Happy And Succeeding In The Future Of Work
Our Weekly Roundup
A Day After Amazon Announced Layoffs, CEO Andy Jassy Warns Of More Job Cuts To Come
Amazon announced in a blog post on Wednesday that it will be conducting layoffs. The job cuts were predominantly focused on the Devices and Services division and will impact white-collar workers. The retailing giant will separate a reported 10,000 employees from payroll, according to the New York Times. Foreshadowing what was coming next, human resources was also part of the layoff. When HR people are downsized, it’s a harbinger of future layoffs and hiring freezes.
Here Are Tactics Tech Companies Use To Quietly Cut Staff
While most firms will deny that they use these strategies, tech workers cite that people are let go or pushed out the door through stack rankings, regretted and unregretted attrition, performance improvement plans and continuous rounds of downsizings.
The Sudden Demise Of FTX Is A Cautionary Tale For Job Seekers And Crypto Professionals
The epic rise and sudden implosion of FTX—a top cryptocurrency exchange until this weekend—looks like an old-fashioned Bernie Madoff Ponzi scheme. It’s alleged that the now-former CEO, Sam Bankman-Fried, along with others, engaged in reckless trading activities, in an effort to stave off an imminent demise.
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Don’t Follow The Herd: Never Quit A Job Without Another Job Securely Lined Up
One of the first principles of recruiting is telling a job seeker not to quit a job without another guaranteed opportunity in hand. The job market has radically changed. Finding a new role is no longer easy, especially if you are a highly paid white-collar professional. Layoffs, hiring freezes and job offers being rescinded characterize this new normal. The downsizing will continue until the Federal Reserve Bank meets its promise of bringing down inflation, which could take up to a year or two.
Lyft, Meta, Salesforce And Other Tech Companies Are Downsizing Their Real Estate—Why This Is Good News For Remote Workers
Large tech companies, including Lyft, Meta, Salesforce and others, are downscaling their real estate holdings in response to market conditions. They are stalling construction, attempting to extricate themselves from exorbitant leases or trying to sublet space and unloading millions of square feet of office space in prime locations, including San Francisco, Silicon Valley, New York, Austin and other locations, the Wall Street Journal reported on Tuesday.
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The Case For Being Optimistic About The Future
If you spend your day on Twitter, it may be hard to believe, but there is a strong case to be made for optimism in America. The recent consumer price index showed that inflation is declining. This will soften the Federal Reserve Bank’s approach to raising interest rates, which causes companies to cut costs and conduct layoffs. The stock market rallied on the news, bringing some good news to those who hold a 401(k) plan, college fund for their children or IRA. It’s important for the overall mental health of the nation to see that there is light at the end of the tunnel and, eventually, the challenging economy will improve and instead of layoffs, Americans will see a return to aggressive hiring.
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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.