Amount lays off 18% of staff as fintechs feel economic pinch

The global financial climate is seeing leading fintechs pause or reduce their workforce to safeguard against overspending

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Milken Institute Center For Financial Markets FinTech Director Nicole Valentine joins Yahoo Finance’s Allie Garfinkle at the 2023 Milken Institute Global Conference to discuss the impact of the regional banking crisis on fintech and the outlook for fintech in the U.S. and internationally.

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Why are layoffs not usually good for the bottom line? By Peet Biljon

Peet van Biljon advises clients on strategy, innovation, new product development(NPD), and new business building. Peet focuses on management challenges related to Industry 4.0 and on the impact of transformative technologies such as AI, digitization, fintech and IoT. He previously managed McKinsey’s global innovation practice from 2010 to 2015. He is an adjunct professor at Georgetown University’s McCourt School of Public Policy where he teaches a graduate course on innovation. Peet is currently involved in initiatives to set ethical guidelines for technology and co-chairs the General Principles Committee of the IEEE Global Initiative on Ethics of Autonomous and Intelligent Systems (A/IS). In 2017 he published a book on business ethics, Profit with a Higher Purpose, and subsequently developed Ethics-driven Innovation®, an innovation process to help clients meet the highest ethical standards.

#DESCRIPTION
Peet van Biljon shares his views on why layoffs may not be good for a company’s bottom line. He talks about the different things that companies should consider before taking the drastic step of laying off employees including loss of knowledge and processes and damage to employee morale and productivity.

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How are corporate layoffs affecting the unemployment rate?

The August jobs report revealed a rise in the U.S. unemployment rate, influenced by a series of corporate layoffs. Yahoo Finance’s Brain Cheung gives details on September 2, 2022.
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