company meetingHeadquartered in Zurich, Credit Suisse has a large presence in Europe. A European-based headhunter told Insider they'd "heard there were some tears" from Credit Suisse veterans about the prospect of the bank's takeover. As Credit Suisse's outflows accelerated over recent months, it appears its employees have hunted for other postings. One industry headhunter in the UK said their desk has piled up with job applications from Credit Suisse workers for around a month.

☆ Russia's Ozon intends to stay public as Nasdaq starts delisting process
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

Nasdaq suspended trading in the securities of a number of companies operating in Russia on Feb. 28, 2022, days after Moscow despatched tens of thousands of troops to Ukraine. On Wednesday, the exchange notified a handful of Russian companies of delisting plans. "Going forward, and in any scenario, we act in the interests of our investors," Ozon said in a statement. Ozon raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked a mini-IPO boom for Russian firms. Internet giant Yandex (YNDX.O), recruiter Headhunter (HHR.O) and payment service provider Qiwi (QIWI.O) were also notified of their anticipated delisting from Nasdaq, the companies said.

Some hedge funds, wealth managers, and asset managers are still hiring. Recruiters told us what roles are in demand and what skills can help you land them. Big-name hedge funds like Citadel, D. E. Shaw, and Millennium Management posted double digits in a year that many other investment managers would rather soon forget. Alternative asset managers, meanwhile, are hiring in the private-wealth-management businesses they've spent recent years building out. … if you're in or interested in wealth managementDespite the market downturn, wealth managers are in high demand.

☆ A Google recruiter says he discovered he'd lost his job after a call with one of his candidates suddenly disconnected
▼ + stars: | 2023-01-26 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

A Google recruiter said he learned he'd lost his job after a call with one of his candidates disconnected. Laid-off Google staff have criticized the abrupt and impersonal manner in which they were terminated. Lanigan-Ryan had been working on contract for headhunter Morgan McKinley at Google's office in Dublin, Ireland, since November 2021. He said that although he was paid by Morgan McKinley, "for all intents and purposes, I was a Google team member." She then saw a pop-up on her laptop with information about severance and "immediately lost access to everything," she said.

Some hedge funds, wealth managers, and asset managers are still hiring. Layoffs across industries have been dominating headlines in January, and Wall Street has been no exception. Big-name hedge funds like Citadel, D. E. Shaw, and Millennium Management posted double digits in a year that many other investment managers would rather soon forget. Alternative asset managers, meanwhile, are hiring in the private-wealth-management businesses they've spent recent years building out. Emily Landon, the CEO of the Chicago-based headhunting firm The Crypto Recruiter, pointed to the job board Crypto Careers, which has over 2,400 openings.

☆ In 2023, cash is king for tech execs
▼ + stars: | 2023-01-13 | by ( Asia Martin | ) www.businessinsider.com time to read: +3 min

Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Now, insiders say they expect tech companies to issue more stock and cash incentives to keep their c-suite intact too. In 2023, insiders say tech companies will be looking to structure long-term deals with payouts for longevity as a way to induce exec loyalty. Tech companies doled out additional shares to shore up employees whose stock lost its value last year, so much so that investors worried about future returns. Deepali Vyas, a top headhunter at Korn Ferry, told Insider there's going to be a recalibration of exec cash compensation downward to a level that reflects where valuations are today.

[1/2] People work on the trading floor at the global headquarters of Goldman Sachs investment banking firm at 200 West Street in New York City, U.S., January 11, 2023. The Wall Street titan's rivals have also started to cut jobs as global banks prepare for recession and broader, deeper cuts are expected across the industry if deal-making activity remains weak. The long-expected jobs cull at Goldman follows a recruitment drive during the pandemic, which saw the bank's total headcount top 49,000. Johnson, who was with Goldman Sachs for more than six years, declined to comment. Oliveira said some bankers who have reached out to recruiters like him are considering ditching investment banking for other positions.

