Sunday, November 13, 2022

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GLOBALIZATION IS OUTSOURCING

Germany's Scholz visits Vietnam as manufacturers eye shift from China

Francesco Guarascio
Sun, November 13, 2022 


German Chancellor Olaf Scholz visits Vietnam


By Francesco Guarascio

HANOI (Reuters) - German Chancellor Olaf Scholz discussed energy and trade ties with Vietnam's Prime Minister Pham Minh Chinh during a visit to Hanoi on Sunday, the first for a German leader in more than a decade.

Scholz's stop in Vietnam on his way to the G20 leaders' summit in Indonesia, highlights Vietnam's growing role in global supply chains as many German firms consider diversifying their manufacturing operations by expanding their presence beyond China, their main hub in Asia.

At a joint news conference with Chinh, Scholz said Berlin wanted deeper trade relations with Vietnam and would support the country's transition to a greener economy, including through the expansion of the metro system in Hanoi, Vietnam's capital.

The Hanoi visit follows Scholz's trip to China last week, the first by a Western leader in three years since the start of the COVID-19 pandemic. He will next visit Singapore before heading to the G20 summit on Nov 15-16.

Vietnam and Singapore are the only countries in Southeast Asia that have a free trade agreement with the European Union. As a result, they are the EU's biggest trading partners in the region.

Germany is Vietnam's second-largest trading partner among EU states after the Netherlands, with exchanges worth $7.8 billion last year, according to law firm Dezan Shira - far less however than the United States, China, Japan and South Korea.

About 500 German firms operate in Vietnam, of which around 80 have manufacturing plants in the country, according to the German chamber of commerce in Vietnam, AHK.

Among them are engineering giant Bosch, energy firm Messer, and several smaller companies involved in the global automotive supply chain.

Many more are looking to diversify some of their activities away from China where about 5,000 German companies operate, AHK head in Vietnam, Marko Walde, told Reuters.

Over 90% of German firms planning such a move look at Southeast Asia as their preferred choice, Walde said, noting that Vietnam and Thailand were favourites in the region.

(Reporting by Francesco Guarascio; additional reporting by Sarah Marsh in Berlin)

Read the email Twitter contractors were sent on Saturday telling them they'd lost their jobs

Some Twitter contractors received an email on Saturday night notifying them they'd been laid off.Getty Images
  • Contractors working at Twitter lost access to company systems on Saturday night.

  • Shortly after, they got an email notifying them that they were laid off, two sources told Insider. 

  • Twitter contractors were told in the email it was due to a "reprioritization and savings exercise."


Some Twitter contractors realised they'd been laid off when they lost access to their work email and Slack accounts on Saturday night, two sources told Insider.

The news was first reported by Axios.

The laid-off contractors, who spoke on condition of anonymity, told Insider they did not receive the email until after they realized they'd been locked out of their accounts on Saturday night.

The Twitter workers, employed by Surya Systems, received an email notifying them that they lost their jobs about an hour later, the sources said, adding that those affected worked in content moderation and engineering.

The contractors were told that their assignment at Twitter had ended due to a "reprioritization and savings exercise" and that their last day at the company was Monday.  The email notified them that their badge and system access was "shut off immediately."

Twitter and Surya Systems did not reply to a request for comment from Insider made outside normal working hours.

"I don't understand how they didn't learn from their previous week's debacle of laying off full-time employees without telling them," one worker told Insider. "It might not seem like a big deal, but I don't think it's appropriate to treat employees like this (again)."

Elon Musk took control of Twitter late last month and had laid off about half its full-time employees by November 4. Like the contractors, staff members also realized they lost their job when they were locked out of their Slack and email accounts.

Read the full email that Twitter contractors received notifying them that they were laid off:

As you may be aware of, Twitter has conducted a reprioritization and saving exercise in an effort to better focus during this period of resource constraints.

Please allow this communication to serve as notice on behalf of your employer on record that your assignment at Twitter has ended as part of the reprioritization and savings exercise.

