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🎉 Project Bora Bora 🌴

🎉 Project Bora Bora 🌴

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Good Afternoon Party People! 🎉

We're here to sprinkle a little FUN into your day—easier than sipping lemonade on a sunny Friday afternoon.

PARTY PLAN 🎉

🌴 Project Bora Bora

📈 4-day workweek is on the rise

📍 Employees weigh in on remote work

And, of course, MEMES!

MEME OF THE DAY

PRESENTED BY

A Message From The Fractional Operating System

Most professionals have a side hustle to make some extra cash.

At least I did...

As a former sales leader, I always had one consulting gig on the side that gave me the extra cushion to save, invest, or take an extra trip.

One day, I realized that if I were to have multiple consulting gigs, I would make a lot more money than working full-time, but most importantly, I would have A LOT more time.

I decided to give this a shot during a global pandemic. In year 1, I matched my corporate income by working half the time. In year 2, I 3x my corporate income working 40 hours a week. From there, it kept going up.

When I started telling people about this on Linkedin, many people asked me how I did it.

From the post below, I got 103 calls and messages from people trying to get the playbook.

LAYOFFS

“Project Bora Bora”

When you hear the phrase “Project Bora Bora” you probably think of some government operation. Maybe a company trip to Bora Bora.

Both would be incorrect.

The real “Project Bora Bora” is a company-wide reorganization involving a 10% workforce reduction at Citigroup.

Aka mass layoffs.

Citigroup CEO, Jane Fraser is in hot water after employees discovered the nickname for the initiative is called “Project Bora Bora”. Employees and outsiders have taken offense to the executive’s casual and joking attitude towards a process that could potentially cost thousands of people their jobs.

The company currently employs almost a quarter of a million people.

Recently, Pfizer also casually conducted layoffs on a Zoom call, which pissed off a bunch of employees.

If you’re planning on laying people off, giving it a codename named after a vacation spot probably isn’t the best way to go about it.

For a full list of recent layoffs, read more here.

WORK

The 4-Day Workweek

The 4-day workweek is on the rise — sorta! While the trend is up and to the right, job posts on Indeed still only account for 0.3% of all job postings. The percentage is small, but it’s triple what it was 4 years ago.

Manufacturing is one of the top sectors offering 4-day workweeks right now, which is likely related to the striking auto workers union’s demand for shorter workweeks. Dental, Veterinary, Surgeons, and Drivers made up the rest of the top 5 sectors.

Looks like tech isn’t getting 4-day workweeks anytime soon…

“A 4-day workweek may be gaining popularity, but it has a long way to go before becoming the norm. Time will tell if this remains a rare benefit offered for some in-person roles in order to stay competitive or becomes an expectation for job seekers and/or a more common demand in union negotiations, but for office workers in particular, a standardized 4-day workweek is a long way off.”

Nick Bunker & Allison Shrivastava, Economists with Indeed Hiring Lab.

Return-to-office has been the growing trend in 2023. And in-person jobs accounted for the majority of the postings on Indeed.

REMOTE WORK

Employees Discuss Remote & Hybrid Work

RTO (return to office) mandates have been the talk of 2023. Companies like Amazon, Google, JPMorgan, and more have issued RTO mandates this year.

According to a recent poll by Eagle Hill, half of all employees in the US would consider looking for a new job if their work flexibility was reduced.

Employees have become accustomed to the remote work lifestyle, and many don’t want to give it up. Plus, some moved out-of-state, and RTO mandates would mean that they would have to move all over again.

Economists are encouraging companies to consult with employees about their work preferences before implementing policies. If a full or partial RTO policy is implemented, it could lead to employees leaving and result in a net loss of overall productivity.

Despite this, employees do value in-person work. Especially for certain tasks and activities, like team building and onboarding. A majority of workers also believe in-person work leads to more success in a job.

Where do you stand?

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