Elon Musk, CEO, Tesla, first disclosed the intention to reduce the company’s workforce by over 10 per cent on 15 April, citing the need to adapt to changing market dynamics. Since then, multiple rounds of layoffs have been executed, with Musk reportedly aiming for a 20 per cent reduction in headcount.

The latest round of layoffs will primarily impact workers at Tesla’s Palo Alto and Fremont facilities. Furthermore, the termination process set to commence within a 14-day period starting 20 June, 2024, according to the Worker Adjustment and Retraining Notification (WARN) notice issued by Tesla.

Last month, Tesla announced plans to cut 6,020 jobs in California and Texas as part of its broader downsizing strategy. This significant reduction underscores the company’s efforts to address economic challenges and competitive pressures in the electric- vehicle market.

In addition to the cuts in California and Texas, Tesla’s restructuring has also affected its Buffalo, New York, facilities, resulting in the layoff of 285 employees involved in Autopilot software labelling and fast-charging equipment manufacturing.

These layoffs reflect Tesla’s strategic shift towards optimising operations and reducing costs, particularly in high-cost regions such as California. The Palo Alto and Fremont facilities play a critical role in Tesla’s research, development and manufacturing activities.

The move also aligns with broader trends in the tech and automotive industries, where companies prioritise cost management and operational efficiency. For Tesla, maintaining market leadership requires a balance between innovation and financial prudence.

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This decision by Honda reflects the ongoing challenges faced by Japan’s traditional car brands in China. The increasing dominance of local manufacturers such as BYD, coupled with a fierce price competition, is eroding market share for foreign brands. Additionally, Chinese consumers are gravitating towards electric vehicles and plug-in hybrids, segments where Japanese brands find it challenging to compete with their domestic counterparts.

GAC Honda Automobile, a collaboration between Honda and Chinese state-owned automaker Guangzhou Automobile Group, informed workers earlier this month about its intention to implement voluntary layoffs.

In an announcement made on Wednesday, 15 May, the Japanese automaker revealed that about 1,700 employees have opted to depart. Of these, 14 per cent represent the production workforce. The venture is currently deliberating on the number of workers it will accept for voluntary retirement. However, the company emphasised that the final tally may vary from the 1,700 workers who have expressed their desire to leave thus far.

Honda operates four factories in China through the aforementioned venture, which has its origins dating back to the late 1990s, and three additional factories through another joint venture established with Dongfeng in 2004.

In April, passenger vehicle sales in China, the world’s largest auto market, experienced a 5.8 per cent decline compared to the previous year, as reported by the China Passenger Car Association. This decrease is attributed to escalating price competition and consumer hesitancy towards significant expenditures amid an uncertain economic recovery.

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The letter from Chris Hyams, CEO, Indeed.com, attributed the job cuts to the company’s efforts to simplify the organisation. It is also aimed at facilitating swifter decision-making processes, bolstering revenue and hiring endeavours.

It highlighted that unlike the previous year’s reductions primarily driven by cost-saving objectives, this year’s action aims at optimising efficiency to meet growth targets. Furthermore, it aims to assist 100 million individuals in securing employment by 2030.

The letter also clarified that while the current round of layoffs impacts various groups and regions, it is more concentrated in the US, particularly affecting research and development (R&D) and certain Go-to-Market teams.

The decision-making process, as per Hyams, was fair and that there was no disproportionate impact on women, underrepresented genders, or minority groups in the US. Furthermore, the letter detailed the provision of separation packages tailored to regional requirements, encompassing severance, healthcare coverage where applicable and outplacement services, among other benefits.

Consequently, Indeed will embark on significant restructuring within its R&D division, streamline management layers and implement measures aimed at enhancing decision-making efficiency and organisational clarity. To address employee inquiries, company executives have scheduled a global town-hall meeting.

In March 2023, Indeed had announced a reduction of 2,200 positions, representing about 15 per cent of its global workforce. Citing market conditions and decreased demand for its technology amidst a subdued job market, the company had decide to undertake those cuts.

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In a move to share this success with its workforce, the Emirates Group has granted a generous 20-week bonus to its employees. This is also a part of the company’s commitment to recognising their dedication and contribution to the company’s triumph.

The announcement comes amidst a period of robust expansion, with the Group’s workforce reaching a record high of 1,12,406 employees. This is a 10 per cent increase from the previous year. Both Emirates and dnata, subsidiaries of the Emirates Group, have intensified their global recruitment efforts. This expansion aims to bolster operational capacities and fortify capabilities across various sectors.

Sheikh Ahmed bin Saeed Al Maktoum, chairman and CEO, Emirates Group, announced the news in an X post. He highlighted that the Group’s exceptional financial standing today sets a solid foundation for its future endeavours.
The remarkable financial performance is further accentuated by a record revenue of Dh137.3 billion ($37.4 billion), up 15 per cent, propelled by robust customer demand across business divisions.

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The workers, represented by the International Association of Machinists and Aerospace Workers (AIM) wish to draw attention to the lack of work-life balance for the employees due to unpredictable schedules. They have also been unhappy about the low wages, which are unable to keep up with the rising cost of living.

Recently, the US Labour Board ruled that the tech firm, Apple did indeed question its employees regarding union activities and also prevented them from placing union flyers in the break room as was alleged Back in 2022, it was found that employees—who had placed flyers on a table in the break room within the office at the World Trade Centre store in New York City—had been interrogated about their actions. The flyers were also taken possession of arly last year, that is, in February 2023, the National Labour Relations Board (NLRB) had started seriously looking into complaints filed by employees and unions who claimed that Apple tried to hinder employees efforts to organise, except when it was a case where the Company itself was settling first.

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The mail from Elon Musk, CEO, Tesla, that has been viewed by thousands on social media ever since, says in a very ruthless and matter-of-fact manner, “Your last working day is today”. That is not all; the mail isn’t even personal, beginning with “Hello employee”. Musk did not even care to name the employee indicating a communication that is bereft of all emotions.

Some of the employees had received this termination mail on their personal e-mail ids as their official ids had been blocked. The mail also informed them that they had lost access to their official ids as well as office premises had been stopped with immediate effect.

The exact words were, “You will not need to perform any further work and therefore will no longer have access to Tesla systems and physical locations.”

In mid April, Tesla had announced a significant restructuring plan that it said would result in a 10 per cent reduction of its global workforce, potentially affecting around 14,000 employees worldwide. This move was aimed at streamlining operations and slashing costs amidst recent challenges.

Notably, the layoffs extended to high-level executives, with Drew Baglino, senior VP, who oversaw the power train and energy divisions for 18 years, among those departing at the time. Since then, many from the senior ranks have left the company, adding to the feeling of uncertainty amongst the employees.

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Set to launch in October, this initiative will span 15 regions across England, including prominent areas such as Greater Manchester, South Yorkshire and Cornwall. The programme will link an estimated 59,000 individuals with vital local services such as physiotherapy and counseling. The ultimate objective is to curtail the number of individuals exiting the workforce due to health-related reasons, thereby fostering a more inclusive and resilient labour market.

