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Amazon backflips on return to work plan as team leaders take the reign

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Working remotely a dream no more, as e-commerce giant Amazon asks corporate staff to make an effort to return to the office.

Corporate Amazon employees to the office

Amazon is leaving it up to team managers to decide how often their employees come in to work when offices reopen next year.

CEO Andy Jassy said Amazon found it couldn’t have a “one-size-fits-all approach”, with flexible working to stay beyond the pandemic.

‘We’re going to be in a stage of experimenting, learning, and adjusting for a while as we emerge from this pandemic,’ Jassy wrote in a memo addressed to employees.

The decision comes after the e-commerce giant axed it original plan for corporate staff to return to offices for a 3-day week, by January 3 2022.

But their new approach doesn’t come without a few ground rules, with employees expected to attend in-person meetings.

‘At this stage, we want most of our people close enough to their core team that they can easily travel to the office for a meeting within a day’s notice.’

This expectation therefore crushes the dreams of employees who may have wished to work remotely on an international scale.

High-performing staff already employed to fulfil a work-from-home position are exempt from this rule, but will see their workload cut significantly.

This means that those who want to work from a remote location will only be able to do so for up to four weeks a year.

A hybrid approach

While Amazon employees are expected to make an effort to come into the office, Jassy doesn’t anticipate that all staff will return full-time.

He says that team leaders may choose to have their staff working from home on an almost regular basis, while others may follow a hybrid model.

“It depends on what will be most effective for our customers,” Jassy says.

“[Additionally], we will all continue to be evaluated by how we deliver for customers, regardless of where the work is performed.”

Hundreds of thousands of Amazon’s 1.3 million employees will learn about what is expected of them before January 3 next year.

Meanwhile, Amazon will continue to monitor the rapidly changing dynamic of the pandemic to assess what will help the company uphold their unique customer experience.

“With lots of invention and change in front of us, you can bet that we will continue to adjust as we keep learning what makes most sense for our customers and teams.”

Written by Rebecca Borg

Money

US dollar strength hits NZ dollar amid FX market shifts

US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.

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US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.


The US dollar is surging as strong economic growth in the United States contrasts with softer conditions in New Zealand. Policy divergence and complex global FX factors are putting pressure on the New Zealand dollar, leaving traders navigating choppy waters.

Steve Gopalan from SkandaFX breaks down how US interest rates are influencing key currency pairs like USD/JPY, and explains why hedging flows are crucial in today’s volatile environment.

We also explore the ripple effects of geopolitical tensions on oil and broader markets, while examining the Australian labour market’s role in shaping the Reserve Bank of Australia’s monetary policy.

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Oil hits seven-month high, and gold surpasses $5,000 amid US-Iran tensions

Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.

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Oil prices hit seven-month high amid U.S.-Iran tensions; experts analyze impacts on global economy and energy markets.


Oil prices have surged to a seven-month high as escalating tensions between the U.S. and Iran spark fears of global supply disruptions. The Strait of Hormuz remains a flashpoint, with analysts closely monitoring potential military actions that could further strain energy markets.

Investors are reacting to geopolitical uncertainty, with oil markets pricing in heightened risk.

Kyle Rodda from Capital.com joins us to discuss what is driving these record-breaking price movements and the potential implications for the global economy.

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Australia jobs, market trends, and tariff ruling: What investors need to know

Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.

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Australia’s jobs report shapes rate forecasts, with cyclical assets favored amid market volatility and upcoming Supreme Court rulings on tariffs.


Australia’s latest jobs report is shaping market expectations and interest rate forecasts. Strong employment growth could boost confidence in the economy, while weaker data might prompt a rethink of monetary policy.

Investors are favouring cyclical assets over growth stocks, targeting sectors like industrials, materials, and energy. David Scutt from StoneX notes this reflects both caution amid market volatility and a bet on areas tied to economic cycles.

Meanwhile, the upcoming Supreme Court ruling on Trump’s reciprocal tariffs could significantly impact markets, yet many are overlooking its potential effects on trade, commodity prices, and sector valuations. Investors should prepare for possible volatility and adjust strategies accordingly.

#AustraliaJobs #InterestRates #CyclicalAssets #GrowthStocks #MarketInsights #TrumpTariffs #InvestorTrends #TickerNews


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