In order to maintain Twitter confidential information and for security reasons, your system and badge access will be shut off immediately.

Your last day at Twitter will be Monday, November 14th. You will not be expected to perform any services on November 14th. You will receive your final pay from November 7th through November 14th. Please ensure that any time cards and expenses that are outstanding are submitted into Magnit VMS immediately.

As a reminder, you have signed a Non-Disclosure Agreement; please remember that all intellectual property information associated with your assignment, business practices, or your specific project is strictly confidential during and after your Contract.

If you have any questions, please reach out to your employer Surya Systems, Inc.

Thank you for your service to Twitter,

Magnit Team

Elon Musk is reportedly planning to slash roughly half of Twitter's 7,500 employees this week. But the conflict between Twitter's old guard and the new owner's loyalists is just getting started.NurPhoto/Getty Images
  • Twitter began firing contractors on Saturday, according to reports.

  • Some contractors told Axios they found out after being locked out of work accounts.

  • Contractors also shared fears that they would not be able to receive their final paychecks.

Twitter has began to lay off its contract workforce, with some contractors finding out through a loss of access to work accounts, according to reports.

Starting on Nov. 4, Twitter — under the new ownership of Tesla CEO Elon Musk — slashed its full-time employee workforce by nearly 50%.

Now, contractors appear to be the next target, with contractors telling Axios they were locked out of work accounts on Saturday. Similarly, many of Twitter's full-time employees also found out that they were being let go when they lost access to work platforms like Slack and email.

Some of these contractors work in content moderation, which had already been hit with layoffs, sources told Axios.

According to journalist Casey Newton, other departments, such as real estate and marketing, were also affected by contractor layoffs.

 

Some contractors told Axios they were worried about whether or not they would be able to receive their final paycheck, as many ended up on teams with no full-time employees following the layoffs.

Melissa Ingle, a content moderation contractor, told Axios that she was worried about how the layoffs would affect her and her family financially.

"This is no way to treat people," Ingle told Axios.

 

Following Musk's acquisition of Twitter, the company staff has been thrown into weeks of chaos.

Some laid-off Twitter staff were asked to come back after the company realized that they were essential to operations. Other Twitter staff filed a lawsuit, saying they were not given enough advance notice before their firings.

Now, employees are being asked by Musk to return to the office 40 hours a week or resign.

One current Twitter employee described the current environment as "ruthless" in an as-told-to essay by Insider's Jyoti Mann.

Twitter and representatives for Musk did not immediately respond to Insider's request for comment.


A Twitter manager says laid-off engineers he's rehired are 'weak, lazy, unmotivated'

Twitter headquarters in San Francisco.Tayfun Coskun/Getty Images
  • A Twitter manager described laid-off engineers he rehired as "weak, lazy, unmotivated."

  • A screenshot of what appeared to be Slack messages has circulated on the Blind app.

  • A source confirmed the manager worked for Twitter and said his comments sparked much internal debate.

A Twitter manager who rehired engineers after they lost their jobs in the recent mass layoffs appeared to criticize them on the company's internal messaging system.

A screenshot of the comments made by the senior director of engineering were posted by another Twitter worker on the anonymous forum Blind. They read: "This is going to be the challenge. The engineers I am bringing back are weak, lazy, unmotivated, and they may even be against an Elon Twitter."

"They were cut for a reason, so we need to think of these people as just needing to be around until the knowledge transition is completed," the manager continued.

A source at Twitter who spoke on condition on anonymity confirmed the manager's identity to Insider. The individual's LinkedIn profile showed that they had worked for Twitter since 2013.

The manager has been contacted for comment by Insider.

The comments have sparked much internal debate on Slack, according to Insider's source.

A screenshot of the messages also circulated online, which was also shared by data journalist Joshua Byrd.

The managing editor of the tech-and-democracy focused newsletter Platformer, Zoë Schiffer, tweeted that she had confirmed the manager did work at Twitter but later deleted her tweet saying: "I don't think naming someone at his level is necessary (not because the screenshot isn't real)."

