While companies downsize for a plethora of business reasons — to reduce redundancy after a merger or acquisition, to revamp corporate strategy, or to improve the bottom-line — much of the current job shortage has direct links to the subprime mortgage collapse still reverberating across the country in 2008. Just a few days ago, Citigroup reported record losses ($9.83 billion in the fourth quarter) due to bad mortgage-related investments and loans and will reportedly be slashing 4,700 jobs. With housing prices nosediving and credit becoming ever more difficult to obtain, jobs in manufacturing and construction have been hardest hit, totaling 47% of mass layoffs last year. White-collar jobs are hardly any more secure. Companies that service the housing industry (insurance, mortgage, real estate brokers and banks) were quick to downsize; jobs from media and technology to the usually strong biotechnology/pharmaceuticals also followed suit as a reaction to weak performance in a … [Read more...] about Top Jobs 2008: A Guide to Layoff Survival
Reaping havoc or wreaking havoc
Last month, SpaceX became the operator of the world’s largest active satellite constellation. As of the end of January, the company had 242 satellites orbiting the planet, with plans to launch 42,000 over the next decade. This is part of its ambitious project to provide internet access across the globe. The race to put satellites in space is on, with Amazon, U.K.-based OneWeb, and other companies chomping at the bit to place thousands of satellites in orbit in the coming months. … [Read more...] about What happens when all the tiny satellites we’re shooting into space get hacked?
Energy ship broker and consultancy firm Poten & Partners has said that at least five LNG cargoes had been diverted from China, and another 30 due toland there this month could face diversions, delays or force majeure declarations. For the LNG industry, this kind of force majeure situation had never happened earlier and therefore there is this panic. … [Read more...] about Explained | Why LNG prices are falling and what’s the outlook
I’m standing in the middle of a crowded living room full of my favorite people. All around me, I hear a cacophony of opinions about where to dine. There’s 12 of us, and we’re all getting impatient, louder, and more than a little hungry. Over 30 minutes later, and no one can decide on where to eat. Instead of opting for trying something new, we end up ordering pizza. Again. … [Read more...] about You don’t have to have a big team to achieve big things
How to cultivate your personal board To create your board, seek relationships with different people who can provide insight based on their various skills and backgrounds. It’s similar to what a business would seek in their corporate board members. Remember, you’re creating an informal board. You won’t actually hold board meetings or officially invite people to join. Instead, you’ll cultivate your board by asking an individual what they think about a certain situation or problem you’re facing. Over time, your personal board of advisors will be a small handful of mentors, most of whom will fit in more than one of the following categories: … [Read more...] about Why every professional should recruit a personal board of advisers