According to the “Fortune/Deloitte CEO Survey,” which tracks the perspectives and actions of CEOs from some of the world’s largest and most influential companies, the top challenges faced by CEOs have shifted significantly. Geopolitics, the economy, and uncertainty have now taken precedence over talent shortages, marking a notable change since June 2021. The survey, conducted in June 2023, found that 57% of CEOs cited geopolitical instability and inflation as the top external factors expected to influence or disrupt their business strategy within the next 12 months. Despite concerns about a potential recession, 89% of CEOs still expect some degree of growth for their organizations over the next year, showcasing their continued resilience and cautious optimism. Furthermore, the survey reveals that CEOs are actively embracing emerging technologies, with over half of them evaluating or experimenting with Generative AI, recognizing its potential to increase efficiencies and unlock growth opportunities for their businesses.
Deloitte CEO Jason Girzadas shared that most CEOs “are confident they can sustain some level of growth for their organization. Despite a variety of increasingly complex challenges, from geopolitical uncertainty to economic volatility, CEOs are focused on capturing opportunities of emerging technologies while maintaining a cautious approach and managing risk.”
Layoffs: AStra Space
Astra Space, on August 4, disclosed a significant workforce reduction, laying off 25% of its employees, and shifting 50 engineers from the development of their Rocket 4 vehicle to focus on the production of the Astra Spacecraft Engine. The move comes as the company faces dwindling cash reserves and aims to make a strategic reallocation of resources to streamline costs and prioritize satellite propulsion development.
Hiring: Colorado
Colorado Springs is looking to bring in jobs to the region. The Colorado Economic Development Commission has approved financial incentives worth $13.1 million to attract three employers to the Colorado Springs area. These employers include a local aerospace and defense engineering company, a global solar manufacturer, and an information technology startup, which could potentially create over 1,000 jobs, many offering salaries exceeding $100,000. The commission’s support and partnership, along with other recent economic development victories, have contributed to strengthening the local and state economies. While the companies’ identities remain undisclosed, they are expected to be significant players in the region’s job market.
Cleared Employer at Work: Clearancejobs
Opportunity to Watch
Frontgrade Technologies, a prominent provider of high-reliability electronic solutions for space and national security missions, has successfully acquired Aethercomm, a leading designer and manufacturer of high-power radio frequency (RF) solid-state power amplifiers and RF switches. With over six decades of presence on major U.S. space platforms, Frontgrade’s acquisition of Aethercomm will enable them to offer comprehensive and integrated solutions to aerospace and defense customers, combining Aethercomm’s active RF amplifiers and switches with Frontgrade’s existing antenna solutions.
“Aethercomm’s RF technologies have an excellent reputation for reliability and are very complementary to Frontgrade’s current portfolio of processing, power and propulsion solutions,” said Mike Elias, President and CEO at Frontgrade. “We look forward to integrating Aethercomm’s business capabilities and highly skilled team with Frontgrade, and we anticipate that the end-to-end range of products we now offer will provide significant advantages to our customers.”
Aethercomm will operate as a division of Frontgrade and be rebranded as Frontgrade Aethercomm.
