In other news, the Federal Trade Commission is investigating deals between big tech firms and AI companies, and OpenAI CEO Sam Altman is reportedly seeking to raise billions to build a network of AI chip factories. Stanford University professor Bob Sutton discusses the causes of workplace friction in his new book, "The Friction Project". He suggests that HR departments often unfairly shoulder the blame for adding friction, and that leaders need to understand the work itself to reduce it. He also argues that hybrid work does not necessarily increase friction, contrary to the beliefs of many CEOs.
Key takeaways:
- The debate over remote work continues with new studies suggesting that return-to-office mandates do not necessarily boost financial performance and that remote work can enhance diversity and attract experienced workers.
- Walmart plans to give store managers annual stock grants worth up to $20,000, a move announced at the company’s annual meeting for store and supply chain leaders.
- Microsoft plans to lay off 1,900 employees across Activision Blizzard’s video game workforce, which is about 8% of Microsoft’s total gaming workforce of 22,000.
- Stanford University professor Bob Sutton suggests that the increase in frustration and friction at work is due to technology and the size of the technology stack. He also argues that hybrid work does not necessarily increase friction and that the push for office return lacks evidence.