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If the nations were to do as much as beating the chest about regional development, there’d be fewer people out asking for job prospects. Consider this, over the last decade economic prospects have strengthened for 27 nations while at the same time deteriorating for 25. If the continent is to make the most of its burgeoning youth, it needs the job influx to match mega promises.
It seems that the now infamous dirty laundry, aka the #metoo movement, is permeating into the tech world too. In a welcome move for working women around the world, Companies of all sizes are gearing up to be merciless about sexual harassment and the world’s biggest search engine is no exception. In response to a New York Times story that was published on the 25th, CEO Sundar Pichai sent out an email to employees stating that 48 employees had been fired over the matter in the last two years. Surprisingly 13 of them were senior managers, in response to allegations that the company had protected three senior executives by offering them payouts.
Rumors of layoffs have been plaguing the telecom giant for some time now. In a recent internal memo, the staff at Huawei revealed that Huawei is suspending recruitment for most internal positions with a strong hiring focus on fresh university graduates for the short term. However, the insiders within the company also clarified that external hiring will not be done away with completely. Senior Professionals with proven excellence in engineering and technology in the 12-15 years’ experience range will continue to remain attractive hires for the company. The biggest employee demographic for the company is presently mid-level employees who haven’t made the cut for promotions but haven’t been laid off either.
Prakash Kota, the CIO of design software behemoth Autodesk recently came out in favor of automation and AI, saying that it was freeing up time for workers at the software company, empowering them to focus on more difficult problems and develop newer skillsets. The 9,000 strong workforces have developed several automation programs that perform repetitive tasks of employees, including virtual assistants that even assist in query resolution and access authorization. Business functions that have been enhanced include payroll, marketing, and finance. Technology vendor UI Path has been one of the key partners in this growth. Autodesk has also developed AVA, an AI virtual assistant for customers using its software products.
James Gatto, Merl Code Jr., and Christian Dawkins were found guilty of bribing the families of up and coming college basketball talent in exchange for their commitments to join teams sponsored by Adidas in the future. After more than two days of deliberation over the lawsuit, the jury found the defendants guilty of what constitutes several charges, including illegal wire fraud. Given the severity of the situation, the three could face prison sentencing several years’ worth. This case exposed a murky underworld of sports agents and runners who speculators have long suspected of running such activities. It also demonstrated the massive influence that sports brands have in the NCAA.
Elon Musk skipped his car talk for a while in the last Wednesday’s earnings call and shifted his focus on Tesla Medical Clinics. He terms it as “immediate first-class health care” served right on spot. The clinic is headed by an orthopedic surgeon, whom Musk did not name. While Musk did not quite christen the clinic, there are profiles on LinkedIn stating they are working with ‘Tesla Clinic’ at their Fremont, California location. Laurie Shelby, VP Environmental Health and Safety took it from where Musk left and said, Tesla has done 10 percent better on lost work days and the injuries are going down by every year. Amazon and Apple are also driving towards a similar on-site clinic territory to make healthcare better for the employees.
Snap Inc. is roping in Jeremi Gorman of Amazon.com as its new Chief Business Officer. HuffPost Chief Executive Jared Grusd will be filling in the position of Chief Strategy Officer replacing Imran Khan. Snap is eyeing to get the profits running with ad sales and users by next year. And Gorman, who saw to Amazon becoming one of the biggest ad sellers will play an important part. Grusd will replace Khan in the coming weeks, who is one in the recent spate of exits after controversial Snapchat App. Design update. Khan’s exit date is still undecided. Grusd will oversee the company’s acquisition and partnership initiatives. Snap’s stock saw the upward curve for a brief period post the announcement that both the executives shall start in the weeks to come.
One of the world’s strongest proponents of gender equality at the workplace and the COO of the world’s largest social network reiterated her stand against equal opportunities for women at the workplace recently, citing a report published by Leanin.org and McKinsey. This is the largest study of its kind to date, spanning four years of data from 462 companies. Sheryl Sandberg sounded the clarion call, stating that companies must now step up their diversity hiring because the progress of women at the workplace wasn’t just slowing down, it was actually stalling. Sandberg pointed out that intent is not enough, stressing that commitment and actions are the need of the hour.
