Less than half of employers see remote work as a way to drive recruitment and retention, McKinsey research has found. But employees clearly think differently.

According to McKinsey and LeanIn.org’s Women in the Workplace 2023 Survey, both men and women name remote work and control over the timing of their work as two of their three most-valued benefits. (Healthcare was the No. 1 valued benefit for both genders.)

In the survey—which polled more than 27,000 employees at 276 organizations—78% of women said that remote work was among their top three most valued benefits, and 60% of men said the same.

There’s a “disconnect” between how employers and employees view remote work, Alexis Krivkovich, managing partner at McKinsey, told CFO Brew.

To explore the remote work expectations gap, click here.—CV

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College freshmen kicked off their parents’ Netflix accounts may be up in arms about the streaming giant’s password sharing crackdown, but Netflix is getting the last laugh, according to its latest earnings report.

The company posted a revenue beat of $8.5 billion, after unveiling new password initiatives in the US in May.

And changes to the platform didn’t deter new subscribers: Netflix added 8.76 million subscribers globally in the quarter, handily beating the 5.49m Wall Street expected, per Street Account estimates. In Wednesday’s earnings release, Netflix cited “the roll out of paid sharing, strong, steady programming and the ongoing expansion of streaming globally” for the hefty climb. It marks the biggest jump since Netflix added 10+ million subscribers at the height of the pandemic in 2020, according to CNBC.

The two-second takeaway: Netflix is still setting the pace for the streaming industry—strikes, password crackdowns, and price increases be damned.

For more on how Netflix is boosting earnings, click here.—NP

Hospital and health system deal activity is finally starting to rebound following a pandemic-era plunge, according to consulting firm Kaufman Hall—but, hospitals are increasingly citing financial distress as the reason behind the deals.

In more than a third of the 18 hospitals and health systems deals made in Q3 2023—including mergers and acquisitions (M&A) and partnerships—at least one party cited financial distress as the impetus for the transaction, a figure that’s “well above historical benchmarks,” according to the firm.

“Hospitals and health systems have been under extreme financial pressure since 2022, when median operating margins remained in negative territory for the full year,” Kaufmann Hall analysts wrote in an October 12 report. “These challenges are reflected in the 39% of announced transactions in Q3 in which a party has cited, or publicly available information has enabled Kaufman Hall to infer, an element of financial distress as a transaction driver.”

Click here to read Healthcare Brew’s story on how financial distress is driving M&A for hospitals.—MA

Today’s top finance reads.

Stat: 44%. That’s how much Tesla’s profit fell in Q3. The automaker cut prices on its cars earlier this year in the face of stiff competition but the lower price tags took a big bite out of earnings. The company notched a net profit of $1.9 billion last quarter, down from $3.3 billion in Q2. (the New York Times)

Quote: “Companies on earnings calls may warn about the outlook and risks ahead, but they are still holding on tight to their workers as good help is increasingly hard to find. The economy and labor markets are simply not slowing down, and time will tell if this will reignite the inflation fires that until recently were looking contained.”—Christopher Rupkey, chief economist at FWDBONDS in New York, on the surprise decline in first time jobless claims, which fell to a nine-month low last month. (Reuters)

Read: The teetering Chinese economy could pose new and unpredictable challenges to the global economy. (the Wall Street Journal)

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