The Real Reasons For Big Tech Layoffs At Google, Microsoft, Meta, And Amazon

 

 Between them, some of the world’s biggest tech companies have collectively laid off more than 150,000 workers in recent months. The businesses involved have put forward a variety of reasons for why this was necessary, which mostly come down to a need to reduce costs as economic growth slows down around the world

 In truth, it isn’t likely to be because the companies involved need money. MicrosoftMSFT +2.1%, which is reported to have laid offaround 10,000 employees, practically simultaneously announced that it plans to invest $10 billion in OpenAI, the creators of the viral application ChatGPT. It seems likely that there is a business reason at the heart of the decision to invest a sum that would equate to $1 million per laid-off employee in an AI company.

 Likewise, Google'sGOOG +2% parent company AlphabetGOOGL +2% announced plans to reduce its global headcount by 12,000 – a cut of around 6%. CEO Sundar Pichai has previously described AI as the most transformational technology of all time, and in making the layoffs, stated that the strategy will be to “direct our talent and capital to our highest priorities.” It’s widely thought that Google is working on its own AI-powered answer to ChatGPT that will be announced soon.

 Together, four of the biggest tech companies – Meta, Alphabet, AmazonAMZN +2.6%, and Microsoft – have cut 50,000 jobs. Meanwhile, Twitter’s incoming new boss, Elon Musk, is said to have fired half of the company’s employeeswhen he took over at the end of last year.

 So, what is the true reason for these mass cuts that have left tens of thousands (80% of them in the US) out of work? This was what data experts at 365 Data Science attempted to get to the bottom of when they decided to run their own analysis of the figures.

 Some of the findings were perhaps not that surprising. It’s known that tech companies — buoyed by record revenues — undertook a hiring spree during the Covid-19 pandemic. Salaries hit record levels as competition raged for the top talent, and the media was full of stories of lavish perks. So, it’s not a shock to find that the median time a recently laid-off employee has been in their role is roughly two years. This could suggest that, in some ways, these cuts represent a winding-back of hiring policies put in place since the pandemic.

More surprising though, was the fact that the median level of experience held by those who were let go is 11.5 years. So, it's not necessarily true that these are all junior workers with little experience who could be quickly replaced or possibly even have their roles automated. One possible reason for this statistic could be that longer-serving employees tend to receive higher salaries, and cutting them could help businesses meet their financial targets.

However, it is interesting to note that the roles and job functions most affected were within HR, which accounted for 28 percent of all layoffs. There are two possible reasons for this – firstly, it follows that if companies are laying off staff, they will also be cutting back on recruitment, and less recruitment means less need for HR staff.

A second, though perhaps just as relevant reason, however, is that HR is an area where some functions are being replaced by automation. Platforms already exist that aim to automate routine tasks related to interviewing and onboarding new hires, such as checking references, verifying identities, and carrying out health and safety assessments. In recent years, it’s even been reported that companies such as Amazon have used AI to identify low-performing staff and then fire them.

 We also get some insight into how the roles that were affected differed between each company. While HR and talent sourcing were most affected at Microsoft and Meta, at Google and Twitter, it was software engineers who took the brunt of the cuts.

The data collected by 365 Data Science also shows that a narrow majority of the staff who were let go (56 percent) were female. This is worrying, given that the tech industry has spent much of the last decade attempting to address the gender imbalance already present within the field – particularly within technical and engineering roles. It doesn’t exactly send out a great message to potential new female hires that, as well as a pay gap and a lower likelihood of progressing into senior roles, they will have to content with a greater chance of being let go.

Finally, one more worrying statistic that jumped out at me from the report was the fact that only 10 percent of those laid off have thus far listed a new job on their LinkedIn profiles. Of course, it’s too early to tell whether this is likely to transition into long-term unemployment – many may simply be enjoying a break before jumping into job-hunting. Or, indeed may simply not have bothered to update their profiles yet. But monitoring how this statistic develops over coming months should give some interesting insights into whether or not it is still easy for skilled tech workers to move between jobs. It’s perfectly possible that a substantial number may choose to head into self-employment or the freelance gig economy.