Insider also surveyed Blind, a forum where employees can hold anonymous conversations, and found a post asking users whether they thought Elon Musk would take action following the manager's comments.

Of 157 responses, 60 thought Musk would promote the manager, 56 thought he would do nothing and 41 said he would fire the individual.

Musk fired half Twitter's workforce after taking control, but a few days later some employees were already been asked to come back.

If you paid for Twitter verification, there is a mean meme to mock you — and they're kind of hilarious

Jordan Hart
Sun, November 13, 2022 

The memes quickly began to flow as users realized there was a way to know if someone paid for their verification.
Courtesy of dumbai

Twitter users can now purchase a blue verification checkmark as part of the $8 Twitter Blue subscription.

Although the checkmark looks the same, it comes with a disclaimer to differentiate between notable users and those who paid for their badge.

The change sparked widespread memes as users mocked those willing to pay for verification.

Twitter verification — characterized by a blue check badge — is now available to all users, but those paying $8 for their checkmark are getting the meme treatment from fellow tweeters.

Elon Musk's short time at the helm of Twitter has brought up-to-the-minute changes to the app, and his attempt to make verification accessible to all doesn't seem to be going over well.

The $8 Twitter Blue subscription means anyone can pay to be verified, but their blue check comes with a disclaimer. The message reads, "This account is verified because it's subscribed to Twitter Blue." Those who are verified for notability however, have a message attached to their checkmark that reads, "This account is verified because it's notable in government, news, entertainment, or another designated category."

Cue the memes. The jokes are flowing as users call out anyone who would pay just to be verified on the social media platform.


Early Thursday morning, musical artist Doja Cat decided to join the critics of anyone paying for verification. In a clip, the 26-year-old singer mocked users saying, "You guys are paying $8 a month to come on here and go to war with people who are not in agreement with who your favorite pop star is?"


The jokesters even compared the $8 blue check to wearing fake diamonds in memes featuring a diamond tester being held up to a verification badge.


In a Wednesday tweet, Musk acknowledged that the new additions to Twitter are in a trial-and-error period.

"Please note that Twitter will do lots of dumb things in coming months. We will keep what works & change what doesn't," Musk wrote.

He hosted a Twitter Space Q&A for advertisers the same day and compared tweets from non-verified accounts to emails in a "probable spam" folder going forward.

As the memes continue to swirl around those paying for a Twitter Blue subscriptions, creators are defending their choice to cash in on the blue checkmark offer. Many said they purchased the subscription out of fear their content will be buried on Twitter's feed without it.


Memes aren't the only negative side effect of Musk's new Twitter features. Trolls have taken advantage of the paid-for verification by impersonating celebrities and politicians, then sending out crude jokes, Insider's Pete Syme reports.

In Wednesday's Twitter Space, Musk admitted offering the blue checkmark for $8 might be "a dumb decision, but we'll see."

HYBIRD WORK IN CANADA







Hybrid work is gaining in popularity in Canada, data from Statistics Canada released Friday shows. One in 10, or 1.7 million workers, split their time between the office and home in October, according to the latest Statistics Canada labour force survey. That’s a rise of 5.4 percentage points since January 2020, and a gain of 0.4 percentage points since September.

Almost ever industry saw a greater share of workers splitting their time between the office and alternate locations from January to October. But knowledge workers made the biggest gains, with the finance, insurance, real estate, rental and leasing sectors growing the most. Meanwhile, exclusively working from home has declined as more people flock back to offices, Statistics Canada said.

___________________________________________________
Posthaste: 'Here comes the pain': Recession on tap for North America, BMO says

Victoria Wells
Wed, November 9, 2022 


Both Canada and the United States are at risk of falling into a recession next year as central banks push interest rates higher to tackle stubborn inflation, according to the latest outlook from BMO Capital Markets.

“We believe the odds of a North American recession are greater than even,” said Sal Guatieri, senior economist at BMO Capital Markets, in a note titled “Here comes the pain again.”

