Fully work-from-home has worked for corporate America as a temporary solution to the coronavirus pandemic, but top executives at some of the largest companies say their firms are still working out what the new employee normal will be, and burnout is a big risk.
“The myth that work from home is not productive has been busted,” said Harmit Singh, CFO at Levi Strauss & Co. at a recent CNBC @Work virtual event. “I believe we will settle into a culture where working from anywhere will be the new norm, with work from home or office or a hybrid arrangement.”

Levi Strauss “pulled the plug” on any new commercial real estate it was exploring this year, the CFO said, as it attempts to figure out what the new workplace structure will look like, and that includes concerns about productivity declines.
“Employee burnout is a core issue,” Singh said. 
Changes to work scheduling that Levi Strauss already has made to mitigate this productivity challenge include a mandate that meetings be shorter, that no meetings be scheduled on Fridays, and making the last Friday of every month a day off. 
“I believe we will go through a second wave of team member or employee duress,” Schuyler said. “The first wave was when the crisis first hit us in the spring, and the second is settling in … and it will be longer term,” he said.
With schools back in session and parents having to balance many needs of school-age children, “the second wave of duress is gonna hit and it is causing lower productivity,” the Hilton CHRO said. “With the isolation from work from home, we can expect to see more of it,” he added. “Keeping the workforce connected remotely was sustainable for a period of time, but it is harder as it goes on.”

Senior human resources and financial executives say work will be hybrid, with both work from home and some return to offices part of a new normal, and figuring out how to relieve employee stress and isolation are top concerns.
Clara Margais | picture alliance via Getty Images

Schuyler said Hilton is looking at ways to engage not just virtually, but get offices reopened to safely engage in person, and as a lodging company, the problem is at the property level as well. since it is reopening across 6,200 properties around the world and that includes dynamics likes employees delivering hospitality at a local level while wearing personal protective equipment.
“Employee well-being matters and we are learning as we go,” Schuyler said.
Hilton is surveying its workers more than ever before to gather feedback, as often as on an hourly basis.
Both Levi Strauss and Hilton have been forced to make layoffs. Levi Strauss announced in July it was cutting about 15% of its global corporate workforce, impacting about 700 jobs. Hilton laid off 22% of its corporate staff in June. 

The crisis threshold

The accelerating digitization of corporate spending is not only focused on the consumer experience.
Schuyler said its threshold in managing through a crisis was to start by protecting its core, and in hospitality, the core is people. From a financial perspective, the lodging company had to make tradeoffs and invest where it can receive the highest return from its people, and that ranges from operations being completely suspended to those that are just reopening, and how to reopen more efficiently. That requires leveraging the acceleration of technology for both work-from-home employees and the guest experience — from booking to the property-level using technology in a touchless way, “socially distanced hospitality delivery.”
Levi Strauss, which cut its overall spending plan from $200 million to $150 million, made cuts related to opening new stores and maintenance, while it pivoted spending to digitization of consumer experience, AI, and connecting with employees. Digital investments included support for buying online and picking up in stores, shipping from stores, ideas that went from being in the pre-Covid pipeline for future years to to being rolled out in months, according to Singh, but also included spending on digitization of employees working remotely.
“It is clear these are changes that will be here for the long term,” Singh said. 
Major companies are taking divergent approaches in the current uncertain environment. 
Alphabet said this week that it will lean in to a hybrid work model as most of its employees dont want to come in every day. 
Netflix CEO Reed Hastings recently said working from home is “a pure negative” but a return to the office for the majority of employees won’t happen until there is a vaccine.
Wall Street firms including JP Morgan are having key employees such as traders return to the office, but already facing Covid-19 cases and was forced to send workers home again.
For now, the days of six-month plans, annual plans, or plans even longer than that, are “gone,” according to the Levi Strauss CFO. “We’re uncertain about timing of a vaccine and it is not even one crisis. We’ve had crisis after crisis … the pandemic and recession and social injustice and fires and floods.”
For more on tech, transformation and the future of work, join the most influential voices disrupting the next decade of work at the next CNBC @Work Summit this October. More

As AI continues to take Hollywood by storm, Warner Music Group said it plans to produce an AI-generated Edith Piaf biopic.
The film, which has the blessing of Piaf’s estate, remains in the proof-of-concept phase.
Hollywood studios and unions recently battled over guardrails for usage of AI technology in filmmaking.

Singer Edith Piaf
Keystone-france | Gamma-keystone | Getty Images

Warner Music plans to use artificial intelligence to recreate the voice and image of French artist and singer Edith Piaf, nearly 60 years after her death, the company said Tuesday.
The efforts are part of the production behind a biopic about Piaf, titled “Edith.”

