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Workplace loyalty issues are on display at Big Tech firms like Google.

Jan 22, 2024 - businessinsider.com
The article discusses the decline of employee loyalty in corporate America, particularly in Big Tech. Factors such as globalization, job hopping, and workers' reluctance to return to the office have led to a more transactional view of the employer-employee relationship. Recent layoffs in companies like Google, Amazon, and Meta have further eroded trust. The article also highlights the rise of "quiet quitting" and "quiet firing" tactics, where employees leave without formal notice or are let go without explicit termination.

In other news, consumer sentiment towards the economy is at its highest since 2021, with both Democrats and Republicans expressing more optimism. The article also covers the challenges of making money in the streaming music industry, using Spotify as an example. It provides tips for job seekers in 2024, given the cooling labor market. Other topics include the potential costs of generative AI, the worsening quality of search engine results due to aggressive SEO tactics, and the success of startups founded by former OpenAI employees.

Key takeaways:

  • There is a growing deterioration of loyalty in corporate America, particularly in Big Tech, with employees feeling less allegiance to their employers and companies viewing their workers more transactionally.
  • Big Tech companies such as Meta, Amazon, and Google have been making significant layoffs, with some employees fearing the cuts could be even deeper via 'quiet firing' tactics.
  • Investment chiefs are advising on how to navigate and invest during the earnings season, with sectors having the most on the line as the numbers roll in.
  • American consumers are reportedly more optimistic about the economy than they have been since 2021, with both Democrats and Republicans expressing more optimism.
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