At its core, WorkWell offers a seamless integration of health and employment services, streamlining processes through a single assessment and gateway. By facilitating access to tailored support, the programme endeavours to empower participants in managing their health conditions effectively and identifying necessary workplace adjustments to facilitate sustained employment.

For instance, an individual grappling with chronic back pain and depression may be contemplating leaving their job. Upon referral from their GP, employer, or local service, they can engage with a Work and Health Coach to devise a personalised plan. Subsequent sessions may involve consultations with physiotherapists, counsellors, and access to additional services such as training opportunities or financial advice, equipping them with the tools to maintain gainful employment.

Furthermore, under the voluntary WorkWell service, participants will benefit from personalised guidance provided by dedicated Work and Health Coaches.

Moreover, WorkWell is poised to bolster existing mental- chealth support efforts, building upon a record £16 billion investment in the previous year. As part of the £2.5 billion Back to Work Plan, the government is expanding NHS Talking Therapies, augmenting resources dedicated to mental-health support.

This announcement comes as part of the prime minister’s comprehensive welfare-reform package, prioritising initiatives such as fit notes and personalised work and health plans. The overarching aim is to forestall individuals’ transition into long-term sickness benefits, thus fostering a more resilient workforce.

This also aligns with broader efforts to combat economic inactivity stemming from prolonged illness, which currently afflicts an estimated 2.8 million individuals.

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This reminds us of a similar oversight that was discovered back in March 2018 in India, when it was found that the Delhi division of the northern zone had been generating bills towards allowances for overtime, night duty and travel to employees who did not work for them. It is reported that this disbursement of payments to non-existent staff drained the exchequer of Rs 1.5 crore during 2016-17. As a result, a need was felt to closely sift through the employee master data.

Instructions were then issued by the Railway Board to the zonal railways to undertake a validation exercise to match the master file of employees’ data with the service records for each one of them.

Fortunately for Kuwait, Minister of Education and Higher Education and Scientific Research Adel Al Adwani had directed the implementation of a fingerprint system for marking employee attendance, and integration of this system with the Civil Service Bureau’s systems. This had led to the discovery of wrong payments being made towards salaries of employees who had not just left the service of the ministry but also the country.

As per The Siasat Daily, a committee was set up to look into the oversight and to take legal action against those found accountable. Employee records and employment contracts are being examined across schools and departments to ensure compliance.

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Back in 2022, it was found that employees—who had placed flyers on a table in the break room within the office at the World Trade Centre store in New York City—had been interrogated about their actions. The flyers were also taken possession of.

Last year, Judge Lauren Esposito had ruled that Apple’s actions were illegal, as the employees were indulging in “protected concerned activity”. Apple was directed to refrain from interrogating employees in this manner about their pro-union activities or confiscating any related material.

Now, the Labour Board has also affirmed Esposito’s observations.

Early last year, that is, in February 2023, the National Labour Relations Board (NLRB) had started seriously looking into complaints filed by employees and unions who claimed that Apple tried to hinder employees efforts to organise, except when it was a case where the Company itself was settling first. Some employees had protested saying they were entitled to discuss protected issues openly, but Apple stopped them from doing so. This included subjects such as workplace harassment and pay transparency.

The complaints first came to light in 2021. At the time, Apple had maintained that it is committed to establishing an inclusive workplace full of positivity; that it takes complaints seriously and conducts investigations when matters are raised. It maintained that it refrained from discussing employees’ issues and concerns as it respected their privacy.

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The people working for these magazines have been trying to get better deals for over a year now. They want to make sure they can’t be fired for no reason, and they want to stop some of their friends from losing their jobs. The group comprises about 540 people, who are part of this union.

Apart from advocating for a just cause as the basis for employee termination, the union organisers are vehemently opposed to layoffs proposed in November, which they claim would impact 17 per cent of union members, that is, nearly 100 employees.

The potential strike, less than 24 hours before the star-studded event, poses a significant challenge for the magazine’s editor- in-chief, Anna Wintour, and could disrupt one of the fashion industry’s most anticipated nights of the year.

Last week, the union had a big rally, and they’ve been putting up signs in the neighborhood of Anna Wintour, editor-in-chief. They’re really hoping to get everyone’s attention, even the celebrities who were supposed to come to the party.

As of Sunday evening, a resolution to the contract standoff had not been achieved. However, a spokeswoman for the NewsGuild of New York, expressed hopefulness regarding ongoing negotiations but affirmed the union’s readiness to take action if necessary.

It is hoped that a deal would be struck in time for the Met Gala.

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The AEWV allows a person to work in New Zealand for an accredited employer who has offered at least 30 hours of work a week. If the employee is paid less than the median wage or is employed in an ANZSCO level 4 or 5 job, the stay period can be less than five years.

In fact, for ANZSCO level 4 and 5 jobs where the employee earnings equal or are more than the required AEWV wage rate, the length for an AEWV cannot be more than two years. They can apply for another year, with a new Job Check. The length of an AEWV and maximum continuous stay for those working ANZSCO level 1 to 3 jobs will be five years

For those who have applied for their first AEWV on or after 7 April 2024, or before 21 June 2023, the total time of stay in New Zealand, that is, the maximum continuous stay on one or more AEWVs has been cut down to three years.

Once they complete the maximum continuous stay, they will have to leave the country, usually for a year, before being allowed to apply for another AEWV.

Certain ANZSCO level 4 and 5 employees will remain unimpacted by these rules, such as those working in the transport and care sector and are about to get residence, or those who are earning 1.5 times the median wage.

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Under the terms of the agreement, employees will receive a two-step raise totaling 11.5 per cent, which falls short of the 15.5 per cent initially demanded by the unions. However, in a significant concession, Deutsche Bank has committed to refraining from forced layoffs until December 2027, providing a measure of job security for its workforce.

This agreement marks a significant milestone for Deutsche Bank, which has been contending with various challenges within its Postbank brand. Apart from the wage dispute, the bank faces potential financial liabilities stemming from a lawsuit filed by former Postbank shareholders, alleging underpayment during its acquisition. Additionally, customer- service issues have prompted regulatory intervention, leading to bonus reductions for some top managers.

Despite the financial implications of the pay deal, Deutsche Bank asserts that it has already factored it into its financial planning and that it remains committed to its cost targets.

Recently, the Bank mandated that its employees should work from office thrice a week. However, it did not expect so much resistance and criticism from the workforce. The employees protested on the internal messaging board in Germany, with some saying there is not enough space for everyone to work from the office.

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That means, the lowest salary for federal government staff, including those employed in the health, education and security space, will be about $323.97 annually.

The monthly minimum wage is also being revised in consultation with the labour unions. The last revision happened five years ago.

Elsewhere, in Malaysia, civil servants will see their salaries going up by at least 13 per cent amid surging prices and the ringgit losing its strength. This is the highest salary increment till date, and it will cost the country about $2.10 billion. The Malaysian government is looking to ensure that civil servants earn a minimum monthly income of over 2,000 ringgit. This hike will come into effect from December this year.