News of the project comes as Hollywood grapples with anxiety over AI. It was a major point of contention in the recent writers’ and actors’ strikes, with the unions and studios clashing over guardrails for use of the technology.
AI could be a particular sore spot for the people who make animated movies. Jeffrey Katzenberg, the former Disney executive who co-founded DreamWorks, recently said AI would dramatically reduce the labor required to make animated films.
“In the good old days when I made an animated movie, it took 500 artists five years to make a world-class animated movie. I think it won’t take 10% of that. Literally, I don’t think it will take 10% of that three years out from now,” Katzenberg said.
The Animation Guild, which represents professionals in the animation industry, is taking the issue of AI seriously, a representative for the union told CNBC. The guild established a task force earlier this year to investigate AI and machine learning and then provide recommendations to union membership.
As for the Piaf biopic, the guild noted that the project appears to be in accordance with newly established SAG-AFTRA guidelines to receive consent “by an authorized representative of the deceased performer” to use a “digital replica” of the performer.

Warner Music said AI technology will be trained on “hundreds of voice clips and images” to “revive” the late singer for the 90-minute film, set to take place in the Paris and New York between the 1920s and 1960s. The biopic will be narrated using Piaf’s AI regenerated voice, while animation will “provide a modern take on her story.”
So far, only a proof of concept of the film has been created, Warner Music said. The company said it will partner with a studio to produce the full-length film. There’s no release date yet, either, a Warner Music representative told CNBC.
“It’s been a special and touching experience to be able to hear Edith’s voice once again – the technology has made it feel like we were back in the room with her,” the executors of Piaf’s estate said in a release. “The animation is beautiful and through this film we’ll be able to show the real side of Edith.”
Piaf had previously been the subject of a 2007 film, “La Vie en Rose.” Marion Cotillard, who portrayed Piaf in the film, won the Academy Award for best actress. More

Hurricane Ian made landfall over the west coast of Florida on Wednesday afternoon.
The National Hurricane Center downgraded the storm to a Category 3 hurricane.
Track the hurricane’s progress here.

Hurricane Ian made landfall over the west coast of Florida as a category 4 storm on Wednesday afternoon, according to the National Hurricane Center.
The storm knocked out power to at least 1.8 million people in Florida, according to the Associated Press.

The National Hurricane Center downgraded the storm to a Category 3 hurricane with maximum sustained winds of 115 mph at 8 p.m., with its center located at about 95 miles southwest of Orlando, Orange County.
“We’ve asked all of our residents to start the process of sheltering in place,” Orange County Mayor Jerry Demings said at a news conference. “You should not be out on the roadways at this time moving about the community.”
Orlando was under a hurricane warning and the National Weather Service said conditions were expected to “deteriorate tonight.” The agency said “TS to hurricane force winds are expected. The threat of significant to catastrophic flooding is expected to develop tonight.”
“There’s no question that we’re now feeling the effects of this hurricane, and we haven’t seen the worst of it yet,” Demings said.
“Widespread, life-threatening catastrophic flash and urban flooding, with major to record flooding along rivers, is expected to continue across central Florida,” the National Hurricane Center said in an update.

Technicians monitor Hurricane Ian inside the National Response Coordination Center at the Federal Emergency Management Agency (FEMA) headquarters, on September 28, 2022 in Washington, DC. Hurricane Ian, with sustained winds of 155 mph, is approaching Category 5 status as it heads toward Florida’s southwest coast.
Kevin Dietsch | Getty Images News | Getty Images

The storm initially hit near Cayo Costa, Florida with maximum sustained winds at 150 mph, the center said on Twitter. It hit Punta Gorda, near Pirate Harbor, just a few hours later.
Hurricane Ian greatly intensified as it neared land, reaching winds of 155 mph and nearing the most dangerous Category 5 classification Wednesday morning. Hurricane force winds were 35 miles out from the center and tropical storm force winds were 150 miles from the center, according to the National Weather Service.
“This is going to be a nasty, nasty day, two days” Gov. Ron DeSantis said early Wednesday in a press conference. Officials in Florida and nationally are closely tracking the storm’s movements.

A down tree lays over the road after being toppled by the winds and rain from Hurricane Ian on September 28, 2022 in Sarasota, Florida.
Joe Raedle | Getty Images News | Getty Images

More than 2.5 million people were under mandatory evacuation orders in Florida, but legally, no residents can be forced to leave their homes. DeSantis said the highest-risk areas in the state range from Collier County up to Sarasota County, and it is no longer safe for residents in those counties to evacuate.
“Do what you need to do to stay safe. If you are where that storm is approaching, you’re already in hazardous conditions. It’s going to get a lot worse very quickly. So please hunker down,” he said.
Rainfall near the storm’s landfall site could top more than 18 inches, and storm surges could push as much as 18 feet of water over nearly 100 miles of coastline, according to the National Hurricane Center. The National Weather Service has also issued the highest-possible wind warning for several regions in Florida in anticipation of extreme wind damage from the storm. But meteorologists were most concerned about the flooding.

