Happy And Succeeding In The Future Of Work
Our Weekly Roundup
Meta Ranks Thousands Of Workers As Subpar, Setting The Stage For Potentially More Layoffs
Social media giant Meta reportedly rated thousands of its tech workers as being subpar, according to the Wall Street Journal. The low-performance ranking is considered within the tech community as a foreshadowing of upcoming layoffs. Bonuses may be cut, and CEO Mark Zuckerberg plans to slow down hiring engineers by “at least 30%” in 2023.
Prior Ageism Allegations At Google, Facebook And IBM Raise Concerns About Older Workers Being Targeted For Termination
Amid a white-collar recession with thousands of tech, Wall Street, media, real estate and other sectors shedding jobs at an alarming rate, there are concerns that older workers will be targeted. “When employees are let go during times of economic uncertainty, older workers may be especially vulnerable,” Marketplace reported. A study by economists Gordon Dahl and Matthew Knepper scrutinized the proliferation of age discrimination during recessions. Their research shows that complaints filed with the Equal Employment Opportunity Commission concerning age-related firing allegations rose for each percentage point increase in a state’s monthly unemployment numbers.
New York City Is Losing Out On $12 Billion Annually Because Of Remote Work
With fewer people commuting into Manhattan, the Big Apple stands to lose its luster and reputation as being the epicenter of commerce, finance, media, entertainment, tourism and a vibrant social scene. New York City businesses are losing customers and revenue with people working remotely. The workers coming into Manhattan are spending $12.4 billion less per year than they were before the pandemic, according to a Bloomberg report citing data from Stanford University economist Nicholas Bloom’s WFH Research team.
Adding Insult To Injury, Being Labeled As A ‘Low Performer’ Makes Matters Worse For Laid-Off Workers
Getting laid off can be a traumatic event. The loss of a job and concerns about financial insecurity cause stress and anxiety to affected workers and their families. To compound the problem for people in between jobs, prior to layoff announcements, companies like Meta, Salesforce, Amazon, Google and other marquee names discussed or encouraged letting go of low performers.
Two Different Worlds: Jobs Report Shows Record Hiring Of Restaurant And Bar Workers, While LinkedIn Data Shows Hiring Slowdown For White-Collar Professionals
The strength of the labor market may be faltering, according to data from LinkedIn’s State of the Labor Market. The new report conducted by the career-oriented social media platform shows hiring on LinkedIn dropped by 23% year-over-year in the United States in January.
Inflation And Rising Costs Create Fear Of Having To Work Into Your 70s
The one thing we all have in common is that we grow older. As we live longer, if we’re lucky, we’ll enter our golden years with health and enough wealth to enjoy retirement. The problem is that there are now many roadblocks that didn’t exist even a year ago. Record-high inflation, rising interest rates and the costs of everything, from food to gas to apartment rentals and home prices, create the palpable fear of outliving your savings.
Assemble A Dream Team To Help You Find A Job And Fast-Track Your Career
Hunting for a new job shouldn’t be a solo effort. To succeed in your job search and advance your career, surround yourself with a team of people who can help you achieve your hopes and dreams. Instead of going it alone, seek out qualified recruiters, a career coach and résumé writer, mentor and sponsor.
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Media Inquiry
Jack Kelly is available to discuss a broad range of topics, including, but not limited to: the job market, the state of recruiting, trending news stories and career advice. He has appeared on CNBC, MSNBC, NBC, FOX, CBS, BBC and NPR. Jack has been quoted in the the Wall Street Journal, Washington Post, Economist, INC., New York Post and more.
About Jack Kelly
Jack Kelly is the CEO, founder, and executive recruiter at one of the oldest and largest global search firms in his area of expertise. He has personally placed thousands of professionals with top-tier companies over the last 20-plus years. Jack is passionate about advocating for job seekers. In doing so, he founded a start-up company, WeCruitr, at the beginning of the Covid-19 pandemic. The mission of WeCruitr is to help people in need and make the job search more humane and enjoyable. As a proponent of career growth, Jack shares his insider interviewing tips and career advancement secrets as a Senior Contributor for Forbes. He also covers timely topics related to corporations, high-profile people, Wall Street, politics and other important matters. The pieces offer insight into the news and how it may impact your career. Jack is the author of Happy and Succeeding in Your Job Search, as well as the host of Happy And Succeeding In The Future Of Work and cohost of the Blind Ambition podcast.