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☆ Disney is ditching Slack after hackers gained access, and some employees aren't happy. Read the CFO's memo.
▼ + stars: | 2024-09-19 | by ( Lucia Moses | Jyoti Mann | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewDisney is gearing up to stop using the messaging platform Slack, causing apparent grumblings in some corners of the company. Some of the workers complained about an apparent plan to transition to Microsoft Teams, a Slack rival, according to the screenshots. Read the full memo from Disney's CFOFellow Employees and Cast Members, Collaboration is at the heart of our employee culture. Our technology teams are now managing the transition off Slack by the end of Q1 FY25 for most businesses, with DX and more complex use cases following in Q2 FY25.

Persons: —, Slack, Hugh Johnston, Oliver Darcy, Disney's Slack, Hugh, they'd Organizations: Service, Business, Disney, Wired, Street Journal, Microsoft Teams, Microsoft

☆ I've let my daughter do the family grocery shopping alone since she was 7. It fosters her independence.
▼ + stars: | 2024-09-19 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

AdvertisementAfter Paige said she wanted to do the grocery shopping, I thought, "I just need to think about the steps here." Grocery shopping has three parts: what you need, where it is, and checking out. She learned the layout of the grocery store and how to use the chip on the credit card. I'm practicing grocery shopping by myself." Grocery shopping is super fun for her.

Persons: —, Russ Perry, Paige, she'll, I've, Rees, Perry, she's, It's Organizations: Service, Business Locations: Arizona

☆ When Bay Area rent got too expensive, I bought a house in the mountains. Living here is a dream, but I'm uncertain about the future.
▼ + stars: | 2024-09-19 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +7 min

I'm the cofounder and CEO of Santa Cruz Fungi. I live in Boulder Creek, California, and my business is headquartered in Santa Cruz. In May 2016, I bought a home for my husband, Paul Lazazzera, and me in Boulder Creek. We married the following year, and Paul started our business in 2021. I had to go over my budget and closed at $535,000 almost a year later on a 740-square-foot house set on half an acre in Boulder Creek.

Persons: —, Katie Sarna, It's, I've, Paul Lazazzera, Paul, Katie, I'd, Shroomsicles, Rida, There's, Lauryn Haas Organizations: Service, Santa Cruz Fungi, Business, lhaas Locations: Santa Cruz, Boulder Creek , California, San Francisco, Boulder Creek, Boulder, Paul, Katie Sarna Boulder, It's, New York City, Francisco

☆ Boeing says it's going to start furloughing 'a large number' of its white-collar employees amid strike
▼ + stars: | 2024-09-19 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

On Wednesday, Boeing announced it will be temporarily furloughing a "large number" of white-collar employees. The news comes after around 30,000 Boeing workers began a strike on Friday after rejecting a new pay contract. "We are initiating temporary furloughs over the coming days that will impact a large number of US-based executives, managers, and employees," Kelly Ortberg, the CEO of Boeing, wrote in an email to employees. In a union vote on September 12, workers voted against an agreement that Boeing and the labor union for machinists and aerospace workers had proposed. Read the full memo Ortberg sent to employees:Team,As you know, the IAM 751 and W24 went on strike last Friday.

Persons: Kelly Ortberg, Ortberg, It's, furloughs, Kelly Organizations: Service, Wednesday, Boeing, Employees, Business Insider, IAM Locations: Boeing's, Pacific Northwest

☆ I take quiet vacations from my $300,000 Wall Street job because the work isn't fulfilling. Here's how I get away with it.
▼ + stars: | 2024-09-18 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with a 42-year-old vice president at a Wall Street bank in New York City. I work in tech for a Wall Street bank, and I quiet vacation. I do the bare minimum work for my Wall Street job because the pay and bonuses aren't as good as they used to beI wanted to work on Wall Street because of the money. Even on Wall Street, it seems like once people fall into a way of thinking, they stick with it their entire lives. On Wall Street, it's more important not to make any mistakes than to see how many hours someone can sit in an office.

Persons: —, I've, he'd, I'm, Lauryn Haas Organizations: Service, Business, Microsoft, lhaas Locations: New York City, Virginia, Atlantic City, Ocean City

☆ A Texas baby boomer who retired at 60 and moved to Mexico says housing, food, and a good life are cheaper, but gas is more expensive
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +7 min

After taking two trips to Puerto Vallarta, Bartmess was convinced it was the perfect place to retire. His first trip to Puerto Vallarta was in 1976, and he said he had fond memories there. He said a fill-up of his Jeep Wrangler costs about $60 in Puerto Vallarta. In retirement, Bartmess has spent more time working on his creative writing, and he takes part in a Puerto Vallarta writers group. Bartmess has lived in Puerto Vallarta for 14 years and said he has no plans to leave.

