American economy recession

Share to Twitter Share to Linkedin Topline Major U.S. companies have laid off thousands of employees so far this summer, as CEOs fear soaring inflation could tip the economy into a recession. Timeline Aug. 5, 2022 iRobot , the maker of Roomba, cut 10% of its workforce (140 employees), as the company restructures after being purchased by Amazon for $1.7 billion, the company told Forbes, adding the job cuts were not related to the acquisition. Aug. 4, 2022 California-based video game developer Jam City laid off between 150-200 employees — roughly 17% of its workforce — VentureBeat reported , stating the cuts come “in light of the challenging global economy and its impact on the gaming industry.” Aug. 3, 2022 Walmart —the largest private employer in the United States—plans to cut 200 of its corporate employees as the company seeks to restructure, the Wall Street Journal reported , citing anonymous sources. Aug. 2, … [Read more...] about Roomba Maker iRobot Cut 10% Of Its Staff: Here Are The Major U.S. Job Cuts As Recession Fears Grow

Share to Twitter Share to Linkedin Topline Support for immigration has hit a two-year low, according to a new Gallup poll released Monday, as a political battle heats up over Texas Gov. Greg Abbott’s strategy to send migrants from the Mexican border to Washington D.C. and New York City. Key Facts 27% of respondents said immigration should be expanded, marking a downward shift from a peak of 34% that supported increasing immigration in 2020 and breaking a 65-year steady rise in support for immigration, according to the poll of 1,013 people conducted between July 5 and July 26. 38% said immigration numbers should decrease, up from 28% in 2020, while 31% believe it should be kept at the present level. Meanwhile, opposition to expanding immigration, which had been dwindling since a high point of 65% in 1995, shot back up to 2016 levels (38%) in the new poll. Among Republicans, opposition to expanding immigration is up 21 percentage … [Read more...] about American Support For Immigration Drops, Poll Finds, As Tensions Flare Over Migrant Busing From Texas To NYC

New York (CNN) Even as some business groups cry foul over the tax provisions in the Inflation Reduction Act, economists at Goldman Sachs say the landmark bill will barely put a dent in massive corporate profits. To pay for historic climate investments, the legislation that passed the Senate on Sunday imposes a 15% minimum corporate tax and a 1% tax on stock buybacks. But the fallout from these tax provisions will be minimal, according to Goldman Sachs ( GS ) . The buyback tax and minimum corporate tax will lower per-share profits next year among S&P 500 companies by just 1.5%, according to a Goldman Sachs analysis published early Sunday. Companies that pay low effective tax rates -- such as health care and technology firms -- would see a bigger hit, the bank said. Overall, Goldman Sachs said the net fiscal impact of the Inflation Reduction Act "look very modest," translating to less than 0.1% of GDP over the next several years. That's … [Read more...] about Landmark climate and health care bill won’t crush corporate profits, Goldman Sachs says

Share to Twitter Share to Linkedin Lately you may be feeling uncertain about your job, your career or your future. News about the economy and companies who are laying people off or cancelling job openings are concerning, for sure. In addition, it’s tough to ignore all the press about everything from world conflicts and political polarization to weather catastrophes. You want to stay positive and engaged, but it’s tough. In fact, engagement is one of the best ways to shore up your job security and increase your value to your employer—and it just feels better as well. If you’re downhearted, you’re probably de-energized. And if you’re stressed, you’re probably also feeling fatigue and losing sleep. Engagement can counter these experiences. In addition, engaged employees are more secure. Your company will want to keep you around, or a new organization will want to hire you when you’re enthusiastic, energized and committed to great performance. High … [Read more...] about Engagement Is The Best Job Security: 5 Ways To Re-Engage When Things Are Going Downhill

Share to Twitter Share to Linkedin JetBlue and Spirit Airlines announced a merger, really the acquisition of Spirit by JetBlue, this week. The purchase price is $3.8 billion, with each Spirit shareholder to receive $33.50 per share. If the deal goes through (the U.S. Justice Department can say no) JetBlue will join a new “Big 5” of U.S. airlines. The news comes one day after Frontier Airlines, Spirit’s former suitor, terminated its bid for the airline. That concluded a love triangle….err, bidding war…that began with Frontier and Spirit first announcing a merger in February 2022. “Smells like merger Spirit,” wrote Helane Becker, Managing Director Industrials & Airlines & Airfreight Consumer at Cowen Inc, summing up the soap opera with a nod to Nirvana. “Spirit and Frontier agreed to merge in February. In April, JetBlue flew in with a better offer. Spirit continued to defend its decision to go with Frontier, assuming the transaction would receive … [Read more...] about JetBlue Wins Battle For Spirit Airlines, Now In Top 5 U.S. Airlines