The last revision of salaries took place 12 years ago, when a hike of 13 per cent was granted.

Never before has the Malaysian government revamped the Public Service Remuneration System so comprehensively. This is said to be the largest wage scheme when it comes to monetary implications for the Government of Malaysia. However, underperformers will neither receive any hikes nor any promotions.

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The jobless rate was four per cent in the fourth quarter, as per officially available data from Statistics New Zealand.

The employment change fell by 0.2 per cent in Q1 from a 0.4 per cent rise previously. Employment change indicates the aggregate rise or fall in the number of workers. A positive employment change means surge in employment, while the opposite indicates a decline in jobs.

In early April, New Zealand had implemented significant changes to its Accredited Employer Work Visa (AEWV) scheme in response to a near-record surge in migration last year. The government deems this rapid influx unsustainable and aims to prioritise both New Zealand citizens and highly-skilled migrants.

The revised programme introduces stricter requirements for low-skilled job seekers. Applicants must now demonstrate English language proficiency and meet minimum skills and work experience thresholds. Additionally, the maximum continuous stay for most low-skilled roles has been reduced from five to three years.

The New Zealand government is trying to attract and retain highly-skilled migrants such as secondary teachers, as there is a shortage of skills in that area. Simultaneously, the country needs to ensure that the locals are considered first in the areas where there is no dearth of skills.

The year 2023 was witness to near-record migration figures with almost 1.73 lakh individuals settling down in New Zealand. As a result, there are worries about the impact on inflation and infrastructure, including schools and accommodation.

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The investment will revolutionise the nation’s digital landscape, marking Microsoft’s largest-ever commitment to the country in its 29-year history. Furthermore, it aligns with Indonesia’s ambitious Golden Indonesia 2045 Vision, aimed at propelling the nation into a global economic powerhouse.

Speaking on the significance of this partnership, Satya Nadella, chairman and CEO, Microsoft, emphasised the transformative potential of AI in shaping societies worldwide, including Indonesia. Nadella expressed confidence that the investments announced will empower Indonesia to thrive in the rapidly-evolving digital era.

This monumental investment builds upon Microsoft’s existing Berdayakan Indonesia (Empower Indonesia) initiative, announced in February 2021. It aims to accelerate inclusive economic growth. The current investment will cater to the surging demand for cloud computing services in Indonesia and unlock the economic potential of AI technology.

This partnership will serve as a gateway for Indonesia to become a leading contributor to the global technological supply chain, realising Indonesia’s digital innovation ambitions.

Additionally, Microsoft also announced a broader commitment to provide AI skilling opportunities for 2.5 million individuals across ASEAN member states by 2025. This initiative underscores Microsoft’s dedication to fostering digital literacy and empowering individuals to thrive in the AI-driven economy.

The significance of developers in harnessing AI’s potential was underscored by Nadella, who highlighted Microsoft’s efforts to nurture Indonesia’s developer community. Initiatives such as AI Odyssey aim to equip thousands of Indonesian developers with the expertise needed to leverage AI effectively.

Indonesia’s burgeoning developer community, currently the third-largest in the Asia-Pacific region, is poised for exponential growth, with Microsoft projecting it to be among the top five globally by 2026.

Microsoft’s commitment to Indonesia extends beyond infrastructure and skilling initiatives. The tech giant is actively collaborating with local organisations to deploy AI-powered solutions across various sectors, ranging from finance and transportation to education and healthcare.

From enhancing operational efficiency at traditional banks to revolutionising aquaculture with AI-driven insights, Microsoft’s AI solutions are driving innovation and productivity across Indonesia’s diverse industries.

Moreover, Microsoft is prioritising ethical AI development, aligning its practices with Indonesian regulatory frameworks and ethical standards. The company’s voluntary commitment to implementing AI ethical values underscores its dedication to ensuring that AI serves as a force for good in Indonesia and beyond.

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This marks the second time Crown Resorts has had to downsize its workforce, following last year’s reduction of nearly 300 jobs at Crown Sydney. Additionally, operational adjustments such as the closure of one gaming floor and reduced operating hours at another in Sydney have been made to streamline operations.

This move will affect approximately five per cent of Crown Resorts’ workforce, totaling 20,000 employees.
The company highlighted the impact of reduced tourism and dwindling local foot traffic in urban centres. Furthermore, the gaming restrictions in Sydney and Melbourne are other key factors contributing to the need for workforce reduction.

Despite these challenges, Crown Resorts remains steadfast in its commitment to regulatory compliance and ongoing transformation initiatives. These include the implementation of Crown PlaySafe, as well as transformation plans for its Melbourne and Sydney properties, along with continuous remediation efforts in Perth.

Crown Resorts is one of Australia’s largest entertainment groups, primarily operating in the integrated resort and casino sector. Established in 2007, the company has grown to become a major player in the hospitality and tourism industry, known for its luxury resorts, hotels and casinos. Crown Melbourne, located in the heart of Melbourne’s Southbank precinct, is one of the largest casino complexes in the Southern Hemisphere, while Crown Perth is situated on the banks of the Swan River in Western Australia.

However, Crown Resorts has faced significant challenges and controversies in recent years. Allegations of corporate misconduct, including breaches of anti-money laundering laws and partnerships with junket operators linked to organised crime, have led to government inquiries and regulatory scrutiny.

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As per internal sources, this has led to the immediate dismissal of all implicated employees.

There are four individuals now under criminal investigation by public security organs for suspected criminal activities. Among them, an employee allegedly abused their position to illicitly accept substantial benefits from external business partners. This resulted in their criminal detention for investigation since 26 January.

Another former outsourced employee allegedly colluded with external parties to inflate TikTok account views, earning illegal income and facing similar consequences.

Furthermore, 24 employees were found involved in various forms of misconduct, including submitting inflated invoices or personal expenses as legitimate business costs, misusing company funds, and engaging in fraudulent activities. One employee notably misappropriated company resources for personal gain, while multiple others were guilty of submitting false reimbursements.

Moreover, ten employees were implicated in unauthorised access, retention, and disclosure of internal company information, as well as facilitating external individuals’ use of sensitive internal systems. These breaches ranged from collaboration with competitors to leaking sensitive business information to external parties, severely compromising ByteDance’s integrity and operations.

ByteDance has taken swift action, revoking their stock options and year-end bonus eligibility. Furthermore, the company has unequivocally stated its zero-tolerance policy towards corruption, bribery, and all forms of fraud and dishonest behaviour. Any confirmed violations of laws, regulations, or employee codes of conduct result in immediate dismissal, with no chance of rehire.

For cases suspected of criminal activity, the company pledges full cooperation with judicial authorities to ensure individuals are held accountable for their actions.

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Developers at Google use Python, which is a flexible object-oriented language, in Google’s build system..Dart offers the language and runtimes to drive Flutter apps, while also supporting other core developer tasks including formatting, analysis and code testing. Flutter is Google’s user-interface or UI toolkit used to create apps for mobile phones, the web, and desktop from a single codebase. Working with existing code, Flutter is popular with developers and organisations worldwide.

