Hello! If you've heard anything about the Denver airport, it's probably some crazy conspiracy theory about aliens or secret societies living there. Behind the Scenes Tour It has put some wild theories to rest.
In today's big news, Amazon is trying to stop employees from avoiding their office-work requirements. Track time spent in the office.
What's on deck:
But first, did you swipe?
If this is forwarded to you, Sign up here.
The big story
punch a time card
Coffee is available on Amazon Closer People who spend at least two hours in the office.
The tech giant has launched a new strategy to track individuals' time spent in the office amid its ongoing battle to get employees to come into the office.
Business Insider's Eugene Kim reports Amazon monitors how much time employees spend in the officeThat sounds frustrating – one Amazon employee likened it to being treated like a high school student – and it's not without reason.
Amazon said,Coffee Badge” or swiping a card to enter the office just to meet attendance requirements without actually doing any work. Currently, most Amazon employees are required to come into the office at least three times a week.
Amazon and its employees have been in an ongoing battle over the return-to-the-office mandate that was first announced early last year. Internal Petition, Blocked Promotionsand Forced relocation Both sides are stubbornly resisting.
From Amazon's perspective, the business works better with employees in the office, and a spokesperson told Eugene that returning to the office means “more energy, connection and collaboration.”
For Amazon employees, RTO obligations are shrouded in mystery and confusion, and some feel the number of days in the office isn't a metric they're evaluated on.
Either way, don't expect this spat to end anytime soon: At least one Amazon employee thinks he's come up with a workaround, which involves swiping his card at a local Whole Foods, an Amazon subsidiary.
The RTO battle in corporate America isn’t just about Amazon’s RTO.
Computer giant Dell is at odds with employees over strict RTO obligations. Exclude fully remote workers from promotions.
Employees expressed anger in Dell's annual employee engagement survey, a key indicator of how likely employees are to recommend Dell as a great place to work A double-digit decrease from last yearBI's Polly Thompson wrote:
However, all employees who oppose the mandatory RTO can do is get angry. White-collar job market It's a brutal situation these days. Find a fully remote job.
That's why employees who continue to work from home may be trying to push the boundaries of what's possible.
For some, it is Take a quiet vacation During work hours. For others, Outsource the entire job To replace the shadow.
Three things in the market
- A Goldman partner explains how he rose to the top. Elizabeth Reed, a partner at Goldman Sachs who leads a team that helps companies price IPOs, recalled during a Q&A: He began his 17-year career working at a bank as an intern..
- Let's take a look at JD Vance's investment portfolio. Former President Donald Trump's running mate is a Bitcoin supporter and owns stakes in over 120 private companies, including Walmart, gold and government bonds. It's part of his largest publicly traded investment..
- Small caps, big returns. Tom Lee of Fundstrat said: Small-cap stocks could rise as Federal Reserve considers easing interest ratesHe said the Russell 2000 index, which tracks small-cap stocks, could rise 40% as the S&P 500 starts to slow.
Three things about technology
- A prominent Utah venture capital firm is under fire for routinely making its female employees feel uncomfortable. Six women spoke to BI. They received unwanted contact from Greg Warnock.Warnock stepped down as CEO of the Mountain State tech giant while continuing to work at the venture capital firm he co-founded. He told employees in June that he would no longer be involved in day-to-day management of the company.
- Netflix and Amazon enter a new phase in the streaming wars. Streamers are competing for brand partnerships with advertisers that include everything from product placements to co-marketing campaigns. Brands are eager to be featured in streaming content, but Not everyone is happy About how Netflix and Amazon have lured them in.
- Musk is abandoning California and moving two more of his operations to Texas. Elon Musk is officially SpaceX and X move their headquarters to TexasHe moved Tesla to California in 2021, saying California law “attacks both families and businesses.”
Three things in business
- In case of divorce, who will take over the business? By Steven Pasterino and Rachel Katzman A personal breakup sparked a legal battleBut despite a tumultuous time involving a billionaire stepfather, a 911 call and a defamation lawsuit, the company, which now calls Jennifer Aniston an adviser and owner, is soaring to new heights.
- Your friendly neighborhood homeowner is about to get a lot meaner. Independent landlords are often contrasted with the big private equity firms that gobble up property, but these smaller, independent landlords are increasingly mimicking the strategies of larger companies to boost rents and profits. An ominous sign for renters.
- The best AI rollout will receive a pig roast prize. Private equity firm THL uses friendly competition and prizes to Incentivizing Portfolio Companies The company implemented generative AI, which has helped increase the productivity of its engineers by up to 30%.
In other news
Today's happenings
- The Fed's Beige Book is released.
- The mayor of Paris will swim in the Seine, where Olympic swimmers will compete. Paris has spent more than $1 billion to clean up the river, Rainfall continues to pollute.
- United Airlines, Johnson & Johnson, Other companies I am reporting it.
From the Insider Today team: Dan DeFrancesco, deputy editor and anchor, New York; Jordan Parker Erb, editor, New York; Hallam Bullock, senior editor, London; Annie Smith, associate producer, London; Amanda Yen, fellow, New York.