☆ Elon Musk's Tesla, the world's leading EV maker, is capping off 2022 as one of the S&P 500's worst-performing stocks.
▼ + stars: | 2022-12-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

But to Musk, prices have already started dropping, which eliminates the need for the Fed to keep rates so high. If it was all [interest] rates, NDX would be down a similar amount," Black tweeted at Musk. Ultimately, Tesla investors shouldn't feel alone in their pain amid downtrodden stock prices this year. How has your view of Tesla stock changed since October? Their managers told us how they overcame a brutal year for the stock market, and shared the stock picks that worked best.

☆ Life at Wall Street headhunting firm Durlston Partners appeared picturesque, but some insiders say that wasn't the reality
▼ + stars: | 2022-12-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

Life at Durlston Partners. Insider's Alex Morrell has a gripping report on life at Durlston Partners, a headhunting firm that places talent at some of Wall Street's biggest buy-side firms. Durlston Partners, or "DP" as it was known within the company, promoted an unbeatable culture. Click here to read more about life inside Durlston Partners and allegations about the leadership of Bahram. Jamie Dimon's 17-year tenure on the top of JPMorgan has made him the face of Wall Street.

☆ Behind a Wall Street headhunter's rapid ascent lie accusations of harassment and abuse
▼ + stars: | 2022-12-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +38 min

"It was a complete whirlwind, and it felt too good to be true," Morrison told Insider. "Everyone is given a calendar reminder of when they have to submit a review," one former employee told Insider. Durlston told Insider she wasn't a credible source given the acrimonious nature of her departure from Durlston. "Everyone gets pretty loose at these events," a former employee told Insider, noting the availability of alcohol throughout the day. Bahram told Insider this was not a prohibition but merely a suggestion that it would not be an appropriate arrangement.

Reuters could not immediately establish if the deaths were due to COVID. The NHC also reported 1,995 symptomatic infections for Dec. 18, compared with 2,097 a day earlier. A hashtag on the two reported COVID deaths quickly became the top trending topic on China's Twitter-like Weibo platform on Monday morning. But it is not just the elderly that are wary of vaccines in China. While China's medical community in general doesn't doubt the safety of China's vaccines, some say questions remain over their efficacy compared to foreign-made mRNA counterparts.

☆ 'I don't trust it:' Vaccine hesitancy lingers even as China COVID cases surge
▼ + stars: | 2022-12-19 | by ( David Kirton | ) www.reuters.com time to read: +4 min

"I don't trust it," she said, speaking on the condition that only her first name be used. It has also yet to introduce its own version of an mRNA vaccine. "At least a half of doctors and educated people wanted to get the mRNA ones and refused to get the Chinese ones," Lei said. "After a while, people see no hope and also they are kind of forced to get the Chinese ones, so they had to accept it. Lei said many of her friends are looking to visit the neighbouring Chinese territory of Macau, where mainlanders can receive mRNA vaccines.

☆ Tech workers who just lost their jobs are prime targets for recruiters right now. Here's how to stand out and get the job you really want.
▼ + stars: | 2022-11-17 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +3 min

Layoffs are sweeping tech, leaving thousands of people at the likes of Twitter and Meta out of work. If you've lost a job, here's how to attract recruiters who can place you in roles you want. If you've recently been let go — and even if you haven't — you might already be fielding messages from recruiters. But it helps to know how to attract the attention of recruiters who can place you in the positions you really want. The more time you spend thinking about what kind of role you'd want next, the easier it will be to direct any recruiters who get in touch.

Yet the situation is not dire: tech job postings rose over 3% from September to October, data shows. In the tech industry, as of October, the unemployment rate stood at 2.2%, whereas the national unemployment rate was 3.7%. Andrew Flowers, the lead labor economist at Appcast, a software company that helps companies with their recruiting, said his "sense is that these factors hurt tech companies but not tech workers." "The outlook for tech occupations is much stronger than the outlook for the tech industry," he said. Artificial intelligence, cybersecurity, and cloud-computing skills are the top in-demand skills in the tech industry, according to a September analysis by Indeed.

