Happy And Succeeding In The Future Of Work
Wall Street Bankers Face Bonus And Job Cuts
Wall Street Bankers Face Bonus And Job Cuts
The mighty Wall Street investment bankers, brokers, traders, deal makers and money managers are not immune to market forces. According to Bloomberg, JPMorgan, Bank of America, Citigroup and other financial institutions are considering cutting bonuses by up to 30%. Compensation management consulting firm Johnson Associates reports that incentive pay may fall by more than 45%. There is a fear that some low performers will get “donuts,” the harsh term for not receiving any bonus payout.
Feds Charge 21 People In Global Crypto Money Laundering Bust
The U.S. Attorney’s Office for the Eastern District of Texas announced on Wednesday that it has charged 21 people in a transnational crypto money-laundering network that washed millions in funds scammed from thousands of U.S. victims. The charges were unsealed as part of “Operation Crypto Runner,” which was established by U.S. Attorney Brit Featherston of the Eastern District of Texas, the Secret Service and the U.S. Postal Inspection Service.
Prosecutors, SEC Squeeze FTX Associates For Information
While FTX founder Sam Bankman-Fried continues to make lawyers cringe every time he opens his mouth, US authorities are seeking information from investors and trading firms that worked closely with the company. According to Bloomberg, the US Attorney’s Office for the Southern District of New York (SDNY) has recently sent out a flood of requests seeking information on a list of FTX employees and associates.
Demand For Remote Jobs Outpaces Supply
Applicants want remote jobs, but the number of postings that allow people to work from home is dwindling as companies start to call workers back to offices. By the numbers: 50% of applications submitted on LinkedIn are for remote jobs, but just 15% of postings are advertising flexible work. Why it matters: “The scaling back of remote-work policies is among the first and most visible signs of a changing job market,” The Washington Post’s Abha Bhattarai writes. “Flexibility remains one of the top priorities for employees,” says Rand Ghayad, head of economics and global labor markets at LinkedIn. But the balance of power is starting to shift away from workers and back to employers as the labor market shows more signs of cooling down, he says.
Woes Of The Crypto Bros: These 5 Billionaires Lost The Most Money In 2022
It’s been a tough year financially for crypto billionaires after the market suffered a trillion-dollar crypto crash. The wipeout has resulted in thousands of lawsuits as investors attempt to recoup their lost billions. The top crypto leaders in the space have lost a combined $112.7 billion this year alone.
Former SEC Official Slams Tether For Running A Ponzi Scheme, Labels Firm As A ‘House Of Cards’
Former Securities Exchange Commission enforcement official John Reed has questioned the implication of the alleged lack of transparency by USDT stablecoin provider Tether. According to Reed, who worked with SEC for almost two decades, Tether’s failure to disclose key information about its balance sheet might be a sign the firm is operating as a ‘house of cards’, Reed said in a tweet.
Early Venture Capitalist Investor In Zoom With A 200x Return Offers His Views On The Future Of The Startup Space
Venture capitalist and early-stage investor Eugene Zhang was in the right place at the right time. His firm, TSVC, was the first institutional investor in the initial round of funding for Zoom in 2011. Its check for $250,000 garnered a 200x return. There were other wins too. Zhang and TSVC made early seed-stage investments in Carta, Ginkgo Bioworks, Quanergy and more than 70 startups over the last 12-plus years. Its portfolio companies brought in more than $4 billion in follow-on funding rounds and were involved in over 30 IPO and M&A exits.
Renewing A Year-End Tradition, Companies Are Throwing Holiday Parties Again To Bring Employees Back Together
After two years of Covid-related cancellations and the desire of many companies to bring remote workers back together, the office party is staging a comeback. About 42% of companies say they are planning an in-person holiday party this year, up from just 13% a year ago, according to a survey by Challenger, Gray & Christmas. “Companies that are announcing parties clearly want people to attend,” said Andrew Challenger, senior vice president at Challenger, Gray & Christmas.
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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.
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