Bloomberg Intelligence JP Morgan Staffing, Bridgewater Cuts
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Jan 7, 2025 Mike Sommers, President and CEO of the American Petroleum Institute, sheds light on the pivotal role of energy policy in shaping the U.S. economy. He discusses the expected energy action from a new Trump administration, emphasizing the balance needed between green energy and fossil fuels. Sommers also addresses the industry's future amidst regulatory changes, infrastructure challenges, and rising demand, highlighting the need for policy advocacy to support robust energy production.
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Return to Office Trend
- J.P. Morgan is mandating a five-day office return, likely influencing other firms.
- Increased flexibility may emerge, with managers and employees more open to work-from-home requests.
Bridgewater's Strategic Cuts
- Bridgewater, a leading hedge fund, is cutting 7% of its staff to maintain agility.
- This move follows a successful year, suggesting a shift in strategy under new leadership.
Bridgewater's Unique Situation
- Bridgewater's staff cuts are unusual given their strong performance.
- The new CEO is making changes, including replacing management and outside hires.