All articles tagged with #human resources
Meta announced a plan to cut about 10% of its workforce on May 20, with roughly a month of notice that creates an anxious limbo for staff. Experts say grinding harder in the final weeks is unlikely to change the outcome; instead, employees should focus on networking and preparing for a potential transition, while staying engaged to preserve referrals and morale, even as managers and top performers may also be at risk.
Epic Games parted ways with Chief People Officer Monika Fahlbusch on April 15, less than a month after announcing more than 1,000 layoffs; the company offered no reason for her departure. Fahlbusch, who joined in 2020, would have overseen the downsizing, which included a terminally ill employee whose life-insurance issue was later addressed by Tim Sweeney.
AI proficiency is becoming a competitive edge in various fields, including data analytics, content creation, teaching, and human resources. In data analytics, AI can automate tasks and uncover complex patterns. Content creators can use AI for brainstorming and optimizing content. In teaching, AI can personalize learning experiences. HR professionals can leverage AI for efficient hiring and personalized training programs. Embracing AI tools can significantly enhance job performance and career prospects in these areas.
A viral trend on TikTok has brought attention to the cold and heartless nature of many companies' termination processes, highlighting the need for more compassionate and respectful approaches to layoffs. While layoffs may sometimes be necessary, companies should exhaust all other cost-cutting measures before resorting to job cuts. If layoffs are unavoidable, employers should handle them with empathy, transparency, and support for the affected employees, as demonstrated by positive examples from companies like Stripe and Nokia. Treating employees with dignity during layoffs not only benefits the individuals involved but also contributes to maintaining employee engagement and overall business success.
An exodus of talent is posing a threat to Goldman Sachs' ongoing overhaul efforts, according to a Wall Street Journal news exclusive. The departure of key employees, including senior executives and traders, has raised concerns about the bank's ability to execute its strategic plans and maintain its competitive edge in the financial industry. The talent drain is reportedly attributed to a combination of factors, including increased competition from other firms, dissatisfaction with compensation, and a shift in the industry landscape.
Netflix is set to release Extraction 2, the sequel to the blockbuster action film Extraction, along with other titles such as Our Planet II, a nature documentary series, Amy Schumer: Emergency Contact, a comedy special, and Human Resources: Season 2, a workplace spinoff of Big Mouth. Extraction 2 follows Chris Hemsworth's Tyler Rake on another deadly mission to rescue the family of a ruthless Georgian gangster from prison. Our Planet II features the movement of billions of animals around the planet, while Amy Schumer's latest special explores the changes that come with turning 40. Human Resources: Season 2 follows zany creatures that dictate all aspects of human development.
IBM CEO Arvind Krishna has said that the company will pause hiring for jobs that could be done with artificial intelligence (AI), with 30% of 26,000 "back-office" jobs expected to be replaced by AI. This could result in roughly 7,800 job losses. Krishna said that tasks like employment verification letters and switching employees between departments could be fully automated, but evaluating productivity would likely not be replaced by automation or AI for over the next 10 years. IBM announced earlier this year that it would be laying off nearly 4,000 jobs as a result of one of its branches breaking off to become its own company.
Amazon has started laying off employees in its cloud computing and human resources divisions as part of its plan to cut 9,000 additional roles announced in March. The company's CEO, Andy Jassy, had communicated the additional cuts after telling staffers in January that the company was going to cut 18,000 jobs, marking the largest round of layoffs in the company's history. The latest job cuts bring its total workforce reduction this year to 27,000. Despite the layoffs, Amazon's AWS CEO, Adam Selipsky, said he is "very confident" in its long-term prospects.
According to a new report from BambooHR, 65% of HR professionals typically approach layoffs by eliminating newly hired workers first. The report also found that employees believe that in a wave of job cuts, the likelihood of getting laid off is 62% for recent hires and 20% for longstanding employees. Sandra Sucher, a professor at Harvard Business School who studies layoffs, advises that laid-off new hires should frame their narrative positively and shift the burden of their layoff onto external economic factors to tell a more accurate and valuable story to future employers.
As layoffs continue to roll through the workplace due to recession fears and overhiring during the pandemic, more companies are encouraging people to work from home when they announce job cuts. Remote layoffs can help workers privately process the news and all the complicated emotions that come with it. While the stigma surrounding layoffs is eroding, some workers still associate it with shame as they walk out with that cardboard box. Conducting these in person has been considered the professional standard for a while, often believed to be the more humane approach for the worker who has put time and effort into the company. But as the growing number of remote layoffs prove, the landscape has changed since then.
The process of deciding who to lay off in a company can take weeks due to the current shortage of workers. Department heads lead the process of selecting employees, while human resources troubleshoots their lists, leading to intense debate and multiple rewrites.