Economists at the bank expect Canadian gross domestic product to fall more than three percentage points next year amid deteriorating financial conditions brought on by a crumbling housing market, a weak stock market and more interest rate increases. Lower prices of oil and gas and other commodities will also take a toll on Canada’s growth. In the U.S., GDP is expected to fall by two percentage points next year. The contraction in both countries will be centred in the first half of the year, in what Guatieri called a “shallow recession.”

Falling home prices are one factor at play in the coming downturn, and have already sheared off growth in both countries. But the damage isn’t over yet. BMO expects prices to slide a total of 20 per cent in Canada and 15 per cent in the U.S. before the market stabilizes, adding further pressure to the economy.

Meanwhile, interest rate hikes will continue to cause pain. BMO thinks the Bank of Canada will keep raising rates more than originally anticipated, bringing them up another 75 basis points before pausing at 4.5 per cent for the benchmark. The U.S. Federal Reserve will follow a similar path, with rates peaking between 4.75 and five per cent.

At the same time, flush household savings accounts, which helped fuel growth after pandemic lockdowns, are unlikely to save the day this go around. Many people are likely scraping the bottom of the barrel at this point, after deploying their savings to pay for the rising cost of living and higher debt costs. “No cavalry is around the corner to rescue the economy or markets,” Guatieri said.

But just how far the economy slides depends on how fast inflation falls back to its two per cent target. So far the rate has proved stubborn, and economists aren’t sure it will cool very quickly, meaning inflation might still come in at three per cent on a year-over-year basis even into the latter months of 2023.

To add to the pain, a low Canadian dollar could further fuel price increases. BMO expects the loonie to sink even more, hitting 72.5 cents U.S. by the end of 2023. There are other geopolitical risks to watch out for, too, including the continued conflict in Ukraine and strained ties between the U.S. and China, BMO said. Added together, it signals North America is walking straight into a downturn.

The forecast won’t come as news to most Canadians, who are feeling gloomy about the economy’s prospects. More than half, or 55 per cent, think the country is in a recession already, and another 68 per cent believe we’ll enter one in 2023, according to one survey released this morning from IG Wealth Management. Other consumer polls back up the pessimistic view. Maru Public Opinion’s Canadian household outlook index fell to 87 in October from 93 in September, a six-point drop. John Wright, Maru’s executive vice-president, called it “the bleakest and most biting outlook” he’s ever seen.

Still, there is good news for those bracing for tough economic times. Guatieri said BMO isn’t expecting the coming recession to be a lasting one, and said relief will come fairly quickly.

“The downturn is likely to be moderate and short-lived,” he said.

FIRST IT WAS POST PANDEMIC RETURNS
Animal shelters say they're 'beyond capacity' as more people give up their pets due to soaring inflation
SUPPORT YOUR LOCAL SHELTER

Stephanie Stacey
Sun, November 13, 2022 

Grizz and Stetson are both residents of the Casper Humane Society.

Rising inflation means people are having to give up pets they can't afford, animal shelters say.


Animal shelters are facing higher costs and fewer donations — as well as more mouths to feed.

Facing a looming recession, they might have to turn away animals that "depend on us for survival."

Many animal shelters across the US are "filled to capacity or beyond" according to Best Friends Animal Society.

Amid surging inflation and rising economic anxiety, more pets are being given up and adoptions are "lagging way behind," it said.

The Casper Humane Society in Wyoming told Insider it felt forced to close the list of animals waiting for a place after it became "too overwhelming."

The shelter, which takes in both pets and stray animals, generally looks after around 100 animals at any given time — including about 60 cats and 40 dogs as well as other "assorted small critters" like rodents and reptiles.

Craig Cummings, director of the Casper Humane Society, said his team has noticed a bump in the number of pets being abandoned. He said it has been forced to operate above capacity all year, and there are over 100 dogs and at least 200 of cats waiting for a safe home.

"We receive calls on a daily basis from owners that can no longer afford to keep their animals, and people who are being displaced from their housing," he said.

Surging prices and widespread housing insecurity are putting pet owners in a tricky situation.