The tech firm has, however, made it clear that these layoffs are not companywide; that this workforce reduction is only aimed at a reorganisation; and that those affected will be allowed to apply for positions elsewhere within Google. The company will also help with outplacement and provide severance.

With this simplication of the structure and hierarchy, Googlers, it is hoped, will be able to focus more on the priorities of the organisation and its most innovative offerings.

Google was hogging headlines recently when it fired some employees who participated in sit-in protests against the company’s controversial $1.2 billion contract with Israel. The tech giant took a firm stance against the demonstrations, issuing a stern warning in an internal memo against violating company policies during protests.

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With over 70 job listings across various departments such as sales, customer support, and financial crime teams, Revolut is actively seeking talent to support its expansion efforts. The company’s recent industry announcement signals its commitment to scaling up its operations significantly by the end of the year.

Having achieved its first full year of profitability in March 2023, Revolut has been making strategic appointments to strengthen its leadership. Francesca Carlesi, former CEO of digital mortgage lender Molo, joined as the new UK CEO in November.

Despite awaiting its UK banking license, initially applied for in January 2021, Revolut recently obtained a banking license from Mexico’s National Banking and Securities Commission (CNBV). This milestone allows the company to operate a neobanking subsidiary in Mexico, further extending its global footprint.

Revolut is a UK-based financial technology company that offers digital banking services, including currency exchange, debit cards, fee-free spending abroad, stock trading, cryptocurrency exchange, and peer-to-peer payments.

The company gained popularity for its convenient and low-cost approach to banking, particularly for travelers and individuals who frequently make international transactions. One of its key features is the ability to hold and exchange multiple currencies at interbank exchange rates, with no hidden fees.

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This ruling followed when few Indians challenged the revocation of their H-1B visas by the US Citizenship and Immigration Services (USCIS). Their employers had been issued a ‘notice of intention to revoke’ while these Indian employees had been deprived of an opportunity to present their side of the case or their arguments pertaining to the revocation, which happened without their involvement in any fraud.

One H-1B visa holder’s employer had reportedly been charged with visa fraud more than 15 years ago. His visa was revoked although he was no longer an employee of that fraudulent firm. The said employee’s argument was that USCIS had gone against the Administrative Procedure Act by not allowing him an opportunity to respond to the accusations or defend himself.

This isn’t the first time such a case has been filed against the US government. Last year, that is, in 2023 too, 70 Indians had filed a case when their visas had been unfairly denied merely because their employers had been found to have been involved in some fraud of which they weren’t even aware.

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This move is one of the first such actions taken by a major company in the region.
The company has been grappling with the harsh realities of climate change. The Mediterranean stronghold of Catalonia, once lush and vibrant, now faces the brunt of fossil-fuel-driven environmental upheaval. Under Spain’s ERTE law, designed for unprecedented circumstances, the company seeks solace in temporary measures, suspending contracts as a means of survival.

With uncertainty looming over the future, Freixenet remains tight-lipped on the timeline for reinstating its workforce, as the law provides no definitive mandate. Citing the need for adaptability amid fluctuating conditions, the company underscores the gravity of its decision, emphasising the imperative to safeguard both business continuity and employee welfare.

Yet, amidst this turmoil, the voices of the affected workers remain unheard for now, their unions silent in the face of adversity.

As Spain grapples with record-breaking temperatures and historic dry spells, the urgency of climate action reverberates across the nation. Clearly, the toll of climate change is undeniable. As scientists link extreme weather patterns to human-induced climate shifts, the fate of Catalonia’s iconic landscapes hangs in balance.

Freixenet is one of the largest and most well-known producers of cava worldwide, with its products being exported to over 150 countries. The company is particularly famous for its distinctive black bottle, which has become an iconic symbol of Spanish sparkling wine.

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Well, for one, there has been a drastic depreciation of the won. Oil prices have gone up and so have borrowing costs. To top it all, the company’s performance was poorer than expected last year in terms of business.

The six-day work week will be implemented by the senior managers of Samsung Display, Samsung Electro-Mechanics and Samsung SDS this week itself. Other companies of the Samsung Group may also follow suit sooner or later. The move is hoped to drive home the urgency for immediate action to avert a crisis. It is expected that everyone will put in more efforts to improve the situation. Interestingly, Samsung has embraced a six-day workweek when worldwide organisations are considering shifting to a four-day work week. In Germany, at least 45l companies are trying out the four-day workweek for a period of six months starting 1 February. The objective is to find out whether productivity will increase and whether the reduction in work days will have any adverse effect on costs.

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For one, the number of H-1B visa holders is growing in leaps and bounds. Therefore, US employers have a huge pool to tap. Also, the labour market is tight and characterised by more movement of employees across industries. A third factor is that the number of applicants for green cards has also grown. Such applicants have the liberty to switch jobs without their employers having to go through the hassle of the green card process.

A report by David J Bier, director of immigration studies, Cato Institute reveals that last year, that is, 2023, about 61 per cent of all H-1B holders who joined a new employer were existing H-1B holders who had been working with other employers and had been poached or had decided to switch jobs.

Clearly, employers prefer hiring those who possess an H-1B visa and are already employed, with the required permissions and documents to work in the country.

Additionally, thanks to an amendment in policy about seven years ago, if H-1B visa holders lose their existing job, they are allowed two months, or 60 days to be precise, to find themselves another job.

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In December 2023, the sports brand had revealed its intention to launch a cost-saving initiative that will bring down expenditure by $2 billion in three years’ time. At the time, the company had also revealed that it would be spending about $400 million in severance pay to the impacted employees. Two months later, in February 2024, Nike had revealed its plans to do away with two per cent of its global workforce. That is, it was gearing to axe at least 1,600 jobs. It was also revealed that those working at the Nike stores and distribution centres, as well as the members of the innovation team were expected to be spared.

The next phase of trimming will take place in June end.

The workforce strength of Nike as of 31 May, 2023, was about 83,700.

This isn’t the first time Nike is trying to axe jobs. In 2020, it had let go 700 amidst the pandemic.

Meanwhile, Nike has found itself amidst a controversy due to an Olympic 2024 uniform meant for the US track and field members. The uniform was criticised for being too skimpy.

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In September 2023, after finalising the merger of Credit Suisse into UBS, the latter had revealed that it was going to completely absorb Credit Suisse’s 100 year-old Swiss division. This absorption was to involve axing about 3,000 jobs across the country. This is part of UBS’ redressal strategy for Credit Suisse, which was taken over by UBS in March 2023.

While specific numbers are yet to be officially revealed by UBS, analysts believe that about 30,000 to 35,000 jobs may be axed worldwide, which will result in huge savings. About 50 to 60 per cent of former Credit Suisse employees will be impacted by these layoffs reports SonntagsZeitung.

