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☆ A tech CEO apologized for quoting Martin Luther King Jr. when announcing layoffs, calling it 'inappropriate and insensitive'
▼ + stars: | 2023-02-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

PagerDuty's CEO has apologized for quoting Martin Luther King Jr. in an email about mass layoffs. The quote was "inappropriate and insensitive" and the email's tone was wrong, CEO Jennifer Tejada said. "It is unbelievably callous to announce layoffs and the promotion of executives in the same email," one person wrote on Twitter. "The quote I included from Dr. Martin Luther King, Jr. was inappropriate and insensitive. I should have been more upfront about the layoffs in the email, more thoughtful about my tone, and more concise.

Amazon, Microsoft, and Google announced layoffs of a total of 40,000 employees this week. Tech companies embarked on a massive hiring spree as the Covid-era made their products the backbone of the world's remote-working offices. The era of tech companies spending like rock stars is overOver the last decade Big Tech companies spent money "like 1980's rock stars," wrote Dan Ives, managing director at the investment firm Wedbush . On the other end, tech companies may look much different this decade as they did in the last. As companies like Google, Amazon, and Microsoft cut costs, they'll find ways to operate leaner, and their stock prices will stabilize.

☆ Brooklyn hospital network reverts to paper charts for weeks after cyberattack
▼ + stars: | 2022-12-20 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +3 min

New York CNN —A network of three hospitals in Brooklyn, New York, has had to work off paper charts for weeks following a cyberattack on its computer systems in late November, the hospital group’s chief executive told CNN Monday. The hack affected “clinical applications,” including “those used for imaging and other critical services,” but many of those applications have been restored, One Brooklyn Health CEO LaRay Brown said in an email. One Brooklyn Health operates Brookdale University Hospital Medical Center, Interfaith Medical Center and Kingsbrook Jewish Medical Center. “No patients were adversely effected,” Brown told CNN in an email Monday, adding that the hospitals remain open to patients. Brookdale Hospital is located in the Brownsville neighborhood of Brooklyn, one of the poorest areas in New York City.

☆ Sam Bankman-Fried's FTX had the corporate governance of a college fraternity, congressman says
▼ + stars: | 2022-12-15 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

A congressman likened collapsed exchange FTX's corporate governance to a college fraternity. "It would be laughable were it not so serious," congressman Ritchie Torres said. In reality, the company was more like a college fraternity, congressman Ritchie Torres says, with haphazard and reckless bookkeeping practices. "FTX had the corporate governance of a fraternity," Torres, a member of the House Financial Services Committee, told Coindesk TV on Wednesday. The now-bankrupt exchange used QuickBooks, an accounting software generally used by smaller businesses, not multi-billion dollar companies.

☆ Elon Musk said Twitter will start showing users how many people have seen their tweets, and got Jack Dorsey's approval
▼ + stars: | 2022-12-09 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Elon Musk tweeted that Twitter will introduce a new feature showing "view count" on tweets, soon. Musk says he wants to improve transparency around so-called "shadow banning" on the site. Musk tweeted: "Tweets will show view count in a few weeks, just like videos do. Musk was responding to a thread discussing the issue of shadow banning on Twitter. Musk tweeted later that the group often made controversial decisions "without getting Jack's approval," who has "a pure heart imo."

☆ Dozens of fired Meta employees are writing heart-wrenching 'badge posts' on social media
▼ + stars: | 2022-11-11 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Meta employees who were laid off this week are writing "badge posts" on LinkedIn to share memories. A "badge post" is a tradition where departing Meta employees post their ID with a goodbye message. "Not the badge post I ever imagined doing," former Meta technical sourcer Kate Greentree wrote on LinkedIn. Not all "badge posts" from former Meta staff were so positive, however. Here's a round-up of LinkedIn "badge posts" uploaded by people who were laid off from Meta:

☆ Jeff Bezos made housekeepers go 'without rest or meal breaks' and work in 'unsafe and unsanitary' settings, suit says
▼ + stars: | 2022-11-03 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | David K. Li | ) www.nbcnews.com time to read: +3 min

Amazon founder Jeff Bezos subjected housekeepers to "unsafe and unsanitary" conditions, barring them from rest breaks and easy access to bathrooms, according to a lawsuit filed in Seattle this week. The civil action by Mercedes Wedaa also accused Bezos' subordinates of racial discrimination against Hispanic houseworkers in favor of their white counterparts. In addition to extended work shifts that went as long as 14 hours with no breaks, there was "no reasonably accessible bathroom for the housekeepers," the lawsuit said. The lawsuit later claimed that housekeepers "frequently developed Urinary Tract Infections (UTIs)" due to not having easy access to restrooms. Bezos has a network of about $113 billion and is the world's fourth richest man, according to Forbes magazine.

The watchdog's latest annual report said it had 72 open insider dealing cases as of 31 March 2022, compared to 71 the prior year. It had 88 open insider dealing cases as of March 2020, before the pandemic gripped Britain. Stamping out market abuse such as insider dealing – trading a company's publicly-quoted securities with access to confidential, market-moving information - is a key enforcement area for the FCA. The FCA said the insider dealing arrests and searches disclosed to Reuters related to suspect activity both before and after March 2020, when Britain first imposed COVID-19 lockdowns. The watchdog added they were unrelated to four insider dealing prosecutions it had commenced since March 2020.

☆ Hurricane Ian flooded a hospital's lower floor and tore its ICU's roof off, forcing staff to evacuate its sickest patients
▼ + stars: | 2022-09-29 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

A doctor at a hospital in Florida told the Associated Press that Hurricane Ian blew its roof off. The destruction forced staff to evacuate their sickest patients, some of whom were on ventilators. The doctor, who stayed overnight, told AP that patients have been moved to other floors. The damage forced staff to evacuate the hospital's sickest patients from the fourth floor to the two floors that were not impacted, Bodine told AP. On Thursday morning, Hurricane Ian downgraded to a tropical storm, according to the National Hurricane Center.

☆ Wall Street banks including Bank of America and Goldman Sachs fined $1.8 billion over failures in monitoring how staff used personal phones to talk about work
▼ + stars: | 2022-09-28 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Wall Street banks have been fined for not monitoring how staff use their phones to talk about work. The offences involved employees ranging senior executives to debt and equity traders. The offences involved employees ranging from supervisors and senior executives to junior investment bankers and debt and equity traders. This included one senior investment banker who had sent and received "tens of thousands" of off-channel text messages, concerning things including investment strategy and client meetings, the SEC said. Each company had failed to retain "hundreds if not thousands of business-related communications," including some connected to their commodities and swaps businesses, the CFTC said.

☆ U.S. fines 16 Wall Street firms $1.8 bln for talking deals, trades on personal apps
▼ + stars: | 2022-09-27 | by ( Michelle Price | ) www.reuters.com time to read: +4 min

Sept 27 (Reuters) - U.S. regulators on Tuesday fined 16 financial firms, including Barclays (BARC.L), Bank of America , Citigroup , Credit Suisse (CSGN.S), Goldman Sachs , Morgan Stanley and UBS (UBSG.S), a combined $1.8 billion after staff discussed deals and trades on their personal devices and apps. Register now for FREE unlimited access to Reuters.com RegisterThe institutions did not preserve the majority of those personal chats, violating federal rules which require broker-dealers and other financial institutions to preserve business communications. The failings occurred across all 16 firms and involved employees at multiple levels, including senior and junior investment bankers and traders, the SEC said. In one example cited by her office, Bank of America staff used WhatsApp, with one trader writing: "We use WhatsApp all the time but we delete convos regularly." The head of a trading desk routinely directed traders to delete messages on personal devices and to use Signal, including during the CFTC's probe.

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