According to estimates from the ASPCA, it costs $1,391 annually to own a dog, and $1,149 to own a cat — and soaring inflation has made pet care even pricier.


Shelters, facing their own surging costs, are struggling to pick up the pieces.

Cummings spoke to Insider in early November when it was 26 degrees Fahrenheit (–3 degrees Celsius) outside and snowing in its base in Wyoming.

Cummings said: "The animals currently in our shelter are fortunate. They have a safe and warm place to stay — and they have people that care about spending time with them even when the weather's not the best."

He worries about what will happen to pets when shelters are full: "Owners feel helpless when all the shelters are full and there are no resources for them. They often resort to rehoming on social media, which can be dangerous, or abandoning their animals with hopes that they will survive and find a new family."

"Now that winter has arrived in Wyoming, the chances of pets surviving outside alone is minimal."

Shelters' struggles aren't just about space. Soaring prices are stretching their limited funds.

The Cat House on the Kings, a no-kill shelter in Parlier, California, is currently grappling with both declining donations and declining adoptions.


The kitten adoption room at the Cat House on the Kings.The Cat House on the Kings

Tammy Barker, the shelter's assistant director, told Insider: "When the economy is struggling and people are unsure of their financial stability, they don't donate to nonprofits like The Cat House on the Kings."

The shelter has rescued 1260 cats and kittens so far this year, but it's worried about the future. Barker said: "We're not sure how long we can continue if donations don't pick up."

In the face of a likely recession in 2023, the outlook is bleak. "We will have to turn away animals that depend on us for survival," said Barker.

Pet owners who are struggling financially could check if nearby offer support to help them keep their pets at home.

Julie Castle, chief executive officer of Best Friends Animal Society, said some shelters have started to provide "pet food pantries" to give out food.

"The pandemic kickstarted a wave of these donation-based pantries, finding a silver lining in an otherwise tumultuous time," she said. "Sometimes a bag of pet food makes all the difference between keeping a dog or cat in its home, or someone having to make the agonizing decision to surrender their pet to a shelter."

Demand for chief medical officer roles skyrocketed during pandemic

Anjalee Khemlani
·Senior Reporter
Sun, November 13, 2022

Chief medical officers became a hot, new career choice for those with medical training, as employers and federal and local governments, sought an in-house expert as the pandemic swept the country in 2020 and 2021.

"The pandemic unleashed a surge of demand for top management talent to fill Chief Medical Officer roles," according to ZipRecruiter chief economist Julia Pollack.

To date, more than 2,900 jobs were posted in 2022, Pollack added.

By comparison, there were only 767 jobs posted pre-pandemic in 2019, and a record 5,000 posted last year.

The demand was seen across industries. Healthcare companies saw the need to create or fill the position to help with product and service development, while non-health companies required a clinician for operational and employee health management needs.

For some, it was a pivot from a position they already held. For others, it was a career shift altogether.

“The reality is, I am the inaugural chief medical officer of this organization. And I am not alone in that fate,” said Antonio Tataranni, chief officer of health and wellness at Pepsi Co (PEP). “There have been moments where the weight of the responsibility has been large,” he added.

The sudden surge in responsibility for CMOs forged an unofficial roundtable inside corporate America, led by Tataranni.


Live camera footage of a patient hospitalised with COVID-19 is shown from a computer monitor during a daily meeting lead by Dr. Joseph Varon (not pictured), the chief medical officer at United Memorial Medical Center (UMMC) (REUTERS/Callaghan O'Hare)

Known informally as the U.S. Roundtable of Chief Medical Officers — which could change as the group hopes to go global —the new crop of C-suite doctors banded together and continue sharing their expertise and information based on the latest data and projections.

There are currently about 20 chief medical officers who are part of this group, from industries like airlines, technology, consumer goods, academia, pharmaceutical, and retail. Since it isn't an official group, the companies declined to be named.

Breakneck speed

One of the biggest responsibilities these medical experts had included fighting misinformation and disinformation, as well as advising executives on operational decisions.

