Insider Finance - Business - Workers are 'grumpy staying’

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June 28, 2023

Hello, Insiders. Hallam Bullock, an editor on our audience team, here. First, there was quiet quitting. Now, companies are taking back some of the power workers accrued during the Great Resignation. Dissatisfied employees are getting louder — but many don’t have the leverage to quit. Welcome to the era of grumpy staying. That’s today’s big story.

We’re also covering:

Don't believe Russia about Ukraine's counteroffensive being a failure.
Why the only winners on Wall Street seem to be the interns.
A longevity researcher shared his morning routine.

— Hallam Bullock

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THE BIG STORY

‘Grumpy staying’

skynesher/Getty Images

Workers are staying in their jobs, but some aren't happy about it. As Insider’s Juliana Kaplan reports, over the last two years, those dissatisfied workers might have left or quiet quit.

But as the job market cools and more companies issue return-to-office mandates, we’ve entered a new era: "grumpy staying," in which workers begrudgingly skate by. They may not feel much loyalty or trust in their firms — but they're not leaving.

Take Microsoft. An internal poll obtained by Insider's Ashley Stewart found that less than half — 47% — of surveyed employees would stay with the firm if they got a comparable offer, down from 70% in November.
Another poll at Salesforce, also obtained by Stewart, found that just 34% of respondents said the firm did a good job of retention.
Gallup surveyed 122,416 workers across the world and found that 59% of employees are quiet quitting, and 18% are "loud quitting." Those workers are actively disengaged — but that doesn't mean that they are actually, you know, quitting.

THE LATEST NEWS

China, Credit Suisse, & baby boomers

China's local governments inflated revenue by $12 billion through fake property sales, the nation's audit office reported.
Tens of thousands of Credit Suisse staffers are about to find out if they still have a job. Per Bloomberg, more than half of the global workforce will be cut beginning in July.
Baby boomers will save the US economy by spending down their $75 trillion nest egg, the market veteran Ed Yardeni says.

TOP READS

AI scams, longevity, & more

Tyler Le/Insider

AI phone scams are on the rise. Impersonating someone to steal money is nothing new. But now, with just a small fee, a few minutes, and an internet connection, bad actors can weaponize AI to clone a person’s voice and scam people out of money. And as AI goes mainstream, these scams will only get more sophisticated.
Russia is trying to convince the world that Ukraine's counteroffensive is failing. But military experts told Insider that it's much too early to draw any conclusions about the fight. "It's just getting underway," one former general said. "Most of Ukraine's army isn't even in the fight yet."
Wall Street interns are making bank. Many senior people on the Street are worrying about their futures. But interns are doing just fine: The median wage for interns at Citadel and Citadel Securities is reportedly $120 an hour, and some interns are making nearly $20,000 per month.
New court filings show how Jeffrey Epstein exerted power in the US Virgin Islands. The records show that, at least in the US Virgin Islands, he wielded influence with little friction — and helped get local politicians elected, including the now-congresswoman Stacey Plaskett.
A longevity researcher revealed his morning routine. David Sinclair says he cut his “biological age” by 10 years. The 53-year-old does oil pulling (rinsing his mouth with coconut oil), uses “nontoxic” toothpaste, takes supplements, and more.
Digital nomad regrets leaving troubled San Francisco for Croatia. Gigi Chow thought the grass was greener in Dubrovnik. The city is affordable and relaxing. But she experienced a few unexpected downsides, including a lack of amenities.
Pickleball is on track to create $500 million in medical costs this year. The fastest-growing sport in the US is also quickly growing healthcare costs. A new study found that from 2010 to 2019, pickleball caused nearly 34,000 emergency room visits.

TAKE A LOOK

Barbie’s Dreamhouse

The exterior of the hot pink Barbie house in Malibu

Hogwash Studios

Take a look inside Barbie's Malibu Dreamhouse — it's kitschy, it's hot pink, and it's available on Airbnb.

WATCH THIS

Titan submersible

A submersible expert heard a large "cracking" sound during a 2019 dive on the Titan. Experts had warned against the dangers of the Titan before the submersible imploded.

CAN'T GET ENOUGH?

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This edition was curated by Hallam Bullock, and edited by Lisa Ryan, Diamond Naga Siu, and J.R. Stacey. Get in touch: insidertoday@insider.com.

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Insider Finance - Business - Workers are 'grumpy staying’

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