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Facebook Conducts 'Quiet Layoffs' By Urging Managers To Identify Certain Number of Workers as UnderperformingPosted by msmash on Thursday October 06, 2022 @10:00AM from the market-condition-worsening dept.Mark Zuckerberg and other Facebook leaders have given many hints that a reorganization is coming. Now, a specific number of workers are to be deemed "needs support," Insider has learned. From the report:CitarThe company is already telling some to find other jobs, leaving workers to call it "quiet layoffs." It told staff last week in a weekly Q&A with CEO Mark Zuckerberg that it was extending a hiring freeze that's been in place since May. Just before this meeting, executives told directors across the company that they should select at least 15% of their teams to be labeled as "needs support" in an internal review process, one of the people who spoke with Insider said.All the workers asked not to be identified discussing nonpublic information. This was also discussed last week in a post from a Meta worker on Blind, an app popular with tech workers that requires a valid company email address to use anonymously. "These 15% will likely be put on PIP and be let go," the person wrote. The post prompted hundreds of comments from many other Meta workers who debated how many people would be let go. In Facebook's employee-review process, someone deemed in need of support is ostensibly dipping below performance goals. It is broadly seen by workers as a "performance-improvement plan," or PIP, and a precursor to losing your job. In July, Maher Saba, Meta's head of engineering, told managers they needed to identify everyone on their teams who fell into the "needs-support" category but did not specify a percentage of people who should be labeled that way.
The company is already telling some to find other jobs, leaving workers to call it "quiet layoffs." It told staff last week in a weekly Q&A with CEO Mark Zuckerberg that it was extending a hiring freeze that's been in place since May. Just before this meeting, executives told directors across the company that they should select at least 15% of their teams to be labeled as "needs support" in an internal review process, one of the people who spoke with Insider said.All the workers asked not to be identified discussing nonpublic information. This was also discussed last week in a post from a Meta worker on Blind, an app popular with tech workers that requires a valid company email address to use anonymously. "These 15% will likely be put on PIP and be let go," the person wrote. The post prompted hundreds of comments from many other Meta workers who debated how many people would be let go. In Facebook's employee-review process, someone deemed in need of support is ostensibly dipping below performance goals. It is broadly seen by workers as a "performance-improvement plan," or PIP, and a precursor to losing your job. In July, Maher Saba, Meta's head of engineering, told managers they needed to identify everyone on their teams who fell into the "needs-support" category but did not specify a percentage of people who should be labeled that way.
Se nota el nerviosismo en el ambiente del sector, sí...https://www.eleconomista.es/vivienda-inmobiliario/noticias/11978433/10/22/El-mercado-inmobiliario-global-se-acerca-al-precipicio-la-vivienda-se-enfrenta-a-un-cambio-de-ciclo-drastico.htmlCitar[...]La locura de Reino UnidoDesde el think tank británico Cebr advierten en una nota que el caso del Reino Unido las tasas hipotecarias medias alcanzarán máximos no vistos en más de 20 años a mediados de 2023. Por ahora se han disparado hasta el 6%. En consecuencia, se espera que el crecimiento anual del precio de la vivienda entre en territorio negativo durante la primera mitad de 2023, con una contracción anual general del 3,9% prevista para todo el año. Sin embargo, la vivienda podría llegar a caer casi un 8% (desde máximos) cuando haga suelo en el tercer trimestre de 2023.[...]
[...]La locura de Reino UnidoDesde el think tank británico Cebr advierten en una nota que el caso del Reino Unido las tasas hipotecarias medias alcanzarán máximos no vistos en más de 20 años a mediados de 2023. Por ahora se han disparado hasta el 6%. En consecuencia, se espera que el crecimiento anual del precio de la vivienda entre en territorio negativo durante la primera mitad de 2023, con una contracción anual general del 3,9% prevista para todo el año. Sin embargo, la vivienda podría llegar a caer casi un 8% (desde máximos) cuando haga suelo en el tercer trimestre de 2023.[...]