Share to Twitter Share to Linkedin Steadily and stealthily over the past several months, many of your colleagues have been “ghost quitting,” which means they aren’t leaving their jobs, but they're mentally checking out. Some of these workplace specters are unhappy and would love for nothing more than to quit outright, but they may be afraid of the attendant risks. In today’s environment, it may be safer to stay put, wait and see how things go, and quietly bide your time until things turn around. These coasters are easy to spot: They do the bare minimum amount of work to get by. They’ll finish their assignments, but the end product is mediocre, at best. They’re in the office by the crack of 9:35 a.m., hoping no one notices. When spotted sliding in, they offer a vague, nonchalant excuse for being late. Two-hour lunch breaks are standard and they're in the elevator heading out for the day before 5 p.m. Their overall performance is just … [Read more...] about How To Know If Your Co-Workers Are Ghost Quitting

Share to Twitter Share to Linkedin August is traditionally one of the slowest months for hiring. The slowdown is comparable to the December holiday season. The major reason for the usual lull in the hiring process is that August is the last chance to take a summer vacation. Most families take time off around Christmas, Hanukkah and during the summer months, especially August. A new vibe sets in toward the unofficial last month of the summer. Three-day weekends, summer Fridays and mentally checking out of work are commonly accepted practices. It's an unwritten rule that this is the prime time for families to take their long-awaited trips to Disney, visit family, fly to Europe, check out interesting destinations across America or relax on a sunny beach, reading a trashy novel or just being in a moment of peace and tranquility. What To Anticipate When You're Interviewing If you are in search mode, be prepared for more than the usual ghosting, absence of … [Read more...] about Why It’s A Smart And Effective Strategy To Interview In August

Share to Twitter Share to Linkedin America is known for its compulsive work ethic. Some would even say it's an obsession. Pre-Covid-19, Americans would brag about their long hours worked. Many eschewed taking vacations or days off to show how important their jobs are. The pandemic, forcing people to stay home and making everyone aware of the fragility of life, has made the U.S. think more about the importance of balance between work and life. By many reports, China seems to have managed its Covid-19-related problems and returned to some sort of normalcy. According to the South China Morning Post , the Chinese, generally speaking, are as driven as Americans. However, there is one growing exception—Gen-Z. Chinese Gen-Zers—young adults born between 1996 and 2010—comprise roughly 15% of the country’s population. Given their size, it's expected that this group will leave an indelible mark on the economy, job market and society. Despite the disease, … [Read more...] about China’s Gen-Zers Are Slacking Off, Refusing To Work Overtime And Playing On Their Phones In Protest Of Long Hours And Low Pay

Share to Twitter Share to Linkedin As all seasoned fly-fishermen know, rivers tend to reach a kind of perfection in the waning light of the day. The drift boats have left the water, wind that foils a back cast often subsides, and the mercury-like water of the river reflects the greens, browns, and yellows of the surrounding grass, brush, and poplar leaves. The magic window starts slowly as trout begin to feed on hatching insects, dimples pockmark the surface as if light rain is falling. Then, the feeding reaches what appears a boiling point that reveals seemingly impossible numbers of fish. Many outdoor pursuits have a golden moment during the course of a day, and for dry fly fishermen—the highest form of the experience—this is it. Too, as any business consultant will tell you, being ready for opportune moments in life is a key part of success—however you define it. For Vista Outdoor CEO, Chris Metz, a part-time Montana resident and avid fly- fisherman, … [Read more...] about Vista Lands Iconic Fly-Fishing Brand Simms

As the climate, tax, and healthcare package now known as the Inflation Reduction Act of 2022 has made its way closer to passage than at any time previously thought possible in its 18-month existence, both the U.S. Chamber of Commerce and the Business Roundtable—a group of almost 200 CEOs from companies such as Apple, Walmart, and GM who back in 2019 pledged to address societal concerns alongside shareholder interests—have voiced opposition to it. advertisement advertisement The bill, though significantly pared back from previous iterations, still includes hundreds of billions in funding for climate and energy programs, making it a historic investment in addressing climate change. In response, Patagonia CEO Ryan Gellert asked corporate members of those groups to put up or shut up when it comes to climate action. “Many companies that belong to these organizations talk a big game on climate—just look at their websites,” Gellert wrote in a … [Read more...] about Patagonia CEO was right to call out corporate hypocrisy on climate change