Earlier, in August 2023, UBS announced its intention to do away with one in 12 jobs in Switzerland, which would cut costs by over $10 billion.

The first wave will impact about 25 to 30 per cent of former Credit Suisse employees as their roles may no longer be required.

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The HR personnel in any organisation work hard to put the right talent in place. They also help arrange for the new entrants to be inducted, trained and settled in. Yet, with the number of job hoppers going up, it is common to find workers quitting an organisation in less than two years. This is where this AI tool may come in handy.

There is already an AI tool that helps identify students from a college or university who are considering dropping out. Shiratori and the startup are going to work on an upgrade of this AI tool, which will tell employers when fresh graduates who have joined them will quit their jobs. This prediction will be based on various factors, including the performance and attendance of the new joinees/freshers. The tool will employ data extracted from job interviews, the traits exhibited by the employees, their background, their history, attendance and so on to make the predictions.

The tool is being tested. In its pilot stage, it is also identifying freshers who seem to be facing challenges at work and at home. If such employees are sniffed out by the AI tool in time, it will become possible for their employers to offer them the help they require to improve their performance and productivity, instead of seeing them quit.

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According to his LinkedIn post, Bogdan’s termination happened because the human resources department “adopted the hub & spoke model for L&D” that he was pitching. In his own words, “Sadly, when my division already had their L&D team in place, there wasn’t a seat at the table for me.”

Bogdan is clearly not ready to retire yet as he feels “There is still so much that I want to contribute. So now begins the journey of finding my second career.”

He spent 30 years in the area of product development before switching to people development. He had joined Microsoft as software design engineer in 1991. By 2000, he had become architect-WPF/XAML.

In 2006, he was elevated to software development lead-Zune. From 2009 to 2014 he served as principal software development manager-Windows Phone. 2014 to 2018 he served as partner software development lead-Windows.

The next almost four years were spent as partner software development manager-UWP XAML.

It was only 2021 that he took on the role of director of learning and development, Microsoft Windows after three decades of product development.

Now seeking roles as software engineering consultant, learning and development consultant, director of learning and development, career coach, or mentor, Bogdan holds a bachelor’s degree in computer science from Virginia Tech.

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The focus of these cuts will primarily be on back-office roles within the company’s headquarters, with plans to implement them through voluntary retirement schemes. This proposed reduction would be the largest since the fallout from the 2015 accounting scandal.

The move is anticipated to incur a loss of about 100 billion yen ($646 million), covering expenses such as special retirement packages and outplacement services. This restructuring is part of Toshiba’s attempt to streamline its operations by consolidating its energy, infrastructure, devices, and IT divisions into its main headquarters, aiming for greater efficiency and synergy.

Following the company’s delisting from the Tokyo Stock Exchange in December, it has faced a substantial pressure to stabilise its financial position. Hence, Toshiba is not only concentrating on immediate financial convalescence but also on long-term strategic expansion.

The company recently inaugurated a new research and development centre to propel new technologies forward.

Toshiba Corporation is a Japanese multinational conglomerate headquartered in Tokyo, Japan. It was founded in 1875 and has since grown into one of the world’s largest manufacturers of electronics, semiconductors, home appliances, and infrastructure systems. The company has a diverse range of products and services, including laptops, televisions, air conditioners, refrigerators, washing machines, nuclear power plants, medical equipment, and industrial machinery.

In recent years, Toshiba has faced various challenges, including financial difficulties and corporate governance issues. This has led to restructuring efforts and strategic changes within the company, such as selling off certain business units and focusing on core areas.

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The employees, who occupied Google offices in Sunnyvale, California, and New York City, faced consequences for what Google deemed as a violation of company policies. The sit-ins disrupted regular operations, prompting Google to take action.

The company emphasised that obstructing coworkers’ work and impeding access to company facilities were clear violations of company policy, leading to the termination of the protesting employees.

During the protests, nine workers were arrested after they refused to leave the premises, with five arrests in Sunnyvale and four in New York. Charges ranged from criminal trespassing in New York to receiving citations for trespassing in Sunnyvale.

However, charges were yet to be filed, according to the district attorney’s office in Santa Clara County.

The company described the protests as “extremely disruptive,” emphasising that they had made coworkers feel threatened. Despite the disruptions caused by the protests, Google stated that it would thoroughly investigate the matter and take necessary action.

With a workforce of 1,82,502 employees as of 31 December, the termination of 28 employees marks a significant development within the tech giant. The incident underscores the challenges companies face when internal protests clash with business operations and partnerships.

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This doesn’t come as a surprise because in December 2023, Britain had announced plans to gradually increase the minimum salary criteria for family visas, aiming to provide stability for immigrant families. At the time, it was revealed that minimum salary for skilled work visas would be raised initially to £29,000, up from the current £18,600, and would gradually reach £38,700 without a specified timeline beyond spring. The objective is to reduce the number of legal migrants and also release some pressure off tax payers.

The present hike in the income benchmark of about 55 per cent is also quite significant. It is reported that almost 50 per cent of migrants from India to Britain earned less than £39,000 in 2022, as per data from the migration observatory of Oxford University.

While Indians account for a sizeable number of immigrants who do not belong to EU, most of them are students. Most others come from Nigeria and Zimbabwe.

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The Tripartite Alliance for Fair and Progressive Employment Practices, established by the Ministry of Manpower, the National Trades Union Congress and the Singapore National Employers Federation, unveiled these new guidelines on 16 April.

Additionally, employees will have the option to propose alternative arrangements, such as flexible work locations, by the year’s end.

While not legally binding, the guideline mandates that all Singaporean firms establish a formal process for employees to request flexible working arrangements. Employers may reject requests if they appear to be impairing productivity, leading to substantial costs, or seem mpractical given the nature of the job. However, refusal based solely on traditional practices or management preferences for inflexible work styles is prohibited.

Singapore’s move aligns with similar initiatives in countries such as Ireland and the UK, where businesses are compelled to consider flexible work requests. Despite a decline in remote work post pandemic, with employers eager to fill office spaces, maintaining flexible arrangements could benefit businesses.

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As per the report from the Hollywood Reporter, Iger explained that there has been a decrease in output, particularly within Marvel, as the studio grapples with challenges in film production. He outlined a three-pronged approach to address these issues.

Looking at the studio’s recent output, there were four films and five TV shows released in 2021. This was followed by a slight reduction in 2022, with three films, three TV shows, and some special releases. Moving into 2023, Marvel maintained a similar output with three films and three TV shows.

With only one film slated for release this year, Deadpool and Wolverine,” starring Ryan Reynolds and Hugh Jackman, set to premiere in July, Marvel’s cinematic calendar reflects a deliberate trimming down. Additionally, expectations are for the studio to unveil just two live-action shows in the current year. Clearly, Disney is emphasising quality over quantity, acknowledging the need to streamline content creation.

Furthermore, Iger emphasised the need to let go of projects lacking conviction while simultaneously investing in new ventures that instill confidence. This approach, he stated, is actively being pursued as part of the studio’s evolving creative strategy.