Fed Official Says Inflation Is ‘Stubbornly Persistent,’ Justifying Rapid Rate Rises‘It is critical that we prevent an inflationary psychology from taking hold,’ says governor Lisa CookRecent inflation data have suggested price pressures are “stubbornly persistent” and that prices of some goods that soared last year have declined more slowly than anticipated, said Ms. Cook.“I have revised up my assessment of the persistence of high inflation,” she said. “I am focused on the lag between signs of easing price pressures and actual inflation coming down from its very high levels.”The Fed at its meeting last month raised its benchmark interest rate to a range between 3% and 3.25%, and officials penciled in additional, cumulative rate increases of 1.25 percentage points this year. says governor Lisa CookHigh inflation is proving to be more persistent than anticipated and has created a strong case for the Federal Reserve to lift and then hold interest rates at levels that will slow economic activity, a central bank official said Thursday.The Fed will need to keep rates at restrictive levels “until we are confident that inflation is firmly on the path toward our 2% goal,” said Fed governor Lisa Cook in remarks at the Peterson Institute for International Economics, where she made her first speech since joining the central bank’s board this May.Ms. Cook is one of three new governors President Biden tapped to serve on the Fed’s seven-person board this year. At each of the three policy meetings she has attended this year, the Fed has raised its benchmark rate by 0.75 percentage point.Ms. Cook said Thursday she fully supported those increases to help bring down inflation and to prevent consumers and businesses from anticipating inflation to persist, which could create a self-fulfilling process of rising prices.“Although lowering inflation will bring some pain, a failure to restore price stability would make it much harder and much more painful to restore it in the future,” said Ms. Cook, who was previously a professor of economics and international relations at Michigan State University. “It is critical that we prevent an inflationary psychology from taking hold.”Recent inflation data have suggested price pressures are “stubbornly persistent” and that prices of some goods that soared last year have declined more slowly than anticipated, said Ms. Cook.“I have revised up my assessment of the persistence of high inflation,” she said. “I am focused on the lag between signs of easing price pressures and actual inflation coming down from its very high levels.”The Fed at its meeting last month raised its benchmark interest rate to a range between 3% and 3.25%, and officials penciled in additional, cumulative rate increases of 1.25 percentage points this year.Officials are seeking to reduce inflation from near 40-year highs by slowing the rate of investment, spending and hiring in the U.S. economy. New applications for unemployment benefits rose last week to 219,000 on a seasonally adjusted basis, up from 190,000 the week before, the Labor Department said Thursday. That was the highest level since late August but close to the low levels they reached in 2019 before the pandemic.Ms. Cook said the Fed’s rate increases, including those anticipated rises, “have led to a sharp tightening of U.S. financial conditions” that has weakened interest-sensitive sectors of the economy, including housing and business investment.But Ms. Cook said the Fed should rely less on forecasts that inflation would decline given how inflation has behaved this year. “It is important to consider whether inflation dynamics may have changed in a persistent way, making our forecasts even more uncertain,” said Ms. Cook.Given the risks of higher-than-anticipated inflation, the Fed needed to set policy based on seeing an actual slowdown in the pace of price increases and not simply forecasts that it would cool, she said.
CitarFacebook Conducts 'Quiet Layoffs' By Urging Managers To Identify Certain Number of Workers as UnderperformingPosted by msmash on Thursday October 06, 2022 @10:00AM from the market-condition-worsening dept.Mark Zuckerberg and other Facebook leaders have given many hints that a reorganization is coming. Now, a specific number of workers are to be deemed "needs support," Insider has learned. From the report:CitarThe company is already telling some to find other jobs, leaving workers to call it "quiet layoffs." It told staff last week in a weekly Q&A with CEO Mark Zuckerberg that it was extending a hiring freeze that's been in place since May. Just before this meeting, executives told directors across the company that they should select at least 15% of their teams to be labeled as "needs support" in an internal review process, one of the people who spoke with Insider said.All the workers asked not to be identified discussing nonpublic information. This was also discussed last week in a post from a Meta worker on Blind, an app popular with tech workers that requires a valid company email address to use anonymously. "These 15% will likely be put on PIP and be let go," the person wrote. The post prompted hundreds of comments from many other Meta workers who debated how many people would be let go. In Facebook's employee-review process, someone deemed in need of support is ostensibly dipping below performance goals. It is broadly seen by workers as a "performance-improvement plan," or PIP, and a precursor to losing your job. In July, Maher Saba, Meta's head of engineering, told managers they needed to identify everyone on their teams who fell into the "needs-support" category but did not specify a percentage of people who should be labeled that way.Saludos.
[...] Cuando se hacen estupideces así, esta caza de brujas, es porque los números no cuadran y se están buscando culpables. Cuando en un caso así a quien hay que culpar es a la dirección y a la organización.