Hurricane Ian approaches west coast of Florida on Sept. 28th, 2022.

“Water. We have to talk about the water,” warned National Weather Service Director Ken Graham. “90% of fatalities in these tropical systems comes from the water. It’s the storm surge, it’s the rain.”
Much of Florida’s west coast is already experiencing significant storm surges, as whipping winds and feet of water have blanketed the streets of cities like Fort Myers. The city wrote on Twitter that it is experiencing gusts of wind up to 77 mph and asked residents to “PLEASE stay indoors.” It warned that conditions will continue to escalate throughout the day.
For residents who can still evacuate, American Red Cross CEO Gail McGovern encouraged them to follow the evacuation instructions of their elected officials and bring essential medication, documents and other items like glasses with them.
“Check on your neighbors and please don’t wait out the storm if you’re being told to evacuate — it’s dangerous,” she said in a Wednesday press briefing.
Gov. DeSantis said the state has 42,000 linemen, 7,000 National Guard troops from Florida and elsewhere and urban search and rescue teams ready to help when the storm is over.

Utility trucks are staged in a rural lot in The Villages of Sumter County, Fla., Wednesday morning, Sept. 28, 2022, in preparation for Hurricane Ian.
Stephen M. Dowell/Orlando Sentinel via AP

The hurricane left all of Cuba without power after it pummeled the island on Tuesday, according to NBC News. At least two storm-related deaths were reported in Cuba as of Wednesday.
As the storm continues to batter the Florida coast, the National Hurricane Center issued new watches and warnings for parts of North Carolina and South Carolina.
Hurricane Ian is even visible from the International Space Station, with onboard cameras capturing footage of the storm as it looms over Florida.

The view of Hurricane Ian from cameras on the International Space Station, as the orbiting research laboratory passed near the storm around 3 p.m. ET on Sept. 28, 2022.

Even once the storm is over, DeSantis said it may not be completely safe to go outside. He encouraged residents to be careful of fallen powerlines, standing water and fallen trees.
President Joe Biden told Florida residents Wednesday he would support them through the storm “every step of the way.”
“We’ll be there to help you clean up and rebuild, to help Florida get moving again,” he said.
Candy Powell, an east Orlando resident, has lived in Florida since 2016 and watched the state face hurricanes like Irma, Dorian and Matthew. She said she feels like there was less time to prepare for Hurricane Ian, but she is trying to stay calm for the sake of her neighbors. 
“I think a lot of people who just moved into Florida were really, really stressed,” she told CNBC. “I’m kind of trying to be like the calming factor. Even going to the store yesterday, I actually just kind of had to almost get just regular groceries. The shelves were empty. There was hardly any canned stuff left.” 
Powell can tell the storm is picking up, and she said she is already noticing rushing winds and heavy rain.

Palm trees blow in the wind from Hurricane Ian on September 28, 2022 in Sarasota, Florida. Ian is hitting the area as a likely Category 4 hurricane.
Joe Raedle | Getty Images News | Getty Images

Flannery Dziedzic, who lives in Naples, said she has also noticed the winds pick up in her area. She said her power has been going in and out, and a piece of debris hit her window while she was on the phone with CNBC.
The storm seems bigger and more intense than hurricanes she’s dealt with in the past, she said, but since she is six miles from the coast, she feels “pretty safe.”
“I feel like Floridians are really resilient,” she said.
NBC News contributed to this report
This story is developing, please check back for updates.

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Roku is counting on its growing consumer base beyond 70 million customers as it launches its own line of televisions, CEO Anthony Wood told CNBC.
Wood said “the core of that business is the market share of our platform.”
Roku will sell 11 TV models ranging from 24 to 75 inches, which will be available for purchase in the spring. Prices will be between $119 to $999.

Roku is counting on its growing consumer base beyond 70 million customers as it launches its own line of televisions, CEO Anthony Wood told CNBC on Thursday.
The streaming company unveiled its new line of televisions, Roku Select and Roku Plus Series, Wednesday during the Consumer Electronics Show.