However, the company asserts that there are no further layoffs anticipated at this time. Marvel, renowned for its blockbuster Avengers franchise, is now recalibrating its lineup following a period of heightened production activity.

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These training programmes are about readiness and empowerment, ensuring that Ikea’s workforce is primed to lead confidently in the AI era. The curriculum is diverse, catering to employees at every level. From foundational courses such as AI Fundamentals, open to all, to specialised tracks such as Responsible AI and Mastering Gen AI, and specialised training in Algorithmic Ethics.

For leaders, bespoke programmes such as AI Exploration Days have been crafted to align AI strategies with Ikea’s business imperatives.

In addition to these efforts, Ikea is investing in programmes such as the Accelerator Programme, targeting tech enthusiasts with advanced degrees in fields such as Data Science, Machine Learning, or Large Language Models. The aim is to cultivate and attract the talent needed to drive critical roles within the organisation.

Parag Parekh, Ikea Retail’s chief digital officer (Ingka Group), emphasised the significance of this initiative, highlighting Ikea’s faith in its people to leverage technology for heightened creativity, efficiency, and results. He underscored Ikea’s vision of enhancing employee capabilities through technology, ensuring that the company remains a beacon of innovation and compassion.

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The new delivery centre will be offering an array of IT services to clients within Brazil and across the world in the areas of business transformation, AI and CBO and others. It will also contribute to the local economy in a big way.

The company has been operating in Brazil for over two decades now, with the oldest operations in Sao Paulo and Rio de Janeiro.

Carlos Massa Ratinho Junior, governor of the State of Parana, has been visiting India to seek partnerships in the areas of technology and innovation with various organisations and institutes. Rainho hopes to enter into collaborations that will help accelerate digitisation of services for the economy of Brazil.

Ratinho, along with Suresh Reddy, ambassador of India to Brazil, will be visiting various Indian cities such as Pune, Ahmedabad and Mumbai, to discuss prospects with various companies and organisations.

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With instability in weather predicted across the country, government employees have been directed to stay indoors. Many areas are already experiencing rainfall, with some places witnessing strong winds and heavy downpour.

Residents across the UAE, including Dubai, Abu Dhabi, and Sharjah have been told to prepare for lashing rains and even hailstorms in certain areas today. This weather is apparentl due to convective cloud formation. It is hoped that these clouds will grow over the next few hours causing heavy rainfall, especially along the coastal area.

People have been told to expect thunderclouds and very strong winds in some areas, which will make it difficult to drive and affect visibility. Therefore it is risky to be outdoors.

Abu Dhabi has been experiencing strong winds at the speed of 1000km/hr as part of the first wave.

The second wave will slowly move towards Abu Dhabi and impact the northern and eastern regions of the country over the next 24 hours.

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The reports suggest that the layoffs could be substantial, and may go as high as 20 per cent of the workforce. This move would impact tens of thousands of employees across various departments. The timing is significant, following internal issues and external challenges that have pressured Tesla in recent months.

Among the internal issues causing unrest is delayed performance reviews and price adjustments earlier this year, which reportedly displeased many workers. Additionally, Tesla’s recent quarterly performance, with a year-over-year reduction in deliveries below analyst expectations, has raised questions about its overall performance and direction.

Elon Musk’s comments on global economic concerns have further added to the uncertainty. His caution, along with rumors of layoffs, has heightened speculation about Tesla’s future trajectory. Investors are closely watching for official confirmation and assessing the potential impact on Tesla’s long-term viability and competitiveness in the electric vehicle market.

Recently, Tesla Power India announced its plan to hire more than 2000 employees for different roles as they expand in India. The Indian branch of Tesla Power USA LLC provides a range of maintenance-free batteries for two-wheelers, automobiles, UPS systems and inverters.

The company has also introduced ReStore, India’s inaugural refurbished battery brand, using electrochemical battery-enhancement process technology to prolong the lifespan of old lead-acid batteries.

By 2026, Tesla Power India aims to establish 5000 ReStore units, generating numerous job opportunities across engineering, operations, sales, marketing and support functions. This recruitment drive will provide valuable employment prospects for unemployed youth across the country.

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The collaboration plans to establish a groundbreaking semiconductor workforce- development initiative. This initiative will see Filipino students receiving training at American and Japanese universities, bolstering the semiconductor supply chains of all three nations.

Moreover, the three nations have announced a joint effort to enhance the Philippines’ technological landscape through substantial investments in Open Radio Access Network (RAN) field trials and the establishment of the Asia Open RAN Academy in Manila.

With a focus on fostering an open, secure and interoperable information communications technology ecosystem, this initiative seeks to pave the way for future commercial deployment and innovation in the Philippines.

Building upon previous investments exceeding $9 million, both the US and Japan have committed additional funding to further propel Open RAN technology in the Philippines. This includes serious consideration from the Japanese government for future investments, including through the Global South Future-Oriented Co-Creation Project.

The leaders lauded the Philippines’ commitment to pilot Open RAN in its national broadband programme and free Wi-Fi project, underscoring the nation’s dedication to fostering open and trusted architectures.

Looking ahead, the three countries anticipate deepening their collaboration through the inaugural trilateral Cyber and Digital Dialogue later this year.

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The stock has grown, thanks to the demand for artificial intelligence (AI). With the demand for Nvidia’s chips surging, the company that works in the area of AI and digital twins to transform the industries of the world, has become the first chip manufacturer to touch a market cap of $2 trillion. It clearly believes in sharing its good fortune with its employees, and is therefore granting its staff a stock boost. It is reported that the company’s revenues in the fourth quarter, in February, were $22 billion, that is, 270 per cent more than the revenues during the same time last year.

As per a report by Business Insider, employees were informed of the grant of additional restricted stock units (RSUs) during their yearly performance reviews earlier this month.

The number of RSUs being granted to each employee will be determined by the share price of the firm. In March, the price closed on an average of about $898. This special grant will vest in equal instalments over a four-year period. The first portion will reportedly vest in September.

Many of the new joinees who have become part of the organisation recently were reportedly granted stock options worth $2,00,000. They will now receive $50,000 additional RSUs. That is not all. The company grants employees annual equity refreshers basis individual performance.

The company is reportedly granting these stocks so that even if the share prices fall at some point in the future, the employees will stand to gain.

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Yu Donglai, founder and chairman, Pang Dong Lai, a retail chain based in Central China’s Henan province, unveiled this initiative during China Supermarket Week 2024 in late March. Under this scheme, employees are empowered to request an additional 10 days of leave at their discretion.

At the heart of this initiative lies the company’s belief in granting every individual the freedom to navigate their own happiness. The core essence is to enable employees to proactively choose their moments of rest and ensure they are able to rejuvenate outside the confines of work.

This innovative concept of unhappy leave has garnered significant traction on social- media platforms across mainland China. Praise and admiration for Donglai progressive approach and the company’s culture have flooded platforms such as Weibo, a Chinese social platform.