So, is it the case that the tech giants simply expanded too far, too quickly? Or is it that innovations in AI and automation have created a situation where the fastest way to save money is to replace people with machines? In truth, it’s likely to be a little of both. None of the companies have specified automation as a driving force behind the moves, but given the job roles affected and reading between the lines, it’s tempting to draw the conclusion that it is a contributing factor.

How to Improve Your Memory, Problem-Solving, and Mental Processing Speeds in Just 6 Minutes, Backed by New Research

 

can't control luck. But you can control, at least to a degree, your level of intelligence. Your ability to make smart decisions. Your ability to learn, retain... and most importantly, use what you learn.

Want to increase your learning speed, make smarter decisions, and increase your overall intelligence? A new study just published in the Journal of Epidemiology and Community Health found that six to nine minutes of moderate to vigorous exercise can improve your working memory and significantly improve higher-level cognitive skills like organization, prioritization, and planning. 

("Moderate" exertion involves things like fast walking, slow jogging, or any activity that, while it's not easy, you can still can carry on a conversation. "Vigorous" exertion is just what it sounds like; cycling, swimming, HIIT workouts, fast jogging, etc.)

On the flip side, not getting a little exercise can have a negative impact on your mental abilities. The study found that cognition declined by 1 to 2 percent – not a lot, granted, but still – when eight minutes of moderate to vigorous physical activity was replaced by sitting.

As the researchers write: 

Relative to time spent in other behaviors, greater MVPA (moderate to vigorous physical activity) was associated with higher cognitive scores. Loss of MVPA time, given its smaller relative amount, appears most deleterious.

Efforts should be made to preserve MVPA time, or reinforce it in place of other behaviors.

Or in non researcher-speak, if you want to get smarter, get off your butt and get moving for at least six minutes a day.

Why "at least"?

The study found that the more time you spend exercising – up to a point, obviously – the greater the mental benefits. (And, of course, the physical benefits. Who doesn't love a double-dip?)

Other research agrees. For one thing, exercise can slow or even reverse the physical decay of your brain. (Contrary to conventional wisdom, new brain cells can be created.) Research shows exercise can increase the size of your hippocampus, even in your 60s and 70s, mitigating the impact of age-related memory loss. 

And if six to ten minutes sounds like too much, a meta-review of a number of studies published in Transitional Sports Medicine found that even "aerobic exercise for two minutes to one hour at moderate-to-high intensity improved attention, concentration, and learning and memory functions for up to two hours."

If you want a longer-term boost – who doesn't? – a study published in Proceedings of the National Academy of Sciences found that participants who walked briskly – shooting for a target heart rate of 60 to 75 percent of max – for forty minutes three times a week increased hippocampal volume by slightly over 2 percent. 

Walking briskly is, of course, just one way to exercise. Any form of moderate to vigorous intensity exercise will do the trick. The key is to exercise at a level that keeps your pulse between 60 and 75 percent of your maximum heart rate.

In general terms, your individual parameters may vary – your max heart rate is 220 beats per minute minus your age; if you're 40 years old, your target heart rate should be between 108 and 135 beats per minute. (Again, working sufficiently hard enough that it's difficult to carry on a conversation without having to pause to take deep breaths.)

Jogging. Cycling. Weight training (as long as you don't pause too long between sets.) Calisthenics. Burpees, my "favorite" vigorous exercise. (Doing burpees for six to eight minute straight will redefine "vigorous.") Yoga, Pilates, HIIT training.... basically anything you will be willing to do for at least six to eight minutes a day, consistently. 

Because, as with nearly everything in life, doing the right things over and over is the surest path to success.

Especially if the success you hope to achieve involves getting – and staying – a little smarter

MIT neuroscientist shares 4 things she never does to eliminate ‘brain fog and forgetfulness’

 

The alarm goes off. You get dressed, grab your coffee, and head to work. But by lunchtime, you start to feel disorganized. You reread emails because you lack focus and mental clarity.

There’s nothing worse than brain fog. In addition to stress and lack of sleep, it can be caused by the immune system creating an inflammatory response in the brain. This can lead to symptoms like poor concentration and memory, or difficulty making decisions.

