This article is for small business owners seeking advice on how to avoid layoffs, or those who want to execute layoffs properly if necessary. In 2023, an estimated 6 in 10 companies are likely to enact layoffs, affecting 30 percent or more of the workforce. “Waves of layoffs crushed workers in retail, recreation and tourism at the onset of the pandemic. NFIB’s Small Business Optimism Index shows 32 percent of small business owners cite inflation as the single most important problem in operating their business. Making a decisive cut, leaving no room for a second round of layoffs : Don’t procrastinate over the decision or overpromise employees that their jobs will come back.
Technology What EU's type C charger rule means for KenyaA type C charger. EU regulations will see the USB-C cables, popularly known as type C, become the universal charger. Phone maker Apple has raised concerns over EU’s push for a common charger type, saying it might hurt innovation. As the supremacy battle ensues between the type C and the lighting cable, competition from alternative technologies such as micro-USB has become more pronounced. The type C charger is now the in thing because every device being manufactured now is being tailored for the type C charger.3 months ago Business Daily
St Andrews messageNicola Sturgeon: now a democracy movementNicola Sturgeon last night defied accusations of stoking division by claiming that the Supreme Court’s verdict rejecting her right to call another independence referendum “has galvanised the Yes movement right across Scotland”. “Nicola Sturgeon is a division politician, I am a unity politician. Even one independence supporter who was due to attend last night’s dinner questioned whether the message was becoming more desperate than defiant, telling Daily Business: “We could even be seeing the end of the SNP. “I would suggest this should take between one or two generations, or between 30 and 60 years. “Building a new Scotland will initially require fiscal restraint that will be reflected in a decline in public service provision.”2 months ago Daily Business
World Elon Musk begins his Twitter ownership with firings, declares the 'bird is freed'Elon Musk has taken ownership of Twitter. Musk fired Twitter chief executive Parag Agrawal, chief financial officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. Twitter, Musk and the executives did not immediately respond to requests for comment. As news of the deal spread, some Twitter users were quick to flag their willingness to walk away. Read: Elon Musk puts Sh5 trillion Twitter deal ‘on hold’By then, the stock market had plunged on concerns about a potential recession.3 months ago Business Daily
Companies Start-up closures leave trail of job losses in 2022Kune Foods is one of the tech start-ups that closed down in 2022. These closures led to massive job losses, reversing some of the gains the country had made after it rolled back the painful Covid-19 disruptions and containment measures. With investors suddenly wary of high risk frontier economies, funding for some start-ups dried up. Read: Why six Kenyan promising tech start-ups fell in quick successionThat was the fate of food tech venture Kune Foods. The firm attributed the move to a funding drought, blaming developed economies for raising the cost of lending.1 month ago Business Daily
The energy and mining sectors were the biggest gainers on Monday, rising 1.5 and 1.4 per cent, respectively. BHP gained 2.3 per cent to a six-month high of $46.71, Rio Tinto advanced 3.7 per cent to a six-month high of $116.13 and South32 rose 3.6 per cent to a one-month high of $4.34. Lithium producers slid, with Pilbara Minerals dropping 5.1 per cent and Allkem falling 2.0 per cent. Whitehaven was down 2.0 per cent to $9.55, New Hope dropped 1.6 per cent to $5.65 and Yancoal retreated 5.6 per cent to $5.35. ON THE ASX:* The benchmark S&P/ASX200 index on Monday gained 24.1 points, or 0.33 per cent, at 7325.6.1 month ago Business News
Page B5: Airport rail links, highway upgrades and a key freight project in northern Australia led more than $55 billion in infrastructure spending in Tuesday’s federal budget. Page 25: Iconic bootmaker RM Williams enjoyed a $40m turnaround in fortunes in its first year of ownership under billionaire Andrew Forrest, documents reveal. The West AustralianPage 3: Perth motorists have been warned to expect more pain at the bowser with diesel reaching another record-breaking price. Page 4: WA Liberal Party leader David Honey’s approval rating is at a humiliatingly low 9 per cent after more than a year-and-a-half in the job. The Albanese Government’s long-mooted crackdown on tax avoidance is expected to net at least $4.6 billion, a rare boost to its under-pressure financial position.3 months ago Business News
The ASX200 fell 82 points for the week, a loss of 1.2 per cent. That's its second week of red in a row, fifth losing week out of the past six, and seventh negative week out of the past nine. Looking forward, the next mover for the Australian market will likely be the release of third-quarter Consumer Price Index data on Wednesday, Mr Sheriff said. "All eyes on CPI - if we do get an uptick in that core CPI, that's not good for equities or even the Australian market. ON THE ASX:* The benchmark S&P/ASX200 index on Friday dropped 53.9 points to 6676.8, a fall of 0.8 per cent.3 months ago Business News