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Productivity News
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Airbnb trims recruiting staff by 30% as part of cost-saving measures
- Airbnb has laid off 30% of its recruiting staff this week, affecting less than 0.4% of its total workforce.
- The decision does not indicate more widespread layoffs and the company expects to grow its headcount this year.
- In 2020, Airbnb laid off 25% of its workforce due to the pandemic's impact on global travel.
- The company expects headcount growth between 2% to 4% in 2023, compared to 11% in 2022.
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Mark Zuckerberg & wife Priscilla Chan invest $250 million in Chicago's new biohub
- Mark Zuckerberg and his wife Priscilla Chan invest $250 million in a new biotech hub in Chicago.
- The Chan Zuckerberg Biohub Chicago will collaborate with the University of Chicago, Northwestern University, and the University of Illinois at Urbana-Champaign to develop technologies for studying and measuring human biology.
- The initiative aims to embed miniaturized sensors into tissues to gain unprecedented understanding of how healthy and diseased tissues function.
- Biohub Chicago will employ 30 to 50 employees in an innovation hub in Chicago, which aims to become a leading biotech market with its top universities, central location, and large population.
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Study reveals surprising impact of managers on employees' mental health
- The influence of managers on employees' mental health is greater than that of doctors, therapists or partners, according to research.
- When it comes to prioritizing mental health over a high salary, Generation Z workers are the most likely to do so, while baby boomers are the least likely.
- A fifth of workers globally (20%) say that their job has a negative impact on their mental health, with women reporting a higher rate of negative impact (23%) than men (16%).
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This new workplace trend is helping companies & employees; here's how
- Quiet hiring is a workplace trend that involves finding new talent within the company without hiring new full-time employees.
- It enables companies to strategically address business needs by assigning existing employees to new roles, expanding their responsibilities, or hiring temporary workers for specific tasks.
- Quiet hiring is beneficial for employees as it allows them to work on challenging assignments, learn new skills, and advance their careers.
- To prevent attrition, companies should offer incentives such as additional compensation, one-time bonuses, extra personal time off, flexible hours, and working conditions.
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Ron Malhotra's 'Magnify YOU' venture aims to elevate thought-leadership to new heights
- Indian entrepreneur Ron Malhotra says the need for thought leaders is increasing, with demand particularly high in areas such as organizational change, life coaching, sustainability, business, and wellness.
- Thought leadership empowers individuals to develop skills, influence, and make a positive impact on society.
- The Magnify YOU program helps aspiring entrepreneurs turn their ideas into successful ventures.
- Thought leadership offers a game-changing opportunity for those with the vision, skills, and desire to make a difference.
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Alphabet lays off robots that cleaned cafeterias: Reports
- Alphabet's experimental department, Everyday Robots, is being shut down a little over a year after being promoted out of Alphabet's secretive X moonshot lab.
- The department developed and trained over 100 robots on wheels that were used to clean Alphabet's cafeterias, among other tasks.
- The project's technology and team will be consolidated into existing robotics efforts within Google Research.
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Jack Dorsey-led Block allays slowdown worries after mixed quarterly results
- Jack Dorsey-led payments firm Block announced on Thursday that it will significantly slow down its pace of hiring in 2023 to control costs.
- The company plans to grow its headcount by only 10% this year, a sharp slowdown from the 46% growth it achieved in 2022.
- Despite the slowdown in hiring, Block's gross profit jumped over 40% YoY in Q4, leading to an 8% jump in its shares in extended trading.
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₹3.5 lakh bonus for 19,700 employees: This company will reward staff amid record sales
- French luxury design firm, Hermes, will give each of its 19,700 employees a year-end bonus of €4,000 (₹3.5 lakh).
- The bonus comes amid record profits, with fourth-quarter revenues increasing by 23% year on year.
- Hermes is the third-largest brand in luxury fashion, with full-year revenues of €11.6 billion ( ₹1 lakh crore).
