'Ghost' workers haunting tech firms
A new study from Stanford researchers concluded that 14% of software engineers working remotely were “ghost” workers who “do virtually nothing” and cost major tech companies billions in wasted wages. Credit: Getty Images / Michele Pevide
Tech companies that were among the first to initiate remote work policies during the pandemic are now among the most vociferous in ordering employees back to the office. And they may have a good reason. A new study indicates some remote tech workers are hardly working at all.
Stanford researchers concluded that 14% of software engineers working remotely were “ghost” workers who “do virtually nothing.” Researchers said ghost workers cost major tech companies such as IBM, Microsoft and Google billions in wasted wages.
The data could explain why many tech engineers — the ones actually working — feel stressed. Surveys indicate about half of all developers work massive amounts of overtime and say they are burned out.
On the rocks
Facing “liquidity challenges” compounded by an August ransomware attack, Stoli Group USA filed for Chapter 11 bankruptcy protection. The vodka distributor said the cyberattack caused “severe operational disruption” from which it hasn’t recovered. Stoli, which started in Russia in 1938 but now produces its vodka in Latvia, rebranded its Stolichnaya vodka to Stoli in 2022 in response to Russia’s invasion of Ukraine.
Tesla's new Apple Watch app allows users to check their battery charge status, lock and unlock their cars, as well as other functions. Credit: Tesla
Tesla adds Apple Watch app
Tesla is releasing a long-awaited app for the Apple Watch that allows users to lock and unlock their car and view information from their wrist. The electric vehicle maker said the app also displays how much battery charge you have left and can be used to open the front trunk and turn on climate control.
Robinhood eyes wealth market
Robinhood Markets will buy portfolio management platform TradePMR as the online brokerage targets wealthier clients. Robinhood, which has expanded its offerings in the competitive retail investment space by boosting its available cryptocurrencies, rolling out a credit card and even offering traders the option of betting on election outcomes, is now seeking to challenge incumbents such as and Charles Schwab and Fidelity Investments in the fast-growing wealth management space. — BLOOMBERG NEWS
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