Werd I/O

“Layoffs often do not cut costs, as there are many instances of laid-off employees being hired back as contractors, with companies paying the contracting firm. Layoffs often do not increase stock prices, in part because layoffs can signal that a company is having difficulty. Layoffs do not increase productivity. Layoffs do not solve what is often the underlying problem, which is often an ineffective strategy, a loss of market share, or too little revenue. Layoffs are basically a bad decision.” #Business

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“Many white-collar workers say the events of the past three years have reordered their priorities and showed them what they were missing when they were spending so much time at the office. Now that normalcy is returning, even some of the workers who used to be always on and always striving say they find themselves eyeing the clock as the day winds down, saying no to overtime work or even taking pay cuts for better work-life balance.” Good! #Business

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“Some lawmakers, academics and policy analysts have criticized some of the provisions, including the move to raise the age of required retirement account distributions to 75. They argue much of the legislation benefits the wealthy and the financial-services industry.” I agree and would prefer to see welfare and social security improvements instead. #Business

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“Successful people can afford to engage in countersignaling—doing things that signal high status because they are associated with low status. It is a form of self-handicapping, signaling that one is so well off that they can afford to engage in activities and behaviors that people typically associated with low status.” #Business

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“26% of hiring managers say they are less likely to move forward with Jewish applicants; the top reason for negative bias is belief Jews have too much power and control […] Respondents also wrote in a number of derogatory comments regarding how they identify an individual as Jewish. These write-in responses included: “voice,” “mannerisms,” and “they are very frugal.”” Horrifying. #Business

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“But there’s plenty in the public record. Personal attacks. Union busting. A casual attitude toward factory floor injuries and other health concerns. A dismissive approach to workplace racism. And an allegation involving a horse and sexual favors.” #Business

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“An amendment to the bill is now expected that will allow all workers to request remote working.” In Ireland right now but expect it everywhere soon. #Business

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“Investors are more likely to place their bets on companies led by founders with elite educational backgrounds and stacked resumes, when business-related factors such as the market sector the company belongs to have a much larger effect on its financial future.” #Business

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Honestly the fact that this led to a stock dive just makes me really sad. #Business

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“CEO Parag Agrawal, chief financial officer Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety, were all fired, according to the people. Sean Edgett, the company’s general counsel, was also pushed out, one of the people said. The top executives were hastily shuttled from the building.” #Business

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“Tell people what they want to hear and you can be wrong indefinitely without penalty.” #Business

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“In most people’s interactions with a workplace, the company takes too much and gives too little. The only recourse for labor is to form structures of counter-power to try and balance the equation.” #Business

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“For tenants, the system upends the practice of negotiating with apartment building staff. RealPage discourages bargaining with renters and has even recommended that landlords in some cases accept a lower occupancy rate in order to raise rents and make more money.” #Business

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“Likewise, constraining the word “technical” to refer only to “people who write code” serves to uphold a system in which benefits like compensation and prestige are distributed inequitably—regardless of the actual value of the various techniques being deployed.” #Business

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“"We're all trying to get out of it, to be honest," said Andrea Walne, a general partner at Manhattan Venture Partners.” #Business

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“The startup, called GloriFi, initially aimed to launch with bank accounts, credit cards, mortgages and insurance, while touting what it called pro-America values such as capitalism, family, law enforcement and the freedom to “celebrate your love of God and country.” Within months, the investors’ money was nearly gone, and GloriFi was on the verge of bankruptcy.” #Business

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“Polls and studies show that women have embraced flexible and remote work, and opt to work from home slightly more often than men. But they also are liable to spend those additional hours at home on chores and child care, even when a partner is also working at home.” #Business

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“And because I’m still uncomfortable talking about company values, we’re going to do so by talking about something else entirely. We’re going to talk about Road Trips.” I appreciate this more human approach to values statements. #Business

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“The couple said they were sent disturbing items, including live bugs, a bloody pig mask, a funeral wreath and a book about coping with the loss of a spouse.” #Business

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On ESG: “Instead of measuring the risks that environmental and social developments pose to companies, raters and investors should measure the risks to humanity posed by companies.” #Business

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“Two years ago, her employer started requiring chaplains to accrue more of what it called “productivity points.” A visit to the dying: as little as one point. Participating in a funeral: one and three-quarters points. A phone call to grieving relatives: one-quarter point.” #Business

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“White's solution is to plan an "exit to community." Once the company starts earning income, it plans to buy out its investors and give their equity to the unions it helped organize, effectively transitioning corporate control to the customer base.” #Business

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“American Express' decision to begin donating to Republican objectors reflects the desire of some in the business community to put the events of January 6, 2021, behind them. That, according to an open letter recently signed by former American Express CEO Kenneth Chenault and other prominent business leaders, is a big mistake.” #Business

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““Most American neobanks cater to lower-income customers, who previously may have incurred overdraft, [non-sufficient fund fees] and maintenance fees at big establishment banks,” Mikula told Protocol. “But these consumers also tend to be higher credit risk, making it challenging to lend to them. No U.S. neobank has built a meaningful lending business.”” #Business

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“A Bank of America executive stated that “we hope” working Americans will lose leverage in the labor market in a recent private memo obtained by The Intercept. Making predictions for clients about the U.S. economy over the next several years, the memo also noted that changes in the percentage of Americans seeking jobs “should help push up the unemployment rate.”” #Business

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