In addition to promoting the concept of unhappy leave, the company, under the leadership of Donglai, has championed a series of employee-centric policies aimed at fostering a healthier work environment. It’s employment framework advocates a seven-hour workday, weekends off, and an annual leave entitlement ranging from 30 to 40 days, inclusive of five days during the Lunar New Year festivities.

With an average monthly salary of 7,000 yuan, significantly higher than the national average for retail employees, the company has set a precedent for equitable remuneration within the industry. Moreover, it has implemented a comprehensive certification system for various professions, underscoring its dedication to professional development and employee empowerment.

At the core of Pang Dong Lai’s ethos lies the mantra of “freedom and love”, reflecting Donglai’s commitment to prioritising the well-being of his workforce. Looking ahead, the company envisions a future where the success of his company is intertwined with the holistic well-being of its employees.

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The latest offer, priced at $170.81 per share, allows non-US employees to sell half of their vested stock units, with provisions for additional sales after a year. Share awards in lieu of cash bonuses become eligible for sale one year after vesting, according to the documents. Addressing a global audience of staff, ByteDance, acknowledged the need of some employees to address their cash and liquidity requirements through this offering.

This move follows ByteDance’s previous offer to purchase global employee shares at $160 each in December. The latest documents indicate that shares vested in the first quarter of this year are valued at $176, hinting at a potential increase in ByteDance’s internal valuation since the beginning of the year, albeit without factoring in share dilution, as reported by Financial Times.

With about 20 per cent of the company’s stock owned by employees globally, ByteDance counts around 1,00,000 employees outside the US.

However, the lack of liquidity for ByteDance’s employee shareholders has drawn criticism. Some have described the buyback programme as shrouded in ambiguity, leaving managers uncertain in advising their teams.

Despite uncertainties surrounding TikTok’s future in the US, ByteDance’s valuation has surged from $100 billion in 2020 to $268 billion by December 2023.

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Initially, TikTok attributed the job losses to a “redesign” of its training and quality team, aimed at improving quality- assurance processes. The company stressed the importance of supporting affected employees during this transition, underlining Ireland’s significance as a base for its operations and ongoing hiring efforts.

However, despite TikTok’s assurances, several impacted employees have voiced dissatisfaction with the way the layoffs were executed. Some have criticised the criteria used for redundancies, particularly highlighting the introduction of a policy-proficiency test last November. This test, initially unrelated to the restructuring, later became a determining factor in identifying employees for redundancy.

Employees received their test results just before the redundancy process commenced, with limited opportunities for review. Many felt blindsided by the test’s significance, expressing regret for not studying more intensively as they had not known its impact.

TikTok responded to staff concerns, explaining that the test served as the best gauge of policy proficiency and was conducted across a large population of the company’s EMEA operations. However, this explanation did little to assuage employee frustrations, with some deeming the handling of the situation insensitive.

Additionally, reports emerged of celebratory events taking place within TikTok’s offices on days coinciding with significant announcements about layoffs and redundancy packages. Employees expressed dismay at the apparent lack of sensitivity, with festivities seemingly contrasting with the reality of impending job losses.

In response to these criticisms, TikTok acknowledged that while there were no company-wide events, office space was booked for team-building gatherings on certain dates, creating an atmosphere that some found inappropriate given the circumstances.

Overall, TikTok’s handling of the layoffs has sparked significant backlash, with employees expressing frustration over perceived insensitivity and lack of communication.

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The European headquarters will bid farewell to 42 employees out of its approximately 250-strong workforce. The retail staff, however, will remain unaffected by the restructuring.

According to a staff member, the initial phase of the Renault Act procedure—a Belgian labour law governing mass layoffs—has already been executed last week.

These developments coincide with Levi’s release of its first quarterly results for the year, wherein the fashion giant reported a decrease in sales and incurred a net loss during the period. The company attributes these setbacks to operational changes, resulting in a net loss of $11 million.

Levi Strauss is an American clothing company famous around the world for its Levi’s brand of jeans made from denim. The company, which had over 19,000 employees as of November, anticipates restructuring charges of $110 to $120 million in the first quarter.
This move follows a trend of early-year layoffs in the retail industry, with companies such as Macy’s and Wayfair also announcing job cuts recently.

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About 3,000 members of the development division are presently working out of Switzerland, while 2,000 are based out of the US.

These layoffs are in addition to the restructuring exercise at the Basel-based firm, which is expected to see the 78,000-strong workforce being reduced by about 8,000.

In February 2022, Novartis India (NIL) had entered into a sales and distribution agreement with Dr Reddy’s Laboratories for a select range of medicines. Post this development, it had found that certain roles had been rendered redundant, or existed in surplus. Therefore, the company had announced its intentions to let go about 400 of NIL employees.

Novartis India, which is the Indian arm of the Switzerland-based healthcare company, had ended up spending about Rs 75 crore in costs and ex-gratia compensation under the employee separation scheme (ESS). In addition to the severance package, the Company had offered to help the affected employees with outplacement services.

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As per a Moneycontrol report, the Tata Group is looking for Taiwanese professionals— including equipment engineers, yield engineers and automation engineers—with at least five years of experience. Candidates with up to 16 years of working experience in various roles in this field will also be picked up. Tata Electronics will also be hiring electric and mechanical troubleshooters, for which technicians with diplomas will also be considered.

After training for 18 months in Taiwan, the selected candidates from the country would be expected to move to India, where Tata Electronics has already started work on setting up a Rs 91,000-crore semiconductor manufacturing plant in Dholera, Gujarat. This plant will be a source of livelihood for thousands, with about 20,000 workers likely to be employed directly and indirectly. A greenfield semiconductor assembling and testing plant is also being set up in Jagiroad, Assam, at a cost of about Rs 27,000 crore.

It is pertinent to mention here that Hsinchu is a county known for the large number of plants manufacturing chips and semiconductors. Some of the known names in the field are, Epista, United Microelectronics Corporation, Taiwan Semiconductor Manufacturing Company and Powerchip Semiconductor Manufacturing Corporation (PSMC).

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This outcome surpasses the central bank’s forecast of 4.9 per cent annual wage growth and is likely to push back anticipated reductions in Norway’s current 4.5 per cent policy rate, initially expected for autumn 2024. Economists at Danske Bank believe this wage deal might even delay rate cuts further.

Union gains and training reform

Fellesforbundet hailed the settlement as a ‘big victory’ for workers. Jørn Eggum, the union leader, highlighted the agreement’s focus on purchasing power, with the raise exceeding the projected 4.1 per cent inflation rate. Notably, the deal includes a higher central supplement for all workers, an additional increase for low-wage earners (below NOK 450,000 annually), and a significant boost for offshore workers.

Beyond salary increases, Fellesforbundet secured a landmark reform for continuing education. The agreement calls for government involvement in establishing a system that equips workers with the skills needed for the ongoing ‘green shift’, technological advancements, and maintaining industrial competitiveness. Eggum called this reform ‘historic’ and emphasised the right to paid leave for educational pursuits.

