Fed delivers 4th jumbo rate hike; Companies that are making cuts; Top issue for voters this year; Zoomtopia

Welcome to?"Ryan is Curious" Headlines,?your biweekly roundup of conversations that piqued my interest across all topics and industries.?Don't forget to?subscribe?and?click the bell?icon?on my profile?to ensure you don't miss anything! And big thanks to you all for making my newsletter as one to explore!

So let's jump right into it this edition:

----------------------

Fed delivers 4th jumbo rate hike

"We will stay the course until the job is done." - Federal Reserve Chair Jerome Powell

What comes to mind when you hear that quote?

????Love to hear your thoughts in the comments below!

I was on?CNN?Newsroom Live discussing the latest interest rate hike, statements from Fed Chair Jerome Powell, the global economy, and other topics. Here are some highlights:

• The Fed increased interest rates by .75 percentage points - the 4th consecutive increase
• New target for the benchmark federal funds rate to range 3.75% to 4% (highest level since 2008)

"The historical record cautions strongly against prematurely loosening policy. We will stay the course, until the job is done."

• "Despite the slowdown in growth, the labor market remains extremely tight, with the unemployment rate at a 50-year low, job vacancies still very high, and wage growth elevated"
• When talking about the recent labor market data: "I don’t see the case for real softening just yet.”

So what is next...pay attention to the November CPI report (another data point); we will almost certainly see a 50 basis point hike in December and another 25 basis point hike in January next year... That, I believe, is the best-case scenario...

Full Post ----> Here

----------------------

Companies making cuts

Below was a great round-up done by LinkedIn News on November Layoffs:

• Tech giant Meta, Facebook's parent company, is laying off more than 11,000 employees, or 13% of its 87,000-strong workforce.
• Vaping company Juul is laying off a third of its workforce, about 400 people, after securing financing to avoid bankruptcy, the Wall Street Journal reports.
• Barclay's and Citigroup both cut staff: Barclay's laid off about 200 employees in its banking and trading units, and Citigroup laid off about 50 traders.
• LinkedIn members are sharing about layoffs at: C.H. Robinson, a Minnesota-based logistics platform that is cutting up to 1,200 workers; AvantStay, a Los Angeles-based home rental platform that is letting go 144 employees, and Seattle real-estate startup Flyhomes. Both AvantStay and Flyhomes also had a round of layoffs in July.
• Real-estate platform Redfin laid off 13% of its workforce – 862 people, according to CNN – and shut down its home-flipping unit. It's the second round of layoffs for the company since June.
• Software giant Salesforce laid off hundreds of employees, according to CNBC, and might lay off up to 2,500, Protocol reports.
• Google Cloud partner Sada laid off 11% of its workforce, a move announced by CEO Tony Safoian in a LinkedIn post.
• Barclays and Citigroup join other investment banks in trimming staff, laying off 200 and "dozens" of employees, respectively.
• San Francisco-based Zendesk, a customer-support software platform, has laid off about 350 employees, or 5% of its workforce.
• Twitter laid off roughly 50% of its 7,500 employees, the company's head of safety and integrity confirmed. CEO Elon Musk said they were offered three months of pay as severance.
• Warner Bros. Pictures, the movie-making arm of Discovery, is cutting an undisclosed amount of employees, according to Bloomberg.
• Affirm, a San Francisco-based "buy now pay later" platform, laid off an unspecified number of employees, according to posts by LinkedIn members.
• Lyft is cutting its workforce for the second time this year, reports the Wall Street Journal, laying off 13% of its employees, approximately 500 people.
• Digital bank Chime is laying off about 160 people, or 12% of its staff, according to TechCrunch.
• Digital payments giant Stripe is cutting 14% of its workforce, CEO Patrick Collison wrote in a staff memo. The layoffs affect more than 1,000 employees, according to Bloomberg.
• Hootsuite, a Canada-based social media management platform, cut 5% of its staff, its second round of layoffs since August.
• Real-estate platform Opendoor is laying off about 550 employees, 18% of its workforce, a move announced by CEO Eric Wu in a blog post.
• Database management giant Oracle laid off as many as 200 employees in its Oracle Cloud Infrastructure unit on Nov. 1, a week after "quietly" laying off workers in another cloud division, according to Business Insider.
• San Francisco-based software management platform Gem laid off about 100 employees, or one-third of its workforce, according to affected LinkedIn members.