Persons: —, Geary Bartmess, Bartmess, he's, Geary Bartmess Bartmess, Geary, He'd Organizations: Service, Social Security Administration, Business, Medicare, Puerto Vallarta Locations: Puerto Vallarta, Houston, Mexico, Canada, Japan, Texas, Puerto, American, Camarones

☆ Georgia is rich in EV money and jobs
▼ + stars: | 2024-09-18 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Since 2022, the Peach State has added over 30,000 clean energy jobs, more than any other state, according to a June study by Climate Power, a strategic communications firm. The Bipartisan Infrastructure Law allocated over $175 million toward the EV battery supply chain in Georgia and $135 million over five years toward infrastructure for EV charging stations in Georgia. Investments in EV and battery manufacturing will boost job growth and output in both of these sectors, Benson said. Strong population growth remains a tailwind for Georgia's economic growth and EV industry, Benson said. Between 2021 and 2022, there were 327,795 people who moved into Georgia, according to data from the Census Bureau.

Persons: —, Wells, Jackie Benson, Brian Kemp, It's, Biden, Benson Organizations: Service, Business, Peach State, Climate Power, Investments, Atlanta -, EV, Atlas Public, Environmental Defense Fund, Biden Administration, Law, Infrastructure Law, Hyundai, Kia, The Peach State Locations: Georgia, Wells, Atlanta, Georgia , Alabama, North Carolina, South Carolina, Tennessee, Michigan, West Point , Georgia, Wells Fargo, Florida , Texas , California, California, Texas

☆ When interest-rate cuts will hit credit cards, car loans, and mortgages
▼ + stars: | 2024-09-18 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +6 min

Read previewThe nation's central bank has finally cut interest rates for the first time in over four years. AdvertisementStill, Hamrick said within a day of the Fed's rate cuts, banks will likely adjust their prime lending rates, which will be noticed in credit-card rates "immediately." The Fed rate cuts indirectly affect mortgages, which are generally based on other interest rates that are loosely tied to the Fed funds rate. And when it comes to businesses, rate cuts will have a positive impact on their operations, making it cheaper to take out loans. Are you planning to make any big purchases now that the Fed has cut interest rates?

Persons: —, Mark Hamrick, Erica Groshen, Michele Raneri, Raneri, Hamrick, Elizabeth Renter, Renter Organizations: Service, Federal, Market Committee, Democratic, Fed, Business, Cornell University, Bureau of Labor Statistics, Consumer Financial, TransUnion, asheffey

☆ I turned down a teaching position and became the school lunch lady instead. I love it.
▼ + stars: | 2024-09-18 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

I was a couple of weeks into my new job in the school cafeteria when a first-grader named Olivia approached me with a note. I'm not a disciplinarianI was pleased last Spring when the school asked if I wanted a permanent position. I mostly worked in the middle school, and as we all know, middle school is tough. AdvertisementFiacco was given this heartfelt note from a grateful first grader in the school cafeteria where she works. I ran a successful business, but there I was, about to transition to serving food and mopping floors.

Persons: —, Sarah Fiacco, Olivia, Mrs Fiacco, I'd, She'd, I'm, It's, Fiacco, — Kinsley, Carter, Kendall —, They'll Organizations: Service, Business, US Air Force Locations: Prattville , Alabama, Virginia, Alabama

☆ I got hired at Google without even a high school diploma. Here are my 3 tips for others with nontraditional backgrounds.
▼ + stars: | 2024-09-17 | by ( Robin Madell | ) www.businessinsider.com time to read: +9 min

Read previewThis as-told-to essay is based on a conversation with James Thompson, a 40-year-old strategic partner development manager at Google from London. In 2023, after over two decades of working in the tech and telecommunications industry, I landed a job at Google as a strategic partner manager. I never thought I'd be even considered for a role there because my tech career didn't begin with a traditional background. I dropped out of high school and polytechnicI dropped out of high school at age 17. AdvertisementI've been at Google for just over a year now and my experience has been amazing so far.

Persons: —, James Thompson, It's, I'd, didn't, I've, I'm, it's, Jane Zhang Organizations: Service, Google, Business, Vodafone, Cisco, British Telecom, LinkedIn, Big Tech Locations: London, New Zealand

☆ A millennial couple who moved to South Korea says $400 a month for full-time childcare is a huge perk
▼ + stars: | 2024-09-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

They're learning how to be parents in an unfamiliar environment, but there's one thing that could work in their favor: low childcare costs. The couple then moved to Seoul, South Korea, about two months ago, where they currently reside. "Full-time day care is really cheap," the 38-year-old told BI via email. Between 1983 and 2023, US childcare costs rose over 800% compared to a 300% increase for overall inflation, according to a BI analysis published last year. Are you struggling with high childcare costs?

