SUCCESS
How To Be Resilient Amid Failure And Uncertain Times
Over the course of your career, you’ll encounter setbacks, layoffs, rejections in the job search process, failures in projects, lack of advancement, being passed over for promotions and other unfortunate events.
In the last number of decades, the global economy has undergone dramatic changes. Businesses have seen the rapid growth of globalization, fast-emerging technologies such as artificial intelligence and a pivot from production to a service economy. In recent years, the United States has contended with high interest rates to fight back against high inflation. Economic headwinds resulted in widespread layoffs and companies taking a wait-and-see approach when it comes to hiring. The transformations swirling within the job market and economy have created financial and job insecurity, which are stress and anxiety-inducing.
Top Stories For January 24, 2024 In Wall Street, The Economy, Pop Culture, Sports, Politics, Tech And The Job Market
Wall Street
2024 is less than a month old and markets have already soared to new heights.
The S&P 500 hit its first record high in more than two years last week and the Dow Jones Industrial Average crossed the 38,000 level for the first time ever on Monday.
Main Street is thriving, too. US economic data remains strong and inflation is trending down. It now seems possible that the Federal Reserve will begin cutting interest rates within the next few months and that a recession may be avoided.
But geopolitical tensions are growing and Wall Street appears to be underestimating their potential impact on the global economy and markets.
Economy
Federal Reserve officials are planning to finally cut interest rates this year and Wall Street thinks that first cut will come as soon as March.
But investors’ hopes are slowly dwindling. Now there’s roughly a 50/50 chance that the Fed could either cut rates or hold them steady in March, according to futures. That’s down from expectations that were around 70% only a few weeks ago, as the market rejoiced in seeing inflation steadily inch closer to the Fed’s 2% target throughout 2023.
Pop Culture
Netflix on Tuesday said it will soon be home to the WWE's most-watched wrestling show, as part of a multibillion-dollar deal that will see the streaming giant enter the ring to compete in covering live sports.
The streaming giant is acquiring the rights to WWE Raw in a $5 billion deal to be paid out over 10 years, as the wrestling group's contract with Comcast nears its expiration, Bloomberg reported. The series will begin airing on Netflix in January 2025, and will be available to subscribers in North America and other international markets. WWE is part of TKO Group Holdings.
"Our partnership…dramatically expands the reach of WWE, and brings weekly live appointment viewing to Netflix," TKO President and Chief Operating Officer Mark Shapiro said Wednesday in a statement.
Commonly Offered Interview Advice That Is Actually Bad For Your Career
With the best of intentions, people have been doling out really bad interview and career advice for years. Family and friends mean well, but they tend to offer career counseling without having an actual clue about the specific circumstances and nuances of the recipient’s unique situation. In this LinkedIn Live, I will give examples of misguided career advice and explain why you should not follow it.
Sports
Cavaliers center Tristan Thompson was suspended 25 games without pay by the NBA on Tuesday for violating the league's anti-drug policy.
According to the league, Thompson, 32, tested positive for ibutamoren, which is a growth hormone, and SARM LGD-4033, commonly used by bodybuilders and weightlifters for muscle enhancement.
Thompson will begin serving his suspension Wednesday when the Cavs play the first of two games in three days at the Milwaukee Bucks. He'll be eligible to return on March 16 against the Houston Rockets.
Politics
Donald Trump beat Nikki Haley by a significant margin in New Hampshire — 11 points — despite nearly half the electorate being comprised of independent voters. Haley won 6 in 10 independents Tuesday, but lost three-quarters of Republicans.
It's hard to see another state favorable enough to Haley to give her the opportunity to dislodge Trump as the likely nominee. But Haley is vowing to continue on.
Tech
One of the largest data breaches to date could compromise billions of accounts worldwide, prompting concerns of widespread cybercrime.
Dubbed the “Mother of All Breaches,” the massive leak revealed 26 billion records—including popular sites like LinkedIn, Snapchat, Venmo, Adobe and X, formerly Twitter in what experts are calling the biggest leak in history.
The compromised data includes more than just login credentials, according to experts. Much of it is “sensitive,” making it “valuable for malicious actors,” per Cybernews, which first discovered the breach on an unsecured website.
Job Market
Layoff Announcements
The Wall Street Journal reported that Wayfair executives on Tuesday told employees at a company-wide meeting that staff who worked remotely "were more likely to be laid off" in its most recent round of job cuts, which will affect around 1,650 employees, or 13% of the company's global workforce. Those layoffs were announced on Friday. During Tuesday's meeting, executives also said workers should do the majority of their work in an office.
California’s largest daily newspaper, the Los Angeles Times, announced on Tuesday that it is laying off at least 115 people—roughly a quarter of its staff—as it continues to hemorrhage money. The layoffs were announced in a newsroom-wide email from L.A. Times president and Chief Operating Officer Chris Argentieri, according to reporter Matt Pearce.
Online retailer eBay is shedding 1,000 jobs, or about 9% of its workforce, as the company faces a business slowdown that is rippling across the technology industry. In a blog post, eBay CEO Jamie Iannone wrote that the size of the company's staff and its expenses "have outpaced the growth of our business," which he said prompted the terminations. In addition, eBay is ending its relationship with many outside contractors.
How To Get A Job In Tough Times: All The Advice You Need To Succeed From A Top Executive Recruiter
There’s an old saying, “Tough times make tough people.” In this book, Jack Kelly will help guide you every step of the way in your job search to ensure that you stay strong, resilient and positive, and get that great, new job.
