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Citi CEO Jane Fraser speaks at the Milken Institute Global Conference in Beverly Hills, CA on May 1, 2023. (Photo by Patrick T. Fallon / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
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G.We just wrapped up two days at the Milken Institute Global Conference. At his annual Hullabaloo event, CEOs, politicians, celebrities and investors converge in his single hotel, perhaps more tightly packed than any other gathering outside of Davos. The moment I walked in, there was California Governor Gavin Newsom holding court in the lobby of the Beverly Hilton. On stage: Citigroup CEO Jane Fraser. At the Forbes video booth, he is Bill McDermott, his CEO of ServiceNow.
I moderated a panel discussion on skills-based hiring and its implications for economic expansion. This is where many employers are starting to move away from requiring a college degree for many jobs to help diversify their workforce. After all, many jobs that now require a college degree don’t really require the skills people learn in school.
The panel also included Sophie Ruddock, Chief Operating Officer of Multiverse. Debbie Dyson is the new CEO of OneTen. OneTen aims to get her million blacks without a degree into jobs that support families in the next decade. and OneTen co-founder and former American Express CEO and Chairman Ken Chenault. One thing they shared with me is that OneTen counts about 87,000 jobs as current progress toward its ultimate goal.
The conference was a dizzying mix of panels, interviews, sideline meetings, and sponsor parties, but Assistant Managing Editor Diane Brady and I, including Pete Stavros, Global Co-Head of Private Equity at KKR, I was able to spend time with different leaders. His efforts to make employees stockholders of portfolio companies. Chenault, on his take on the debt ceiling controversy. And for his Gen Z nostalgia like myself, we chat with Esprit CEO William Pak about bringing his iconic ’80s fashion brand back to the US. forbesClick here for the YouTube channel.
As always, thank you to Assistant Editor Emmy Lucas for helping curate this week’s newsletter. A new email about the future of work aimed at workplace leaders, talent her managers, and HR executives.She will be launching and writing her newsletter. About it soon! I hope you have a wonderful week.
Feature article
Vibe Check: Amid Rising Layoffs and An Uncertain Economy, Big Tech Is Losing Its Class ‘Glow’ For 2023
Nearly 140,000 people lost their jobs last fiscal quarter, more than in the last two quarters combined, due to massive layoffs at US companies. forbes layoff tracker. Many of the 2023 classes are now shifting focus. According to a survey of 954 student users on Handshake, a job search platform for college students, the percentage of 2023 graduates who said a company’s brand was a factor in their job search will drop from the summer of 2022. He is down 10% through spring 2023. , the percentage of people who prioritized fast-growing companies in their job search dropped from 39% to 19%. You can read more about my story with Emmy here.
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news from the world of work
IBM plans to suspend hiring of AI-enabled jobs. IBM plans to stop hiring people over the next five years to fill jobs the tech giant believes AI can address as concerns grow about the impact of artificial intelligence on jobs. said. CEO Arvind Krishna told Bloomberg that this will affect about 30% of the roughly 26,000 non-customer-facing jobs, such as HR jobs, resulting in a total loss of about 7,800 jobs.
Writers go on strike: The Writers Guild of America declared a strike on Monday after contract talks between the Writers Guild of America and Hollywood Studios broke down. It’s the first such break in work by a film or television writer since 2007. forbes Siladitya Ray reports. Conor Murray delves into how strikes affect your favorite shows, contributor David Bloom examines the impact on late-night TV shows, and Toni Fitzgerald offers her five lessons to learn .
Women tasked with repairing dwellings: forbes Diane Brady and Brittany Lewis help make the housing market more affordable, accessible and fair as millions of Americans struggle to buy or rent new homes I spoke with four female leaders who are
Brave business trips this summer: Remember last year’s nightmare of thousands of flight cancellations, endless queues and lost luggage? If your company is increasing business travel again, be prepared forbes Suzanne Rowan Kelleher advises how to book smarter and fly inside another Air-mageddon.
Helps Your Mental Health: May is education and awareness month for mental health issues. As contributor Gleb Tsipursky writes, how employers are addressing and supporting work-from-home burnout and Zoom fatigue, corporate culture, remote work policies, and employee mental health needs. need to think strategically about
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book club
Ever walk into a networking event or meeting and struggle to get along with others? Friendliness: 21 Rules for Mastering the Art and Science of Relationships in Life and Business, Author Joe Brocato offers a playbook of 21 rules for building intimate and lasting relationships with anyone.