Persons: —, Chris Oberman, Oberman Organizations: Service, Business, of America, . Bank of America, South Korean Locations: Netherlands, —, Beijing, Shanghai, Erbil, Iraq, Seoul, South Korea, China

☆ I got my green card after working at Microsoft on an H-1B visa. The process was very painful, but I love the US and don't plan to leave.
▼ + stars: | 2024-09-16 | by ( Elle Hardy | ) www.businessinsider.com time to read: +7 min

I applied for a green card after working on my H-1B visa for a year. By this point, I had lived in the US for about six years and created a whole life here, but the green card process was very painful. The process makes life pretty horribleHaving a work visa and going through the green card process are privileges, but it is very hard to separate the emotional component. Luckily, Microsoft paid for the attorneys in the green card process, and no cost came out of my pocket. In 2022, I finally received my green card after three years.

Persons: —, Andres Pico, I'm, Lauryn Haas Organizations: Service, Business, ACT, University of South, of Hispanic Professional Engineers, Virginia Tech, Microsoft, Verizon, Deutsche Bank, Disney, Starbucks, lhaas Locations: Seattle, Manta, Ecuador, University of South Florida, Tampa

☆ Amazon employees blast new RTO policy in internal messages: 'Can I negotiate my manager to PIP me?'
▼ + stars: | 2024-09-16 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Read previewSome Amazon employees took to an internal Slack channel to blast the company after it announced plans to require corporate employees to work in the office five days a week. One staffer was so upset they issued a plea to Business Insider, which has covered Amazon's RTO crackdown extensively. Other Amazon workers weighed in, too, on a company Slack channel dedicated to RTO-related topics. Amazon's RTO policy was already strict, but Jassy just doubled down hard on the company's in-office approach. "Can I negotiate my manager to PIP me," one employee wrote in reference to Amazon's famously ruthless performance improvement plan.

Persons: —, Andy Jassy's, Slack, It's, Jassy, Amazon's, Andy Jassy, Jeff Bezos's, Bezos, Ashley Stewart Organizations: Service, Business, Google, Amazon

☆ Welcome to interest-rate cut week: Here's how the Fed's next move will impact everything from home prices to new cars loans
▼ + stars: | 2024-09-16 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

According to CME FedWatch, which estimates interest rate changes based on market predictions, the size of the rate cut is a coin toss. As of Friday afternoon, there's a 51% chance the Federal Reserve will cut rates by 25 basis points and a 49% chance it'll be an extra-large 50-basis-point cut. That's because a larger rate cut makes borrowing cheaper, which tends to drive up spending and fuel price increases. Rate cuts will also eventually make it cheaper for small businesses to take out loans. A rate cut could cause a rush of buyers to enter the market in the short term, driving up prices and competition.

Persons: Jerome Powell, Michael Madowitz, she's, McTier, it'll, Mark Hamrick, Banks, Hamrick, NerdWallet, Sara Rathner Organizations: Service, Federal, CME FedWatch, Federal Reserve, Business, Washington Center for Equitable Growth, Fed, Consumer Financial, Bureau, asheffey Locations: Jackson Hole , Wyoming, McTier

☆ A Gen Xer shares the saving strategy that grew his net worth from $50,000 to $1 million in 15 years
▼ + stars: | 2024-09-16 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Read previewTodd, a 53-year-old IT professional based in Nashville, had a long journey to a six-figure salary. However, for many Americans, reaching a six-figure income could still have a significant impact on their lives. Todd shared how he's turned his six-figure salary into a $1 million net worth — and why he plans to extend his working years longer than he might need to. When Todd landed a six-figure income — and his financial circumstances began to change significantly — he didn't go on a spending spree. He hopes to pay off his mortgage before age 60 — his goal retirement age.

Persons: —, Todd, he'd, I'm, doesn't, he's, I've, Roth Organizations: Service, Business, Cisco, BI, New, Fed, American Express Locations: Nashville

☆ A millennial moved to the Netherlands from Texas and traded a 6-day workweek for a 4-day one. He earns less but says he is happier.
▼ + stars: | 2024-09-15 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

Read previewKeiland Smith loved his job as the director of a chiropractic practice, but he felt exhausted by the 6-day workweek. They love life in the Netherlands and now Smith has more control over his schedule, often working four days a week. When a previous mentor contacted him about working as a chiropractor in the Netherlands, Smith became intrigued. He earns about $72,000 (€65,000) annually in the Netherlands, which is less than the six figures he made in Texas. AdvertisementBeyond work, Smith said he feels healthier in the Netherlands than he did in Texas.