☆ Nike execs have become some of the hottest hires in sportswear, triggering a talent war among rivals like Lululemon, North Face, and Columbia — and raising fears of a brain drain
▼ + stars: | 2022-11-07 | by ( Matthew Kish | ) www.businessinsider.com time to read: +9 min

Nike alums lead numerous brands, including Lululemon, Allbirds, Columbia Sportswear, and The North Face. Tim Sheerin, the senior vice president of global wholesale at Columbia Sportswear, at an investor day event this year. The trend has accelerated in recent years, with competing sportswear companies including Lululemon and Allbirds opening offices in Portland, Oregon. While sportswear companies are a natural fit for former Nike executives, nonathleticwear companies also have hired from Nike's top ranks. Crocs, which named the former Nike vice president Emma Minto the senior vice president of the Americas in 2020, also has been on a hot streak.

☆ HSBC ditches its cost-cut tsar before job is done
▼ + stars: | 2022-10-25 | by ( Liam Proud | ) www.reuters.com time to read: +3 min

LONDON, Oct 25 (Reuters Breakingviews) - HSBC (HSBA.L), (0005.HK) boss Noel Quinn is getting rid of a cost-cutting finance chief, Ewen Stevenson, while his skills are still in need. The former Royal Bank of Scotland chief financial officer and Credit Suisse (CSGN.S) banker only started as HSBC CFO in January 2019. HSBC has so far managed to axe about $4.9 billion of gross annual expenses under a programme launched in early 2020. To keep HSBC’s investors happy, Elhedery will have to do his best impersonation of the bank’s outgoing cost-cutting tsar. Reuters GraphicsFollow @liamwardproud on TwitterloadingCONTEXT NEWSHSBC on Oct. 25 appointed Georges Elhedery as chief financial officer.

☆ Top media recruiters and Hollywood insiders reveal the entertainment jobs in demand now and which companies are hiring in an 'awful' job market
▼ + stars: | 2022-10-17 | by ( Elaine Low | ) www.businessinsider.com time to read: +4 min

The typical fall "hiring boom" in the entertainment industry, especially at the big streamers, is quieter this year. Recruiters and job seekers said the job market is slow, though data and analytics pros are still in demand. Autumn is typically ripe for hiring in Hollywood. "The streamers are always in a hiring boom this time of year but you're not seeing that anymore." Data and tech jobs are still hot, said Sucherman, calling it a sector of the entertainment industry "that is expanding, not contracting."

☆ Hollywood streamers' typical fall 'hiring boom' is much quieter this year. Here's where the jobs are now and when hiring will pick up again.
▼ + stars: | 2022-09-23 | by ( Elaine Low | ) www.businessinsider.com time to read: +4 min

Fall is usually a busy time for hiring in the entertainment industry, especially at the big streamers. Here's why there's a slump and when hiring is likely to pick up again. "The streamers are always in a hiring boom this time of year but you're not seeing that anymore." "Fall is usually busy — you can usually mark the seasons," said entertainment headhunter and former E! Data and tech jobs are still hot, said Sucherman, calling it a sector of the entertainment industry "that is expanding, not contracting."

☆ $14 billion hedge fund Schonfeld is focused on hiring as underperforming shops face a shakeout
▼ + stars: | 2022-09-19 | by ( Alyson Velati | ) www.businessinsider.com time to read: +4 min

The hedge fund industry in the early days of a consolidation wave, according to headhunter Ilana Weinstein. The writing is on the wall for hedge funds whose performance have taken massive hits over the last few months. The S&P 500 and the average hedge fund, according to Hedge Fund Research, dropped 18% and 4% year to date, respectively. To stay competitive amid consolidation in the hedge fund industry, Tolkin said $14.1 billion Schonfeld Strategic Advisors is looking to attract talent from different backgrounds and that can provide different ideas. This will help the firm become one of the "winners" amid the industry consolidation, Tolkin said.

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