CitarOver 50% of CEOs Say They're Considering Cutting Jobs Over the Next 6 Months - and Remote Workers May Be The First Go ToPosted by msmash on Wednesday October 05, 2022 @04:45PM from the closer-look dept.Alarm sirens from the C-Suite about a looming recession are gaining volume in America and elsewhere, but calls back to the office for full-time work are a lot softer. Most CEOs across the globe shared the view that a recession is on the horizon and coming sooner than later, according to a Tuesday report from KPMG on business-leader outlooks. From a report:CitarNine in ten CEOs in the U.S. (91%) believe a recession will arrive in the coming 12 months, while 86% of CEOs globally feel the same way, according to the findings from the international audit, tax and advisory firm. That echoes the foreboding predictions coming from big name Wall Street investors like Stanley Druckenmiller. In America, half of the CEOs (51%) say they're considering workforce reductions during the next six months -- and in the global survey overall, eight in ten CEOs say the same. One caveat for people who like working from home: Remote workers may find it in their best interest to show their faces in the office as their job security becomes more uncertain.It is "likely" and/or "extremely likely" that remote workers will be laid off first, according to a majority (60%) of 3,000 managers polled by beautiful.ai, a presentation software provider. Another 20% were undecided, and the remaining 20% said it wasn't likely. When asked how they foresaw their company's working arrangements in three years for jobs traditionally in an office, nearly half of U.S. CEOs (45%) said it would be a hybrid mix of in-person and remote work. One-third (34%) said the jobs would still be in-office, and 20% said it was fully remote. CEOs across the globe sounded more keen on in-person work. Two-thirds (65%) said in-office work was the ideal, while 28% said hybrid would be the way and 7% said it would be fully remote. The global findings pulled from U.S. business leaders, but also from CEOs in Australia, Canada, China, India, Japan and certain European Union countries and the United Kingdom.Saludos.
Over 50% of CEOs Say They're Considering Cutting Jobs Over the Next 6 Months - and Remote Workers May Be The First Go ToPosted by msmash on Wednesday October 05, 2022 @04:45PM from the closer-look dept.Alarm sirens from the C-Suite about a looming recession are gaining volume in America and elsewhere, but calls back to the office for full-time work are a lot softer. Most CEOs across the globe shared the view that a recession is on the horizon and coming sooner than later, according to a Tuesday report from KPMG on business-leader outlooks. From a report:CitarNine in ten CEOs in the U.S. (91%) believe a recession will arrive in the coming 12 months, while 86% of CEOs globally feel the same way, according to the findings from the international audit, tax and advisory firm. That echoes the foreboding predictions coming from big name Wall Street investors like Stanley Druckenmiller. In America, half of the CEOs (51%) say they're considering workforce reductions during the next six months -- and in the global survey overall, eight in ten CEOs say the same. One caveat for people who like working from home: Remote workers may find it in their best interest to show their faces in the office as their job security becomes more uncertain.It is "likely" and/or "extremely likely" that remote workers will be laid off first, according to a majority (60%) of 3,000 managers polled by beautiful.ai, a presentation software provider. Another 20% were undecided, and the remaining 20% said it wasn't likely. When asked how they foresaw their company's working arrangements in three years for jobs traditionally in an office, nearly half of U.S. CEOs (45%) said it would be a hybrid mix of in-person and remote work. One-third (34%) said the jobs would still be in-office, and 20% said it was fully remote. CEOs across the globe sounded more keen on in-person work. Two-thirds (65%) said in-office work was the ideal, while 28% said hybrid would be the way and 7% said it would be fully remote. The global findings pulled from U.S. business leaders, but also from CEOs in Australia, Canada, China, India, Japan and certain European Union countries and the United Kingdom.
Nine in ten CEOs in the U.S. (91%) believe a recession will arrive in the coming 12 months, while 86% of CEOs globally feel the same way, according to the findings from the international audit, tax and advisory firm. That echoes the foreboding predictions coming from big name Wall Street investors like Stanley Druckenmiller. In America, half of the CEOs (51%) say they're considering workforce reductions during the next six months -- and in the global survey overall, eight in ten CEOs say the same. One caveat for people who like working from home: Remote workers may find it in their best interest to show their faces in the office as their job security becomes more uncertain.It is "likely" and/or "extremely likely" that remote workers will be laid off first, according to a majority (60%) of 3,000 managers polled by beautiful.ai, a presentation software provider. Another 20% were undecided, and the remaining 20% said it wasn't likely. When asked how they foresaw their company's working arrangements in three years for jobs traditionally in an office, nearly half of U.S. CEOs (45%) said it would be a hybrid mix of in-person and remote work. One-third (34%) said the jobs would still be in-office, and 20% said it was fully remote. CEOs across the globe sounded more keen on in-person work. Two-thirds (65%) said in-office work was the ideal, while 28% said hybrid would be the way and 7% said it would be fully remote. The global findings pulled from U.S. business leaders, but also from CEOs in Australia, Canada, China, India, Japan and certain European Union countries and the United Kingdom.
One caveat for people who like working from home: Remote workers may find it in their best interest to show their faces in the office as their job security becomes more uncertain.