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Roku has sold hardware items in the past, like sound-amplifying devices and streaming players, though they have often been the money-losing parts of its business. Still, Wood is optimistic about selling the new TVs.
“We generate billions of dollars a year in revenue from advertising, from distributing streaming services and we have a great platform to do that, but the core of that business is the market share of our platform,” said Wood.
It will sell 11 TV models ranging from 24 to 75 inches, which will be available for purchase in the spring. Prices will be between $119 to $999.
Roku’s commitment to hardware comes after a tough year that saw its stock fall 80%, forcing the company to cut costs in areas like advertising and jobs.
The company tightened its fourth quarter guidance in November, projecting $800 million in revenue, a more than 7% decrease year over year. Weeks later, the company announced it was cutting around 200 jobs, or 5% of its workforce. It also reined in its advertising expenses in an attempt to slim margins.

“If you look at our overall ad business, obviously the industry is hurting right now,” said Wood, though he noted that advertising in streaming is growing faster than traditional television advertising.
But Wood is staying hopeful, banking on the momentum of the streaming industry at large.
“Roku streaming hours were 87 billion hours of streaming last year” said Wood. “That was up 19% year over year. The world is moving to streaming. All TV is going to be streamed, that means all TV advertising is going to be streamed.”
So far, Roku’s streaming technology has been usable through TVs made by manufacturers Hisense, TCL, Philips, JVC and others. By introducing its own television line, it will compete with those very partners.
Shares of Roku are up more than 4% in the early going of 2023, closing at $42.76 on Thursday.

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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. What Netflix earnings mean for Disney 2. Halliburton has a cheap valuation 3. Bausch + Lomb chairman steps down 4. Quick mentions: AAPL, AMZN 1. What Netflix earnings mean for Disney Netflix (NFLX) shares were up Wednesday after the streaming service reported that it only lost 970,000 subscribers, which was better than the street expectations of 2 million. Not-so-bad news was good news to investors. What does this mean for Investing Club holding and fellow streaming giant, Disney (DIS)? Now that Netflix earnings is out of the way, Disney is in the spotlight. Cramer says we may see a run in Disney if the dividend comes back or the balance sheet gets better. The Investing Club’s take: Disney has many franchises and is entering new markets while Netflix’s growth may be “tapped out,” said Jeff Marks, the Club’s director of portfolio analysis. “Let’s stop conflating Netflix and Disney,” Cramer said in Wednesday’s Investing Club ‘Morning Meeting. Disney can strengthen its streaming by monetizing its famous characters. Netflix doesn’t have this leverage. 2. Halliburton has a cheap valuation Halliburton (HAL) CEO Jeff Miller joined CNBC’s Mad Money on Tuesday and said his company has an edge when it comes to technology and innovation in the oil sector. The interview followed Halliburton reporting better-than-expected earnings results for the second quarter. In its earnings call with investors, management also stressed the current energy market is less prone to the boom and bust cycles of the past and it expects stronger years ahead. We like Halliburton because it’s one of the leaders in its sector and has a cheap valuation. “If you’re looking for something to buy because you think you’re underinvested, and you agree with me that the rally is still on, my choice is Halliburton,” Cramer says. 3. Bausch CEO steps down Bausch + Lomb (BLCO) said Joe Papa has resigned as chairman of the board. He will remain CEO of the company until a successor is found. Bausch Health Companies (BHC) in May spun off eye-care business Bausch + Lomb from the rest of its pharmaceutical brands. Cramer called the timing of the long-awaited breakup a “major gaffe,” as we expected the company would breakup in a way that maximized shareholder value. Unfortunately, that didn’t happen . Billionaire investor Carl Icahn is now on the board of the company, likely to help direct ways to increase shareholder value, and we see this as a positive for the company. Right now, the Club has a 4 rating on Bausch Health — meaning we do not want to buy or sell until we hear more of the activist investor’s plans for the company and learn more of the outcome of the Xifaxan litigation. 4. Quick mentions: AAPL, AMZN Investing Club holding, Amazon (AMZN) had its price target lowered at Jefferies to $150 from $163, but maintained a buy rating. The e-commerce giant sees pressure from inflation and a looming recession, but the analyst suggests the stock has already priced in those headwinds. “I like it because I think retail will bottom,” Cramer said on Amazon. Fellow FAANG stock and Club holding Apple (AAPL) also had price target drop. Morgan Stanley went to $180 from $185. The analyst lowered the price target in anticipation that third-quarter earnings results next week will come in slightly below Street expectations. “If you don’t own Apple yet this close to when it reports, I think you got to wait and see,” Cramer said. But if you already own it, continue to hold and don’t trade it. (Jim Cramer’s Charitable Trust is long DIS, HAL, BHC, AMZN, AAPL. See here for a full list of the stocks.) “As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade” THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.”

Jim Cramer standing in front of the NYSE, June 30, 2022.
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