As a neuroscientist, I study the causes of brain fog and forgetfulness. To avoid them, here are four things I never do:

1. I never let my body get tense for too long.

Even if you think you’re relaxed, your body may be physically tense (e.g., stiff neck, back or shoulder pain). This can be a result of stress from things like unfinished tasks or looming deadlines.

So when I notice that my body is tense, I immediately do an exercise called “box breathing”:

1. Inhale through your nose as you slowly count to four seconds.
2. Hold your breath for a count of four seconds.
3. Exhale through your nose, releasing all the air from your lungs, as you slowly count to four seconds.
4. Hold your breath for a count of four seconds.
5. Repeat for at least four rounds.

Box breathing is a simple way to help calm your brain. Studies also show that it can reduce levels of cortisol, which is the chemical produced when the body is under stress.

2. I never use screens one hour before bedtime.

As tempting as it might be to scroll through Instagram or watch TV before bedtime, these activities can be too stimulating for the brain.

 Instead, I try to read a book before turning out the lights. If that doesn’t help me sleep, I do a “relaxation body scan,” squeezing and releasing muscles — starting at my toes and all the way up to my head.

Ideally, we need about eight hours of sleep a night. More than that can lead to a depressed mood, and less than that doesn’t give the brain enough time to rest and reset.

3. I never load up on glucose.

If your gut isn’t healthy, your brainpower can falter, too. I strengthen my gut-brain axis by maintaining a diet rich in hydrating foods, healthy fats and digestible protein.

Most important of all, I try to avoid sugar. Your brain uses glucose (sugar) as fuel, but refined carbohydrates like high fructose corn syrup found in sodas are not good sources of fuel. Your brain gets a burst of too much glucose, then too little.

This can lead to irritability, tiredness, mental confusion, and impaired judgment.

I also eat foods rich in magnesium — whole grains, leafy greens, dried beans and legumes — to help regulate my mood and sleep cycle. And I make sure to have my last caffeinated drink of the day before 10:00 a.m.

4. I never go a day without meditating.

I meditate for at least 12 minutes a day.

Doing this at nighttime can help mitigate brain fog the next day:

1. Remove all distractions from your room.
2. Sit or lie down in a comfortable position.
3. Take deep breaths.
4. Quietly observe your thoughts.
5. Whatever thoughts come, simply acknowledge them return your focus to your breathing.

If you don’t like to meditate, you can do a mindful activity such as cooking or taking a quiet walk.

I also recommend coming up with a mantra that you can say in the morning, like: “Brain fog is a state of mind. I will go to bed early tonight and be fine tomorrow.”

By articulating your goals to yourself out loud, you can start to be more intentional about changing your habits. And through that repetition, your brain and body will start to follow suit.

 

New Notes: We Are Disappointed In Banks – Emefiele

 The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele says he is disappointed with the way things, noting that new naira notes are being used at parties.

He said this showed that commercial banks had breached the directives and guidelines given to them by the CBN.

 Emefiele made the remarks while shedding light on the new currency policy before the House of Representatives Ad-hoc Committee on Tuesday.

He said the apex bank had re-enforced its resolve to involve all the security and anti-corruption agencies in the arrest of saboteurs.

 He dded tha the benefit of the e-economy had started to manifest as inflation was not rising and no stagnation in the economy.

He further noted that kidnappings for ransom and other criminalities had been slightly curbed as beneficiaries of the criminal acts found it difficult to collect or move their illicit monies from their victims or their (the victims’) families.

He acknowledged that although some Nigerians may be affected by the bottlenecks, things would get better with time and more stringent measures being taken.

He however informed that the apex bank had deployed 30,000 agents to attend to Nigerians that are disadvantaged because of their locations and nature of businesses to have access to the currency swap.

Criticism against Ronaldo: I spent 200 million euros on Cristiano and he only knows how to say 'Siiiuuu'

 has been at the receiving end of criticism after Al Nassr's 3-1 defeat to Al Ittihad in the Saudi Arabian Super Cup

After a video went viral showing Al Nassr fans

 Cristiano Ronaldo's jersey, a new clip has been circulating on social networks, where an alleged Al Nassr director expressed his frustration about the result.

"Get out of here," the man said.

"I spent 200 million euros and he [Ronaldo] only knows how to 

go 'Siuuuu'. It's not possible." 