With that said, if your team has a job opening, please post it in the comments section, and we'll see if we can connect people to it!

----------------------

Top issue for voters this year

What issue is top of mind for you this Election Day?

"The economy has consistently been the top issue for voters this year.?In the October survey, about eight-in-ten registered voters (79%) say the economy is very important when making their decision about who to vote for in the 2022 congressional elections" - Pew Research

I was on?CNN?Newsroom with Erica Hill live on Election Day 2022 Coverage, breaking down the US economy from inflation to consumer sentiment, holiday sales, and the 2023 outlook.

----------------------

Cybersecurity Awareness Month - October

"You don't know what you don't know"

Last month was #Cybersecurity?Awareness Month, I had to do a flashback to as I was fortunate to host "The Leadership Agenda for Cybersecurity," a custom event presented by?The Wall Street Journal?|?IBM?in Atlanta last month at the?Four Seasons Hotels and Resorts.

There is a lot we don't know based on the conversations I had from this event and the new reality of accelerated digitization. It is clear to me that the sharing of the knowledge base from peers to public and private partnerships is one of the things that will help individuals and businesses protect themselves online as technological threats and the loss of confidential data become more commonplace.?

Here are a few of the topics we discussed:

- Ransomware Attacks Codified: The Ransomware Kill Chain, What We’ve Learned, and How to Disrupt Them

- Leading a Successful Incident Response: Bringing Teams Together

- Organizational Cyber Resiliency: The Ransomware Test?

And, of course, have to give a big shout-out to the outstanding speakers who shared their invaluable insights! It was so great meeting you all!

-?Najeeb Uddin?| SVP & CIO,?AARP

-?Kimberly Rometo?| SVP, Chief Innovation and Technology Officer,?Atlanta Hawks?&?State Farm Arena

-?Steve Pugh?| CISO,?ICE

-?John Hendley?| Head of Strategy, @X-Force,?IBM

-?Chris Klingenspor?| SVP of International Security and Security Risk,?Equifax

-?Dimple Ahluwalia?| VP and Global Managing Partner,?IBM?Security?

-?Raakhee Mirchandani?| VP, Community,?Dow Jones

-?John Dwyer?| Head of Research, X-Force,?IBM

Special thanks to the incredible team for putting up a tremendous event, thank you for all the help and for having me! ?Will,?Lorri,?Robin,?Caitlin,?Laura,?Ashley,?Rhona,?Emma,?Jordan,?Sunny,?Nell,?Rachel,?Alysha,?Caitlin, and?Mary-Taylor!

Final thoughts: "The cyber threat landscape has evolved considerably"

??Ask good questions, put good practices into action, and understand the fundamentals... I attempted to simplify what I hoped would be a good starting point for those interested in learning more about cyber...

???What other tips would you give to people who want to learn more about cybersecurity?

Full Post ----> Here

----------------------

----------------------

Cameo at Zoomtopia

Yes, I am in the headline news....made a cameo on stage with HP CEO, Enrique Lores, and Zoom Founder & CEO, Eric Yuan :) - Truly honored!

----------------------

I had the opportunity to visit the?Mo?t Hennessy?headquarters in Paris, France a few weeks ago. Special thanks to?Sophia Sinha (she/her)?and the team for inviting me! I enjoyed hearing about all of your ongoing work on sustainability and DEI.

Definitely an iconic building and taking a break on the terrace to see the Effiel Tower...pretty special.

I look forward to catching up with you all with more time next time!

----------------------

Linkedin Community Shoutouts!

In each newsletter,?I?will?highlight one (or some) of the?comments made by?Linkedin community members?on my posts.?So many great (and fun) comments; so hard to narrow down!

Shoutout to Rhonda, Jim, Lesli, John, Danielle, Rhona, Ashley, Will, Megan, Shamila, and John!

----------------------

What's your take on these headlines or others we should be discussing?

Join in by sharing your own thoughts on these topics in the comments below.

Thanks for reading!?????

----------------------

Ryan Patel?is a global business executive, board member, TV contributor, and host of "The Moment"

Follow him on?Linkedin,?Twitter, and?Instagram.

Check out his?Linkedin Learning Course:?"Cultivate a Global Entrepreneurial Mindset in a Remote Working World"

Subscribe to his biweekly newsletter?-?"Ryan is Curious" Headlines