- The company will also distribute nearly €1.4 billion to investors via a dividend of €13 per share, up 63% from last year.
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From science-lover to DCGI: Rajeev Singh Raghuvanshi takes charge with a focus on problem-solving & nationalism
- Rajeev Singh Raghuvanshi has been appointed as the new Drugs Controller General of India, the top health regulatory position in the country.
- Raghuvanshi has extensive experience in the pharmaceutical industry, having worked for companies such as Ranbaxy Laboratories and Dr Reddy's.
- His colleagues and peers describe him as a problem solver, scientific, tech-savvy, and a believer in teamwork.
- Raghuvanshi is the first DCGI to come from the corporate world, and his colleagues believe his rich experience will help fix loopholes in the regulatory environment and create an enabling environment for pharma companies.
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‘India as a whole gives me hope’: Microsoft co-founder Bill Gates ahead of India visit
- Bill Gates praised India's progress in his blog 'Gates Notes' & announced that he will be visiting the country next week to witness innovative work by entrepreneurs.
- He praised India's ability to tackle multiple crises simultaneously and solve big problems at once, expressing hope for the future in his blog titled 'My message in India: To fight climate change, improve global health.'
- Gates highlighted India's success in eradicating polio, lowering HIV transmission, reducing poverty, and increasing access to sanitation and financial services.
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Vedanta founder Anil Agarwal visits college where his mum studied, recruits 100 women
- Vedanta Resources Ltd Founder and Chairman, Anil Agarwal, visited Banasthali Vidyapith, the oldest all-women university located in Rajasthan's Tonk.
- During his visit, he met 17,000 girls who are determined to make their dreams come true and become top CEOs and leaders.
- Agarwal recruited over 100 talented women from the university to work with Vedanta Resources Ltd.
- Agarwal has been vocal on social media in praising Indian women and their role in leading the country forward.
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McKinsey to cut 2,000 jobs in one of its biggest layoffs: Reports
- McKinsey & Co is reportedly planning to cut around 2,000 jobs, primarily in its support staff, according to sources cited by Bloomberg News.
- The move is said to be part of the consulting giant's Project Magnolia, which aims to restructure the way its non-client-serving teams operate to better support and scale with the firm.
- The layoffs follow similar moves by other professional services firms, including KPMG, which recently announced plans to cut nearly 2% of its US workforce.
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Bombay Shaving Company CEO slammed over LinkedIn post praising tired employee asleep in autorickshaw
- Shantanu Deshpande, CEO of Bombay Shaving Company, wrote a LinkedIn post praising an employee named Shanky Chauhan for being the "heartbeat" of the company.
- In the post, Deshpande also expressed concerns about Shanky's health due to his commitment to the company and tendency to work long hours.
- The post received criticism from some people who see it as an example of "hustle culture," but others saw it as a genuine expression of appreciation for an employee.
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'Contribution margins 1, 2, 3 are rubbish, Sach bol do': Naukri.com's Bikhchandani
- Sanjeev Bikhchandani, the founder of Nakuri.com, took a jab at newer companies that use multiple measures of unit economics.
- He said that, founders should clearly communicate about their profitability in the interest of corporate governance.
- "Founder should give bad news early and not disguise the unit economics... Contribution margin 1, contribution margin 2, contribution margin 3 is all rubbish. Sach bol do (Say the truth)," he said.
- Bikhchandani, an investor in Zomato and Policybazaar, advised business founders to achieve profitability and decrease costs even if it hurts. He even urged founders take huge wage cuts to swiftly reach profitability.
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UK's largest-ever trial of 4-day work week declared a 'huge success'
- The UK recently concluded its largest-ever trial of the four-day work week, which involved 61 organisations and approximately 2,900 workers.
- The trial found that most companies participating in the study have decided not to return to the five-day standard work week.
- In addition, the trial found that one-third of the companies are ready to make the change to a four-day work week permanent, suggesting that the trial was successful in demonstrating the feasibility of this alternative work arrangement.
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