 

 

25 Least Developed Countries in Europe

 

 In this article, we take a look at the 25 least developed countries in Europe. You can skip our detailed analysis of the uneven development in Europe and go directly to the 10 Least Developed Countries in Europe.

Europe is the richest continent in the world on a per Capita basis but most of its high development is concentrated in the Western region. Some of the countries in Europe still lag behind in human development. These are primarily located in the Eastern region. 

For instance, GDP per Capita in Germany and the United Kingdom, two Western European countries, is $51,204 and $46,510, respectively. On the other hand, GDP per Capita in Moldova and Belarus, two Eastern European countries, is $5,231 and $7,302, respectively, according to 2021 figures from the World Bank

 There is a bit of a historical context to it. Countries in Western Europe had economically liberalized far earlier than other countries on the continent. Many countries in Eastern Europe were part of, or within the sphere of influence of, the Soviet Union, with centrally-planned economies, which stagnated development in the subregion. 

Eastern European countries started liberalizing after the dissolution of the Soviet Union. However, the results have been mixed. Some countries have liberalized far more successfully than others.

Consequently, Eastern European members of the EU joined it much later than their western counterparts, which further gave Western Europe an advantage in free trade, access to the European market and financial support. 

Countries in Eastern Europe also lacked the geographical advantage of Western European countries in larger connectedness with the world through trade routes in the Mediterranean Sea and the Atlantic Ocean.

 Lastly, structural problems within these countries like corruption and inefficient governance had only exacerbated the problem. According to the 2020 CPI, several Eastern European countries have relatively high levels of corruption, including Bulgaria, Romania, and Belarus, which all scored below 50 on a scale of 0 (highly corrupt) to 100 (very clean).

However, as many of the Eastern European countries have liberalized, the gap between the East and the West in Europe is closing fast. 

Many of the Eastern European companies are highly competitive globally. Further, US companies like Alphabet Inc. (NASDAQ:GOOG), Amazon.com, Inc. (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT) have been increasingly accessing Eastern European markets. 

 We have defined ‘least developed countries in Europe’ as ones that have relatively low GDPs per Capita as of 2021. In this regard, we’ve ranked them in descending order of low GDP per Capita.

With that in mind, let’s move on to the 25 least developed countries in Europe. Bear in mind, however, that Europe is a relatively highly developed region. Some of the countries on the list are above, or in-line with, the global average in development.

25. Czech Republic

GDP per Capita: $26,821

The Czech Republic lags behind many of its Western European peers due to several factors. The Czech Republic attracts relatively lower foreign investment than its western counterparts because of its comparatively small domestic market, which also makes it harder for it to achieve similar economies of scale. 

 However, it is certainly faring better than most other countries in Central and Eastern Europe. 

24. Portugal

GDP per Capita: $24,567

Portugal is located on the Iberian Peninsula. The two factors that have kept it behind Western European countries are productivity and huge public debt. 

According to the CaixaBank Research, Portugal’s GDP per Hour Worked in 2020 was only 73% of the EU’s and 66% of that of the EU Area countries. The country’s public debt is also an obstacle for the government to invest in public infrastructure. 

23. Lithuania 

GDP per Capita: $23,723

Lithuania’s transport and energy infrastructure is not as developed as Western European countries, making it one of the least developed countries in Europe, with a GDP per Capita of $23,723.

  

22. Slovakia

GDP per Capita: $21,392

Slovakia is a landlocked country in Central Europe. There are several reasons it lags behind its Western European counterparts, from a small domestic market, to low innovation rate and lack of structural reforms. 

Slovakia also has a high net emigration rate and the economy is almost entirely dependent on exports, comprising 94% of its GDP, leaving the economy vulnerable to externalities like demand shocks and trade tariffs. 

21. Latvia

GDP per Capita: $21,148

Latvia has a relatively low GDP per Capita of $21,148 as of 2021. It also has high income inequality and a high net-emigration rate, leading to brain drain in the country, and resulting in lower foreign investment

 

20. Greece

GDP per Capita: $20,193

Greece has had a history of economic mismanagement that led it to default on its IMF debt of $1.7 billion in 2015. Its unemployment rate is also the second highest in the EU, at 11.6% as of 2022. 

