Author: arthursheikin@gmail.com

[ad_1] Russia’s jobless rate is at a record low due to a labor crunch — but that’s only part of the story.A wave of “hidden unemployment” is building as companies slash hours and quietly cut staff. Russian President Vladimir Putin acknowledged the trend on Tuesday.”Hidden unemployment is growing, meaning that some workers are in the so-called downtime, employed part-time, or are at risk of being laid off,” Putin said at a meeting on economic issues. The term “downtime” refers to periods when employees remain on payroll but are not working, often due to a slowdown in production.Official figures show the…

[ad_1] AI slackers, beware.Many companies are now tracking how often their employees use AI tools such as ChatGPT, a move aimed at maximizing their investments in the trendy tech. Like it or not, workplace experts say this means that staffers who don’t hop aboard the AI train risk getting a poor performance review or worse — a pink slip.”You need to understand that this is where the world is going and spend the time to upskill yourself,” said David Martin, head of Boston Consulting Group’s global people and organization practice.Google has been tracking the increase in hours of productivity created…

[ad_1] Kevin would hyperfixate on bad memories. Masiel would snack. Sara would cry on her way to work.”Quiet cracking” describes the silent struggle of feeling dissatisfied at work and unable to leave. Frank Giampietro, EY’s chief well-being officer, told Business Insider that these employees “feel stuck where they are.”Unhappy workers can stay because they need the paycheck or because they worry that another job would be more of the same. Recently, a rocky job market has left many workers feeling like they can’t change positions. And sometimes it’s just easier to maintain the status quo. After all, change can be…

[ad_1] This as-told-to essay is based on a conversation with Daniel Snell, a 53-year-old cofounder and CEO of Arrival, based in London. The following has been edited for length and clarity.As efficiency starts to improve, whether driven by AI or not, underperformers will get squeezed out.I’ve been running my management consulting and social impact company, Arrival, for 20 years now. Lately, I’ve experienced investors and business leaders hoping that AI can unlock efficiency, productivity, and performance to get organizations growing again.Having worked with senior leaders at companies like Tesco and GSK to help develop high-performing teams, I tell my clients…

[ad_1] Months ago, Ahmet Tozal took out three credit card loans and withdrew his life savings to make a fortune off crypto.The 44-year-old Turkish garment worker, who lived in Istanbul at the time, said he’d been goaded by a new friend who contacted him via a random WhatsApp message in 2023.The woman claimed she’d messaged him accidentally, but was friendly and seemed interested in Turkey, Tozal said. She told him she was a wealthy businesswoman who would soon be visiting his country on holiday.Tozal said she sent him dozens of photos of herself, a young East Asian woman traveling the…

[ad_1] Eduardo Noriega spent over a decade preparing for the possibility that Microsoft would one day lay him off. When that day came, he was ready.In May, after 17 years with the company at its Redmond, Washington, headquarters, Noriega learned his role as a senior software engineer was being cut. He told Business Insider he’s extremely grateful for his time at Microsoft. However, he started having concerns about job security amid the Great Recession when, less than a year into his role, the company announced plans to cut about 5,000 workers.”When I saw the layoff, I realized that job security…

[ad_1] Not all McDonald’s promotions are created equal.This week, the fast food chain hit the jackpot in Japan with the help of colorful trading cards emblazoned with Pikachu the lightning rat, the source of much millennial nostalgia.The fast food chain announced that from August 9 to 11, customers could snag an exclusive pack of Pokémon cards with every Happy Meal purchase. Each set was priced at roughly 500 yen, or $3.50, with a five-meal-per-person limit.But before the first day was over, McDonald’s pulled the plug on the promotion. The deal had morphed into a chaotic sprint for superfans and scalpers…

[ad_1] The criteria to get into Robinhood’s founders club: Be among the 150 best-performing people at the company.In an episode of the “Cheeky Pint” podcast published on Wednesday, Robinhood’s CEO Vlad Tenev said he has created a community of the best people across the company to ensure he is not just interacting with direct reports.”When I induct people into this community, I usually give a spiel,” he said. “If there was a disaster or some kind of apocalyptic scenario, and we had to rebuild Robinhood with 150 people, you would be in that group.”Tenev, who cofounded the company in 2013,…

[ad_1] Michael Burry bet big on stocks in the second quarter, swapping out bearish put options for bullish call options and adding several fresh holdings to his portfolio.The investor of “The Big Short” fame revealed in a quarterly filing on Thursday that he purchased calls on Alibaba, ASML, JD.com, Estee Lauder, Lululemon, Meta, Regeneron, UnitedHealth, and VF last quarter.Burry’s Scion Asset Management also built direct stakes in Bruker, Lululemon, Regeneron, UnitedHealth, and MercadoLibre, while cutting his direct wager on Estee Lauder from 200,000 shares to 150,000.The UnitedHealth wager is notable as Warren Buffett, one of Burry’s key influences, also invested…

[ad_1] It seems Warren Buffett has healthcare on his mind as he approaches retirement.The 94-year-old investor’s Berkshire Hathaway scooped up just over 5 million shares of UnitedHealth stock last quarter, securing a stake in the health insurer worth $1.6 billion at the end of June. The new holding was revealed in the conglomerate’s quarterly portfolio update, known as a 13F, on Thursday.It’s unclear whether Buffett or one of his two investment managers, Todd Combs and Ted Weschler, made the stock pick. But it’s certainly notable as one of Berkshire’s final bets with Buffett at the helm. The “Oracle of Omaha”…