Executive excess and union leverage

This wage settlement comes amidst heightened tensions between labour unions and employers. Recent years have seen rising executive pay packages at Norway’s top companies, including state-owned giants such as Equinor and DNB. These hefty compensations, coupled with controversies like the one surrounding Norsk Industri’s former leader’s lavish hunting trips, have fuelled union demands for fairer pay distribution.

Steinar Krogstad, deputy leader of the Norwegian Confederation of Trade Unions (LO), criticised the ‘perverse’ trend of skyrocketing executive pay, highlighting how it undermines the ‘Norwegian model’ built on wage equality and mutual trust between leadership and workers.

National repercussions

The Fellesforbundet-Norsk Industri agreement serves as a crucial benchmark for wage negotiations across other sectors in Norway. Avoiding a major strike and securing significant pay increases are likely to embolden other unions in their upcoming negotiations, particularly public sector unions such as Fagforbundet.

Furthermore, the higher-than-expected wage hike raises concerns about inflationary pressures. Banks now anticipate a delay in the central bank’s ability to cut interest rates, a move intended to curb inflation.

This wage settlement underscores the evolving dynamic between workers and employers in Norway. While securing higher pay and worker training opportunities, unions aim to address widening pay gaps and perceived corporate excesses. The government’s involvement in education reform underscores the broader societal implications of this agreement. The ultimate impact on inflation and the central bank’s monetary policy remains to be seen.

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The Bank does not encourage such relationships because they may result in bias or partiality during promotions and increments, which is what happened in this case with the other employee involved in the relationship.

However, it has been proved that neither Ahn nor her close associate mishandled the finances of the Bank or tampered with the financial statements in any way. They have been cleared of any behaviour that could have affected the financial institution’s performance, in terms of business or finances.

It is pertinent to mention here that Ahn was the first woman CFO among the major six Canadian banks. Her association with RBC began in 2002, when she joined as senior manager, funds transfer pricing, corporate treasury, based out of Toronto. Her first promotion came four years later, when she became senior manager, ALM, corporate treasury, in 2007.

Two years into this role, she had become the managing director and head of enterprise liquidity risk measurement, corporate treasury. Four years into this role, she was elevated yet again, to the position of vice president, global financial controller. Two years later, in 2016, she became senior vice president, wholesale finance and investor relations. It was in 2021 that she was promoted to CFO.

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The survey disclosed that 53 per cent of companies are looking to raise employee salaries in 2024. Among these, 39 per cent are planning increases of up to five per cent, around one in ten anticipate raises between 6 to 9 per cent, and five per cent are gearing up for increases of 10 per cent or more.

For many individuals, particularly those belonging to mid-to-low income brackets, the idea of receiving a raise feels like an elusive aspiration, as reported by the Khaleej Times. Reportedly, some haven’t experienced a salary increase in as long as seven years, compelling them to make the tough choice of sending their families back home in order to manage their finances.

Adding to the burden, rising fuel expenses and a general increase in living costs have impacted.

Despite hopes pinned on annual salary increments, many expatriates find themselves grappling with stagnant incomes and an ever-increasing cost of living, forcing them to make difficult decisions regarding their families and future plans.

Recently, Saudi Arabia has introduced significant reforms to its domestic worker sponsorship system, aiming to improve the contractual relationship between employers and employees. This move is said to address a longstanding challenge in the Gulf job market.

The reforms, spearheaded by the Ministry of Human Resources, prioritises the rights of both parties. Notably, out-of-work domestic workers will now benefit from a two-month grace period to exit the country or secure employment with a new sponsor. This applies to all domestic worker categories adhering to the prescribed regulations.

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The revised programme introduces stricter requirements for low-skilled job seekers. Applicants must now demonstrate English language proficiency and meet minimum skills and work experience thresholds. Additionally, the maximum continuous stay for most low-skilled roles has been reduced from five to three years.

“The Government is focused on attracting and retaining the highly skilled migrants such as secondary teachers, where there is a skill shortage,” said Immigration Minister Erica Stanford. “At the same time, we need to ensure that New Zealanders are put first for jobs where there are no skills shortages,” she added.

These changes come in the wake of near-record migration figures in 2023, with nearly 173,000 individuals settling in New Zealand. This rapid influx has raised concerns about its impact on inflation and core infrastructure, such as schools and housing.

Stanford emphasised the need for a balanced approach. “It is important that the AEWV settings facilitate the right mix of skilled temporary migrants to address genuine skill and labour shortages, support economic recovery, and manage pressures on infrastructure,” she stated.

Neighbouring Australia has also witnessed a substantial rise in migration and has announced plans to halve its intake over the next two years. New Zealand’s revised immigration program reflects a similar intent to prioritize its domestic workforce while strategically attracting talent to address critical skill shortages.

By implementing stricter requirements for low-skilled roles and prioritising high-demand skillsets, New Zealand aims to achieve a more sustainable and targeted migration strategy.

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The reforms, spearheaded by the Ministry of Human Resources, prioritise the rights of both parties. Notably, out-of-work domestic workers will now benefit from a two-month grace period to exit the country or secure employment with a new sponsor. This applies to all domestic worker categories adhering to the prescribed regulations.

The reforms establish clearer guidelines for contract termination. If an employer terminates a contract within the first two years of the worker’s arrival, the worker must leave within 60 days on a final exit visa. Failure to comply will result in a violation of Saudi residency and employment laws.

However, if the domestic worker terminates the contract due to their own absence from work after two years in the country, they are offered greater flexibility.  They can choose to depart on a final exit visa or transition to a new employer within the same 60-day timeframe.

The reforms are expected to be implemented within the next four months. Domestic workers in Saudi Arabia encompass a broad range of roles, including household workers, drivers, cleaners, cooks, security guards, farmers, home nurses, tutors, and nannies.

Furthermore, the reforms mandate the use of Musaned, the government’s official recruitment platform, for all domestic worker contracts. This streamlines the process and enhances transparency within the system.

These reforms signal Saudi Arabia’s commitment to improving the working conditions for domestic workers within its borders. The two-month grace period and increased flexibility in contract termination offer greater security and autonomy for migrant employees.

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With annualised rates plunging to as low as 1.6 per cent—a significant drop from the standard 3.0 per cent rate will be extended to external customers as well.

To seize this offer, employees simply need to place an order for the SU7 through the Xiaomi Auto App and await contact from a delivery specialist to proceed with the financing application. During this process, they can opt for the exclusive “Employee 1.6 per cent” plan and submit their application conveniently.

Furthermore, employees will have the flexibility to make a down payment as low as 15 per cent and extend the loan period for up to 60 months.

Xiaomi is known for its interesting employee- engagement practices. Sometime back, to reduce the hassle of renting houses at high costs, Xiaomi established Mi Apartment (Beijing) Commercial Operation Management at a registered capital of about 700 million yuan or $108 million.

The apartments were meant for Xiaomi employees, especially freshers, who find it difficult to afford expensive flats. This was a step towards ensuring employee happiness.

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