Market Watch

Semiconductor manufacturing equipment maker Lam Research Corp. plans to lay off 1,300 employees from its overall workforce. The cuts amount to roughly 7% of the Fremont-based company’s global workforce and will affect a wide swath of its staff, CEO Tim Archer said on a conference call with analysts and investors Wednesday afternoon. Lam’s layoffs arrive as demand for certain types of chips — and the equipment that makes them – has slowed in recent months. "While the reductions are broad-based across the company, we have taken special care to preserve, and in some cases increase, our investments in the critical (research and development) efforts, which I believe are key to Lam’s long-term growth and competitiveness," Archer said. It was not immediately clear how many Bay Area employees would be affected by Lam’s cuts. Company representatives declined to comment on where the cuts will take place. Of its 17,000 employees, 3,693 people are based in Silicon Valley, according to Business Journal research from 2022. Technology Employers Ranked by Total Silicon Valley employment Rank Business name Total Silicon Valley employment 1 Alphabet/Google LLC 36,603 2 Apple Inc. 25,000 3 Tesla Motors Inc. 22,000 View This List Despite the cuts to staffing, […]

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"Happier employees equate to more productive employees," Brist Manufacturing Owner Brendan Pape said. He knows time is money, but to him, time with his wife and kids is much more valuable. "I’ve got two little boys, 1-and-a-half and 4. That family time is really precious," Merklinghaus said. So, when workers needed a morale boost, a year into the COVID-19 pandemic, someone suggested moving to a four-day workweek. Owner Brendan Pape was reluctant. "I couldn’t see how it could work," Pape said. "This doesn’t pencil out. No way." But Pape eventually agreed — switching his 50 employees to a work week of four, 10-hour days. The experiment was supposed to last six weeks. That was two years ago. "I think at that six week mark we didn’t even really circle back because things were working," said Pape. "We were able to maintain numbers and output. Everything was great." Under the four-day plan, Brist saw growth increase by 35%, and employee happiness go off the charts. That falls in line with a a trend seen around the world. In the first large scale study of the four-day workweek, the nonprofit 4 Day Week Global partnered with Harvard Business School, Oxford University […]

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Compton College President Keith Curry at commencement Photo Credit: Tracy Breshears/Courtesy of Compton College Compton College was in serious trouble. Because of significant financial problems and reports of corruption on its governing board, the Accrediting Commission for Community and Junior Colleges revoked the institution’s accreditation in 2005. It took 12 years to get it back. There’s a real chance that reaccreditation wouldn’t have happened had its trustees not hired Keith Curry in 2011 to serve as the College’s 12th president. This proved to be a really smart business decision. “What Dr. Curry and the Compton College community accomplished in regaining ACCJC accreditation isn’t a miracle – it’s instead a testament to what excellent, focused leadership and a dedicated college that wants to serve its community can do when they work together,” says Pasadena City College President Erika A. Endrijonas. Since Curry became its CEO, Compton has completed nearly $118 million in renovations and new building construction projects. He also has secured over $250 million for additional construction and student success initiatives. In impressive fashion, Curry has drastically improved the institution’s business affairs while simultaneously establishing it as a nationally-recognized leader on equity in higher education. “Racial Equity is essential […]

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When it comes to the spread of cockamamie conspiracy theories, Twitter was a maximum viable product long before Elon Musk paid $44 billion for the keys. But as soon as he took the wheel, Musk removed many of the guardrails Twitter had put in place to keep the craziness in check. Anti-vaxxers used an athlete’s collapse during a game to revive claims that COVID-19 vaccines kill people . ( They don’t .) Freelance journalists spun long threads purporting to show that Twitter secretly supported Democrats in 2020. ( It didn’t .) Musk himself insinuated that the attack on Nancy Pelosi’s husband was carried out by a jealous boyfriend. ( Nope .) Like a red thread connecting clippings on Twitter’s giant whiteboard, conspiratorial ideation spread far and wide. By some measures more than half of Americans believe at least one tale of a secret cabal influencing events. Some are more plausible than others; a few are even true. But most — from classics like the faked moon landing to new-school stuff like 5G cell towers causing COVID — defy science and logic. And while social-media platforms like Twitter and Meta may help deranged conspiracy theories metastasize , a fundamental question […]

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ROME, Jan 26 (Reuters) – Morale amongst Italian businesses rose in January but consumer confidence worsened, national statistics bureau ISTAT reported on Thursday, pointing to uncertain economic prospects at the start of the year. ISTAT’s manufacturing confidence index increased to 102.7 from 101.5, beating a median forecast of 101.8 in a Reuters survey of nine analysts. The overall business morale index, which also includes the retail, services and construction sectors climbed to 109.1 from 107.9. Consumer morale, however, dropped to 100.9 from 102.5, missing a Reuters’ forecast of 102.7. Economic growth in the euro zone’s third largest economy held up better than expected for most of last year despite sky-high energy costs exacerbated by the war in Ukraine. However, gross domestic product probably contracted in the fourth quarter of 2022 and will also fall in the current quarter, according to Treasury estimates.

