Elon Musk Bans Remote Work at Twitter: TOP 5 Trends From The World Of Work

What else matters this week?

In light of COP27: How to make the Green Transition work for every worker.

The case for being optimistic about the future.

British hedge fund asks Google’s parent company Alphabet to cut staff and reduce expenses.

European markets lower as geopolitical tensions rise following Poland missile incident.

We’ve got a full breakdown of all the top headlines you can’t miss this week.

#1. Elon Mush bans remote work at Twitter.

In his first email to staff, Elon Musk – the new owner of Twitter – has banned remote work. The new leader told worker that the social media platform needs “intense work” in the office to turn around its fortunes. “The road ahead is arduous and will require intense work to succeed,” he wrote in a company-wide email sent to employees, reported by the Financial Times. Employees will need to come into the office for a minimum of 40 hours per work, except for those “physically unable to travel” or those with “a critical personal obligation,” the email read. Read more at the Financial Times.

#2. The power of “reverse mentorship.”

When we use the word mentorship, we’re normally referring to a type of top down leadership and teaching. But traditional notions of mentoring are changing, and younger workers are now teaching their managers a thing or two. In the pandemic era, this type of learning has fresh potential to help companies overcome challenging surrounding hybrid work, diversity and inclusion, and generational divides. Read more at the BBC.

#3. Big tech job cull may mark the start of things to come.

Is growth in the tech industry finally slowing down? In the past few weeks, tech companies across the globe have cut thousands of jobs. Elon Musk moved to axe a significant portion of Twitter’s workforce, while Facebook parent Meta announced 11,000 layoffs – or more than one in eight workers. Those are just two of dozens of companies moving to cut their workforce, marking one of the most visible signs that tech hiring boom may be slowing down. Read more at the Financial Times.

#4. Apple is still hiring…Slowly.

Tech firms have begun cutting jobs, but there’s one company not following suit: Apple. “We’re being very deliberate on our hiring,” CEO Time Cook says. “That means we’re continuing to hire, but not everywhere in the company are we hiring.” Instead of slashing expenses, Cook says, Apple believes in “investing for the long term.” In addition, the CEO said most people don’t come into the office five says a week. Read more here.

#5. Euro zone predicted to have deep recession and difficult recovery

The euro zone is expected to plunge into recession in the coming months, and economists warn “it will not be shallow.” The 19-member zone that shares the Euro currency has been under significant pressure since Russia’s invasion of Ukraine. Sanctions, an end to Russian gas imports and the need to provide financial support to both households and firms has only made the bloc’s outlook much bleaker.

“Consumer confidence has plunged so badly that the recession will likely not be shallow,” Holger Schmieding, chief economist at Berenberg, told CNBC. Read more at CNBC.