As Big Tech companies begin to lay off employees in the global economic downturn, Google executives have reportedly warned workers to either boost performance or prepare to leave as “there will be blood on the streets” if the next quarterly earnings are not good. In a company message viewed by Insider, Google Cloud sales leadership has threatened employees with… Source link
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Michael Burry said on Tuesday that the U.S. labor market is about to be sliced in half, with blue-collar workers remaining a sought-after commodity, while white-collar workers see job losses and falling wages. In other words, the good times are ending for office workers. “I see a bifurcated labor market developing as unskilled and semiskilled remain in short supply, but white-collar workers, having proven their redundancy during COVID, will find gross excess in the labor market, pressuring… Source link
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Last week, the CEO of real estate company Redfin, Glenn Kelman, announced the company was laying off 8% of its employees in an email, saying that demand for the company’s realtor services had fallen 17% below expectations in May. “We don’t have enough work for our agents and support staff, and fewer sales leaves us with less money for headquarters projects,” Kelman wrote in the email announcing the layoffs on June 14. The layoffs at Redfin and another real estate company, Compass, on… Source link
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Tesla CEO Elon Musk.Maja Hitij/Getty Images Two former Tesla employees have filed a lawsuit against Tesla, claiming its mass layoffs violated federal law. In early June, CEO Elon Musk said Tesla needed to cut 10% of its staff, per Reuters. The two former employees are looking to claim 60 days’ worth of pay and benefits. In a lawsuit filed Sunday, two former Tesla employees claim the electric carmaker violated federal law by laying off hundreds of employees on short notice. On June 2, Tesla CEO… Source link
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ESPN announced the biggest layoffs the company has ever had on Thursday, and longtime journalist Bob Ley was not happy about it. Ley — the former anchor and “Outside The Lines” host who had been with ESPN essentially since the beginning — slammed the network on Twitter. Trying to remain objective and unemotional as I learn of the @espn team members laid off today. Not possible. Not as I see countless decades of journalistic experience, and expertise jettisoned. Just when we need it… Source link
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