Persons: —, Keiland Smith, — Smith, Smith, he's Organizations: Service, Business, Voting, University of South, Parker University, Medical City Hospital, Keiland Smith Learning Locations: Grand Prairie , Texas, Dallas, Fort Worth, Europe, France, Spain, Netherlands, Bodegraven, Amsterdam, Texas, California, Florida, University of South Florida, Austria, Dutch, Grand Prairie, Czech Republic, American

☆ My dad sacrificed everything to retire early — only to die before he could enjoy it. I'll never recommend early retirement to anyone.
▼ + stars: | 2024-09-15 | by ( Rebekah Sanderlin | ) www.businessinsider.com time to read: +9 min

But his plan had always been to retire early. At 50, he could retire early, and have plenty of time to do whatever he wanted. AdvertisementThe author wearing the diamond studs her father bought for her, which she almost never takes out. That old designer diaper bag now serves as my laptop bag, a reminder of everything I learned from my dad. I plan to slow down as I age, but I don't plan on ever retiring.

Persons: —, I've, Rebekah Sanderlin, would've, hadn't, wouldn't, he'd, Christal Marshall, I'm, Jane Zhang Organizations: Service, Business, Sam's Club, Affordable, Medicare Locations: Hawaii

☆ More Gen Zers are ditching college, and they want better guidance on how to succeed without it
▼ + stars: | 2024-09-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Despite not having a high school diploma or college degree, he started multiple successful businesses that allowed him to financially support his family. During her senior year of high school, Wakeham was struggling to decide on her post-graduation route. US Census Bureau data found the enrollment rate of high school graduates at 61.4% in October 2023 was slightly down from 62% in 2022. Indeed, even as some Gen Zers don't think college is the best path for them, recent data has shown that college continues to provide long-lasting benefits when it comes to careers and earnings. Some high schools have shifted to place a greater emphasis on alternative routes since the pandemic.

Persons: LeLaina Wakeham, Wakeham, didn't, Zers, Zach Hyrnowski, Hyrnowski, we've, Hrynowski, that's, Hannah Maruyama, Maruyama, Jared Polis, — she's Organizations: Service, Business, Gallup, Walton Family Foundation, Colorado Gov, Bureau of Labor Statistics, Reinventing Public Education, roundtables Locations: Mexico, New England

Many said he failed to acknowledge the real reason many grandparents don't help with childcare more: They can't afford to. Many American families are stuck between a retirement crisis and a childcare crisis, with young parents unable to help their own parents — and vice versa. The childcare crisis meets the retirement crisisSandra, 51, has been dealing with both childcare and eldercare challenges over the past year. "And that would help parents who want to stay home and care for kids; it would also help grandparents who want to help care for kids while their parents are working." AdvertisementRachidi also said that revisiting the usefulness of regulations around informal care — settings like friend and family care — should be on the table, too.

Persons: Linda C, Donald Trump, Joe Biden, Sen, JD Vance, Linda, I'd, Vance, Trump, she's, —, Taylor Van Kirk, Van Kirk, Sandra, grandpa, Elliot Haspel, Haspel, Kamala Harris, Jennifer Baker, they'd, that's, Baker, who's, Angela Rachidi, Rowe, Rachidi, Connie Adler, Adler, Vance's Organizations: Service, Democratic, Business, AARP, Capita, American Enterprise Institute, asheffey Locations: California, Sweden, Arizona

☆ Welcome to a new era of work: The portfolio career
▼ + stars: | 2024-09-14 | by ( Madison Hoff | ) www.businessinsider.com time to read: +9 min

But around a year and a half ago, she decided to pursue what she calls a "portfolio career." Anna Mackenzie has a portfolio career and likes the variety of gigs she can do with this type of work. Mackenzie SweetnamJanel Abrahami, who also has a portfolio career, doesn't see workers going back to how work was before the pandemic. Some people may take on a freelance job or work more than one job to kick off their portfolio career. AdvertisementThe pros and cons of a portfolio careerMackenzie and Abrahami both think a portfolio career isn't for everyone.