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A famous man quoted the Russian proverb, “Doveryai no Proveryai.” Translated it means trust but verify. Experience has taught me that’s a sound piece of advice for business leaders, too. I say that after dealing with countless business owners who have said “I trust my gut” when making important decisions about marketing or other strategies. What we refer to as “gut feelings” are really the instincts we develop based upon our experiences. I’m sure you’ve had the experience of meeting someone or considering a business deal and felt all sorts of alarm bells warning you something wasn’t quite right. We credit our guts because that’s where we often feel that anxiety. Much of the time, those warnings from our gut are on target. Most business owners (myself included) can recall situations in which ignoring those gut feelings led to regret. Maybe it was an interview with a candidate who had a great resume but turned out to be a lousy hire. Perhaps it was an equipment purchase that quickly generated buyer’s remorse. It could have been an estimate that came back to bite you. It’s good to pay attention to what your gut tells you, but when you ignore […]

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Starting A Business: Tips And Strategies To Get You Going getty Starting a business can provide you with incredible experiences and opportunities, but with these come unique challenges, unlike those faced in any other profession. Running a business requires risk-taking, a willingness to learn from mistakes, the ability to adapt quickly, and the capacity to lead and motivate others. Entrepreneurs must make tough decisions, persevere when times get tough and stay focused on their objectives despite many distractions. While there can be plenty of uncertainty in starting a business, the potential rewards are worth it. Whether it be increased financial resources or meaningful work that drives success for yourself, colleagues, and customers – if you’re ready to take on the challenge of entrepreneurship, you could have an incredibly rewarding journey ahead of you. Whether you’re just starting out or looking for ways to improve what’s already established, these tips will help you get started on your journey toward success: 1. Business plan development Writing a comprehensive business plan is one of the best things you can do for your business. A thorough business plan should include an executive summary, company description, market analysis, management team overview, organizational structure, product/service […]

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The Department of Justice filed a lawsuit against Google, accusing the tech giant of anticompetitive behaviors that ‘severely weaken, if not destroy competition in the ad tech industry.’ A Google spokesman said the lawsuit ‘attempts to pick winners and losers.’ Photo: Al Drago/Bloomberg News The latest U.S. lawsuit against Google compounds the legal issues the company faces worldwide while broadening the scope of the government’s allegations around the tech giant’s online advertising business. The suit also comes as Google faces one of the most competitive environments for its core business in recent memory, with the rise of apps such as TikTok and emerging artificial-intelligence programs fracturing the attention of internet users. Last week, Google completed its largest layoffs in company history, signaling it feels pressure to cut costs. Google is now in battle mode. It has hired high-powered lawyers, including a former litigator from the Justice Department’s antitrust division, to build a defense as it tries to protect its position in the search, mobile-software, online-video and ad-tech businesses that helped make it a $1.2 trillion company. Those four self-reinforcing pillars have helped create the world’s largest digital-ad business, bigger than that of rivals such as Meta Platforms Inc. and […]

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Mayor Craig Greenberg believes Louisville needs a new approach to economic development. At a gathering on local business leaders held at The Olmsted on Wednesday, Greenberg said the city has too many obstacles that make it hard for companies to create good-paying, career path jobs in the community. "Right now, there is simply too many barriers and too much red tape between a good idea and a great start," Greenberg explained. "There are too many barriers between a desire to invest in our city and a grand opening. Heck, there is too much time between submitting a plan and getting a permit to act on that plan. "When you approach the city about planning, about starting a business, about growing your business, about an initiative that your nonprofit organization wants to work on, there should be no question that your city government is on your side." Greenberg shared his remarks at the first installment of Greater Louisville Inc.’s 2023 Capitol Connection series, presented by Norton Healthcare. The series connects the business community with elected officials and political leaders on key local, state and national issues. Greater Louisville Inc. (GLI), the regional chamber of commerce, also unveiled its 2023 Local […]

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Layoffs are making headlines. What’s really going on in the job market Hong Kong/London CNN — IBM and SAP are the latest tech companies to slash thousands of jobs , as they reorganize businesses and profits come under pressure from a slowing global economy . IBM (IBM) announced the cuts Wednesday, saying they were related to the previously announced spinoff and sale of two business units. Some 3,900 positions, or 1.5% of its global workforce, are expected to go.The move will cost IBM (IBM) about $300 million this quarter, a spokesperson confirmed. SAP (SAP) , Europe’s largest software company, will lay off 2.5% of its global workforce of 112,000 , or around 2,800 employees, according to an earnings report published Thursday. The restructuring will cost between €250 million ($272 million) and €300 million ($381 million); the company’s shares were down 3.3% in Frankfurt. In a live streamed presentation to reporters, SAP CEO Christian Klein said that the restructuring was “targeted” and would allow the company to invest in the areas “where it really matters for SAP to be competitive in the future,” particularly its cloud business. The news comes as other major tech companies downsize their workforces around the […]

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