Moreover, Greece has had a poor track record of implementing structural changes like labor market reforms, privatization and pension reforms.

19. Hungary

GDP per Capita Ranking: $18,728

Hungary has structural problems that prevent it from reaching development levels similar to Western European countries. These include struggle with corruption and rule of law, low innovation, small domestic market and relatively low foreign investment.

18. Poland

GDP per Capita: $18,000

Poland has a huge economy but its human development is moderately lower than Western European countries. It is 38% of the average GDP per Capita of Western European countries. 

17. Croatia

GDP per Capita: $17,685

Croatia has a GDP per Capita of $17,685 as of 2021. The country receives lower levels of foreign investment than the wealthy European countries. Croatia is still recovering from the aftermath of the Yugoslav wars in the 1990s, which had resulted in significant damages to its infrastructure.

16. Romania

GDP per Capita: $14,858

Romania is the twelfth biggest country in Europe and one of the most populous countries on the continent. The factors that have hindered development in Romania include corruption, low investment, slow transition to market economy and low productivity, among others. 

 

15. Bulgaria

GDP per Capita: $12,221.5

Bulgaria is located in the Balkan region of Europe. Factors such as low productivity, lower foreign investment, an aging population, and low-skill industries have kept Bulgaria from reaching the development levels of its Western European counterparts. 

14. Russia

GDP per Capita: $12,195

Russia is the biggest country by area, and the ninth most populous country in the world. However, despite having a huge GDP of $1.8 trillion, Russia is one of the least developed countries in Europe. It has to do with the fact that corruption is rampant in Russia. 

The Corruption Perception Index of 2021 ranked Russia in 136th position, indicating high levels of corruption in the country. Further, Russia’s economy was heavily reliant on the energy sector and exports to the EU countries. 

 However, in response to its ongoing assault on Ukraine, the EU and the UK have banned the import of Russian seaborne crude and put a price cap of $60 per barrel on oil it sells to other countries, to hurt its energy revenue. 

These measures, combined with other western sanctions, are expected to further hurt the Russian economy. Major global companies like Amazon.com, Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT) have seized their operations in Russia and left the country. 

13. Turkey

GDP per Capita: $9,661

Turkey is a transcontinental country located in both Europe and Asia. There are a number of factors why Turkey is not as developed as Western European countries. These include, among others, limited access to the European markets, bureaucratic inefficiency and a high net-emigration rate.

12. Montenegro 

GDP per Capita: $9,466

Montenegro is located in the Balkan region of Europe, and is one of the least developed countries in Europe. It is the result of a small population and a small domestic market with limited potential, combined with the aftermath of the Yugoslav wars, and challenges in fully transitioning to a market economy. 

11. Serbia

GDP per Capita: $9,230

Serbia is a landlocked country in Central Europe. There are many reasons the country lags behind in development. It is still recovering from the damages caused by the Yugoslavia wars, and political instability is a rampant problem in the country. 

5 easy side hustles to start with little to no money

 

 

• Some people may be looking for ways to earn ancillary income as experts warn of a recession. 
• Side hustles are one way to make extra money, and many cost nothingor very little to start.
• Founders share five of the low-cost side hustles that helped them make additional money.

The Mbappe vs Neymar PSG rivalry has no limits: Check the Frenchman's reaction after his teammate's freekick

The two men were warming up ahead of the duel at the Parc des Princes when the camera focused on Neymar who was about to take a freekick.

After the Brazil international sent the ball into the top right corner, the camera turned to Mbappe, who was left open-mouthed.

Neymar opened the scoring a few minutes into the second half, but PSG failed to grab all three points against Reims, who netted a late equalizer to snatch a 1-1 draw on the road.

PSG remain top of the Ligue 1 table, but there has been concern at the team following their last few performances

Waking up at 5 a.m. every day could improve your life—here’s how to make it work for you

 

 The early morning wakeup has even become a TikTok trend coined the “five-to-nine before the nine-to-five,” where video montages illustrate a slow morning aesthetic of self-affirmations, workouts, and maybe even a head start into planning for the work day. It can make the rest of the world feel lazy. 

“The pressure to be a morning person is pretty intense,” says Samantha Snowden, a mindfulness teacher at Headspace, the popular meditation app. 