Could the nascent cannabis industry be the next hope for thousands of American employees with a record? Experts seem to think so. The rapid and exponential growth of the industry, in conjunction with the huge potential for investment, demand, and revenues. Several state governments are already taking the initiatives into their employment initiatives, conducting several expunging operations wherein prospective workers with past conviction records have had them expunged by state and federal law enforcement authorities. This week will see over 20 organizations join hands for the National Expungement Week in Atlanta, Baltimore, Austin, Chicago and several other cities across the country
Anning Chen, An American born in China and a former Ford Engineer is all set to head Ford’s troubled China operations. His appointment as the new head-marks an end to a 9-month search after his predecessor left rather unceremoniously after just five months. Chen was the Chairman of Cherry Jaguar Land Rover for China and has over 14 years of working experience in the region. Ford sees this local touch as a major move in the right direction. Going by the figures, Ford saw a slump of 43% in sales when compared to the sales number last year. Chen’s understanding of local culture and language will be a key to set Ford’s foot back in its second largest territory as far as sales volume is concerned.
Laszlo Bock, former head of people operations at Google is all set to introduce Humu, his software-based startup to the world. Bock has collaborated with two other ex-Google employees to bring a behavior science and machine learning software. Humu focuses on assisting managers to change their behavior patterns. The software comes with time-based alerts and nudges to motivate the manager to interact with the team, praise them in the meetings. It reads patterns and analytics and drafts ‘Thank You’ notes and nudges to send an email or message in time. It keeps updates on what employees plan over the weekend and encourage a meaningful workplace interaction.
Swiss food giant Nestle is set to appoint Chris Johnson as the zonal CEO for Asia even as the company saw its first high profile female executive exit in quite some time. Johnson is set to replace Wan Ling Martello, the company’s most senior female executive and the head of its Asia market, who recently announced plans to move to Unilever for the top job there over choosing retirement. The succession plan seems to have worked with surgical precision, with Beatrice Guillaume- Grabisch, currently the CEO of Nestle Germany. Whether Johnson is able to successfully step into the rather large shoes of his predecessor will be exciting to watch out for.
The global pharma major, as a precursor to its planned cutbacks which is set to affect 90,000 workers, or roughly 2% of its workforce, is offering its non-unionized workers the choice of an early retirement. In a recent internal memo, the employees were told that the layoffs are a part of an effort to simplify the organization for a more efficient structure. The severance package will include 12 week’s base pay, besides 3 weeks’ salaries for every year worked at the company, upto a total of 104 weeks to every employee who opts for early retirement. They will also get to keep their stocks and health insurance up to 3 years from their retirement.
The war for customers is passe. The world’s largest e-commerce store was recently sued by one of the world’s largest, in a move that seems straight out of a legal thriller. Rival ebay, in a lawsuit, claimed the ecommerce behemoth has ‘stolen’ its supplier data straight from its internal email system, hacking into confidential data to contact suppliers to register. According to ebay, this practice goes back to 2015. The ‘unscrupulous’ conduct is one of many allegations that Amazon has faced this year, which hasn’t really stopped it from its global dominance.
Cofounding Microsoft lies in contrast to his other achievements as one of the most phenomenal things, in public knowledge & professional capacity, that Paul has accomplished. Having first diagnosed with Hodgkin’s disease in 1985, a turn which marked his departure from Microsoft, the disease led to his unfortunate demise on Monday. Industry veterans were quick to show both sorrow and shock at the news of a personage, who contributed $2 billion out of his $20 billion worth of fortune to philanthropic causes.
The last two and a half years have come to expose the lacklustre measures of the reserve who might have ill-timed their move to increase interest rates. Analyzing their moves on a microscopic level, there is a belief if the rates continue to rise i.e., untimely, it may lead to disinflation if the economy starts to become tiresome due to an all-out trade war. Speculation has it, that in time to come such policies will be talked of in relation to an upcoming financial doom.
Eddie Lampert has kept his card on the table to partly contribute the $600 million package, brokered to finance company operations during bankruptcy operations. The objective of the whole exercise is to adopt a divestment approach that cuts short the company’s exposure to liquidation. Bank of America, Wells Fargo & Citigroup Inc. are also expected to play key roles in securing finances.
Cho Yang-ho had been indicted under charges of embezzling money and violating trust. The anti-establishment sentiment has been on the rise in the country which has filliped courts to move faster against people in power, especially since President Moon Jae- took to the office in 2017. Other high profile names who have been pressed charges against include Chairman of Lotte Group & Samsung’s Jay Y. Lee.
The company has had to pick its spirit up from the losses worth $1 billion, which it blames is a consequence of the trade war with China. CEO, Jim Hackett has made his intentions clear of restructuring the car maker with an allocated capital of $25 billion. Year to date, the company’s stock is down 29%.
Major employers are joining forces to contribute towards a higher voter turnout this Mid-term election in America. heeding to the dilemma of choosing between Voting or comprising the paycheck, the Time to Vote campaign hopes to deliver positive voter turnout change. As a result, on November 6, brands like Levi Strauss & Patagonia will offer paid-time off while Lyft will put up discounted rides for citizens to show up at polling booths.