Persons: —, Anna Mackenzie, Mackenzie, Mackenzie Sweetnam Janel Abrahami, doesn't, it's, divesting, Abrahami, Janel Abrahami, Janel Abrahami Mackenzie, who've, who's, " Mackenzie Organizations: Service, Business Locations: New Jersey, Australia

☆ I'm 43 and my honeymoon was the only time I traveled without my parents. Now that I'm divorced, I'm trying solo travel.
▼ + stars: | 2024-09-13 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

The one time she didn't join me was the honeymoon I spent with my former husband in 2008. I never went on vacation with girlfriendsBefore and after my marriage, I spent every break with the people who raised me. Around his mid-50s, he decided he didn't like traveling much and generally preferred to stay at home. But Mom went ahead and enjoyed herself, thinking it was funny. Meanwhile, I'm turning 44 in November and have decided to celebrate with a trip to Bali.

Persons: —, Minreet Kaur, I'd, I've, Kaur, We've, Mom, I'm Organizations: Service, Business Locations: Sri Lankan, Kandy, North Wales, Canada, India, Europe, Valencia, Las Vegas, Abu Dhabi, Cyprus, Sri Lanka, Japan, Bali

☆ I insisted on a prenup with my future husband. I make more than him and want to protect my assets.
▼ + stars: | 2024-09-13 | by ( Jen Glantz | ) www.businessinsider.com time to read: +6 min

I heard stories from other entrepreneurs about how they built a business, got married without a prenup, and later divorced. I promised myself that when I met my future partner, we'd sign a prenup before we married. You hear stories of people being offended by the idea of a prenup, but my fiancé didn't care at all. AdvertisementWhile I'm excited to share my money and assets with my partner and plan to split our bills and expenses, I still want to protect my assets if something happens. My fiancé decided not to get his own attorneyWhile I chose to hire a lawyer, my fiancé decided not to hire his own.

Persons: —, Ashley Mason, That's, I've, fiancé, we've, Prenups aren't, We're, we're, Lauryn Haas Organizations: Service, Business, lhaas Locations: Massachusetts

☆ I quit my high-paying finance job to start a bakery. I wanted more time with my kids.
▼ + stars: | 2024-09-12 | by ( Jane Ridley | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In 2004, my mind wandered while sitting in a sales meeting as part of my finance job. I earned a good salary and worked with my father, an investment banker, but I wasn't fully present. AdvertisementThere's immense pressure in America to go fast, fast, fast, bigger, bigger, bigger. Who cares how many hours you've worked and how successful you've been?

Persons: —, Carrie Morey, I'd, you've, it's, Caroline, John, Mom, she'd, caterer, — it's, Cate, Sarah, They'd Organizations: Service, Business, Foods, Costco Locations: Charleston , South Carolina, New York, America

☆ Jensen Huang's 14-hour days and workaholic lifestyle helped him turn Nvidia into an AI powerhouse
▼ + stars: | 2024-09-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +6 min

He told last year's New York Times DealBook Summit: "I don't wake up proud and confident — I wake up worried and concerned." That's because Nvidia almost went bankrupt in the late 1990s — a memory he says is hard to shake off. Huang works holidays but finds it relaxingNvidia CEO Jensen Huang. On the "20VC" podcast in March, Tangen said Huang told him, "'Nicolai, there is hard work and then there's insanely hard work.'" When I'm not working, I'm thinking about working, and when I'm working, I'm working.

Persons: —, Jensen Huang, Huang, Mohd Rasfan, Huang doesn't, Nicolai Tangen, Tangen, Nicolai, I'm, David Solomon, Goldman Sachs, Huang's, Michael M, That's Organizations: Service, Nvidia, Financial Times, Business, New York Times DealBook, Microsoft, Apple, Getty, Norges Bank Investment Management, Technology Conference, Stripe's Sessions, Big Tech, CNN, Forbes, Stripe Sessions, Stanford School of Business, Stanford University Locations: AFP

☆ Small business owners could be poised for a 1990s-like boom
▼ + stars: | 2024-09-11 | by ( John Towfighi | ) www.businessinsider.com time to read: +6 min

This has spiked the interest rates small business owners are paying on new mortgages, credit, and loans. Related storiesPowell said that small business owners are poised to benefit regardless of the size of the cut and should remain hopeful about future growth. According to the National Federation of Independent Businesses, small business confidence dipped in August. AdvertisementHe said small businesses tend to be more credit-constrained, so changes in interest rates are particularly influential for business owners' management decisions. Are you a small business owner who has experienced a recent change in sales or hiring?

Persons: —, Phil Powell, it's, Powell, Jerome Powell, Sean Higgins, Higgins Organizations: Service, Federal Reserve, Business, Indiana Business Research Center, Indiana University Kelley School of Business, Federal Open Markets, Treasury Department, National Federation of Independent Businesses, Kellogg School of Management, Northwestern University

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