So, will waking up at 5 a.m. make all the difference to your day? Some experts say yes.

For starters, getting up earlier can improve confidence, Snowden says, because it can feel like an accomplishment. And there’s something to be said for not constantly feeling like you’re in a rush, which only elevates stress levels and negatively impacts mental health.  

“It’s like always feeling like you are behind in a race you can’t possibly win, which isn’t useful for motivation or positivity,” says ​​Dr. Nikole Benders-Hadi, a psychiatrist based in New York and the medical director of behavioral health at Included Health, about the typical workday morning. 

Slowing down helps our nervous system ease off the gas and helps regulates our thoughts, Snowden says. And if you can use those extra morning hours to make time for yourself in a way that calms you down, it can bolster productivity and make you feel less depleted by the end of the day. 

If you’re contemplating rising before the sun, experts say you need to keep in mind the following: 

Don’t sacrifice sleep 

Choosing to move up that alarm should not come at the expense of sleep. Over time, a lack of sleep can lead to negative mental health outcomes like anxiety and depression and put people at risk for chronic illnesses, like heart disease. 

“Everyone has a different kind of job with different kinds of demands, and a lack of sleep can present many challenges for us, as far as emotion regulation [and] our ability to focus,” Snowden says. “These are big capacities that we need to get through the day, to be productive and do our jobs well, and to be present for our loved ones.”

More than a third of American adults do not get the recommended minimum of seven hours of sleep a night as it is, according to the U.S. Centers for Disease Control and Prevention (CDC). Prioritizing sleep means having goodsleep hygiene, including waking up around the same time each day, limiting screens before bed, not consuming alcohol or caffeine in the evenings, and having a wind-down routine. 

“If getting up at 5 a.m. every morning creates a barrier to you getting enough restful sleep, don’t do it,” says Benders-Hadi. 

You can “slow down” your morning without getting up super early 

Waking up early helps diminish that uncomfortable feeling of being rushed. But Benders-Hadi says there are alternative, more incremental steps that can instill that sense of slowness without sacrificing sleep. 

One way is through choice reduction, or limiting the number of things that you need to decide on the morning of a busy day when your stress levels tend to peak. 

“Think about reorganizing your morning routine so you have less to do, for example. Lay out the clothes you plan to wear the night before,” Benders-Hadi says. “Prep your breakfast and lunch meals to-go ahead of time, and do the same thing for any family members you may be caring for.

 Snowden says you can spend 10 extra minutes slowing down (even walking a bit slower to the shower in the morning), not checking emails right away, and practicing a kindness message. A few examples: “May my day be filled with ease, may I see possibility today, may I enter my first meeting with an optimistic attitude,” she says. 

“You’re checking in with your body sensations, your mood that morning, and you’re observing it with nonjudgment, with openness,” she says. “That sets the tone, that sets the rhythm, the speed, [and] the pace of your morning.” 

Know your strengths and weaknesses

Benders-Hadi recommends we all be honest about whether a few more hours in the morning will improve our well-being. For those who work better without distractions, in a quieter environment, or who need a longer self-care routine to feel productive during the day, getting up early can help. 

“You should also take into consideration whether the change in routine will lead to improved productivity, or whether they will just be stuffing more into their day,” she says. “Regarding work, for example, do you have a set amount of work you need to accomplish each day, where starting earlier enables you to finish earlier, or will getting up earlier simply add more to your plate?”

Don’t expect to adjust right away 

Especially for the night owls, choosing to get up earlier won’t feel comfortable immediately. The body’s circadian rhythm, or natural body clock, needs time to adjust to the new routine, Snowden says. 

 Instead, compliment yourself for wanting to engage in something that feels motivating and be patient, she says. 

Have an intention 

On days when rolling out of bed feels downright impossible, it’s important to return to your intention to get up, whether that’s to improve your daily productivity or enjoy extra time to read or work out. Talking to other early morning risers can help you understand what motivates them. Wanting to follow a trend, especially on the hard days, won’t be enough. 

“You’re going to kind of need to connect back to your motivation,” Snowden says. “What is driving this for you? And what do you imagine to be the benefits that you’re really personally going to enjoy and get from this?”