Delta’s (DAL) chief health and well-being officer, Dr. Henry Ting said he never thought he’d ever be working for a company, much less an airline. But he was still able to maneuver the new role.

“This was sort of an existential threat to Delta airlines, in terms of duration and severity," Ting said. "Our revenue and passenger rides dropping 95% in 30 days, almost the opposite of what Lysol (RBGLY) and Purell saw."

So Ting formed a strategic relationship with all of Delta’s executives and began the process of trying to look four weeks ahead and decide how the company should operate at all levels. That led to decisions like blocking the middle seat on flights, to changed HEPA filters or setting up testing and vaccine sites for employees.

Deloitte's Ken Abrams executed a different strategy, but one that was equally inclusive. Abrams found himself needing to "educate a group of people who never ever in their lives imagined that they were going to need a science-based education."

Sanathan Aiyadurai, 27, and Diego Montelongo, 27, who are medical students, review a COVID-19 patient's status during a daily meeting lead by Dr. Joseph Varon, 58, the chief medical officer at United Memorial Medical Center (UMMC) REUTERS/Callaghan O'Hare

The team built a mini medical school program to help educate executive leadership about immunology, physiology, virology, and epidemiology.

Information and vaccine access

Pepsi, like other large multinational corporations, had one key advantage in gaining knowledge about the virus — it operates in hundreds of countries. So when waves of Covid hit different parts of the world, Pepsi had eyes on the ground to understand the situation, and how to respond accordingly.

“It was very clear that information was developing at a breakneck speed, and differently in different parts of the world,” Pepsi's Tataranni said.

“In the very beginning, our Chinese colleagues were really the coaches that were telling us (what would) happen," he said.

Over time, the local teams were allowed to decide how to handle the situation on the ground during surges. Sometimes, the role went beyond keeping abreast of the latest information. In some cases, Pepsi found itself at the center of the vaccine acquisition battles globally.

“At some point, some of the more money-strapped governments started reaching out to a private corporation, especially at the time of deployment of vaccines. So we had to navigate a little bit of the vaccine diplomacy,” Tataranni said.

All of these were beyond the normal experiences for a former endocrinologist who was hired to head Pepsi’s research and development.

But the workload didn’t end there. Tataranni also found himself in the interviewer’s chair, launching a Q&A series with experts that was broadcast internally and available for all employees internationally.

Chief clinical officer John Corman MD at Virginia Mason administers a dose of the Pfizer Covid-19 vaccine at the Amazon Meeting Center in downtown Seattle, Washington on January 24, 2021. 
(Photo by Grant HINDSLEY / AFP) 

Ting also had a range of sources. He relied on his peer network developed over years at large clinical systems as he maneuvered being able to balance the business and operations with the science. That included contacts at the CDC, Emory, Stanford, Mass General, and Mayo Clinic.

“Sometimes the science is not always so clear, or black and white. In fact, usually, it isn’t. Particularly in something like Covid, where everything was a curveball, and you never knew what was around the corner,” he said.

That’s where Ting sees the future of the CMO role in companies. Where once, doctors that held the role were more occupational health advisers, they are now advising the entire C-suite on operations. And that, Ting said, has elevated the role to a point where it is likely to remain.

Long term impact

Salesforce (CRM) chief medical officer Geeta Nayyar said the trust and relationships built during the pandemic will lend themselves to more impactful efforts of keeping employees healthy.

"Companies want to do exactly what we're doing which is make their employees smart about health care, and it's expensive. Health care is a huge cost on the balance sheet," Nayyar said.

Kroger's (KR) chief medical officer, Marc Watkins, who has been in the role since 2018, sees only growth in the near future.

"I don't think employers today are going to move away from chief physician executive or chief medical officer roles if they can add them at this point. Just because of the uncertainty moving out of the pandemic," Watkins said.

"Given what you're seeing in the market with them hiring or non-traditional organization bring on physician leadership, I feel like we see that continue. It won't be business as usual," he added.