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7th May 2021

THE HOT STORY

Commerzbank job cut deal expected to be signed today

A deal with labour representatives that is expected to be signed today will pave the way for Commerzbank to cut 10,000 jobs globally, according to people with knowledge of the matter. The agreement, which is key to CEO Manfred Knof’s plan to streamline Germany’s second-biggest listed lender and return it to profitability, includes early retirement and reduced hours for older employees, and also details on severance packages and retraining programs for employees.

Reuters

WORKFORCE

Pandemic creates jobs risk for working women

Analysis by the Trades Union Congress (TUC) shows that working women in the UK are facing a significant risk in the labour market, with far greater numbers of female staff being made redundant as a result of the pandemic than during previous recessions, including the 2007 financial crisis. Female redundancies in the UK hit 178,000 between September and November 2020, with this 76% higher than the peak reached during the height of the financial crisis when female redundancy levels hit 100,000. The TUC report shows that 217,000 men were made redundant over the same period last year - just 3% up on job losses amid the financial crisis. TUC general secretary Frances O’Grady said: “Women are more likely to be on furlough than men and to work in sectors hit hardest by Covid, like retail and hospitality,” and noted that women also bore the brunt of childcare while schools and nurseries were closed. “Without ongoing support from ministers, many more women face losing their jobs,” she added.

The Guardian

Transport staff in Athens strike over labour reform

Greek transport workers yesterday took part in a 24-hour public sector strike to protest against planned labour legislation. Local trade unions say they oppose the government’s proposed reform because it restricts worker rights at a time when job losses are at a heightened risk due to the pandemic. The government says the changes would give workers more flexibility. “(The bill) constitutes ... a direct attack on employees and their rights ... at a time when the country is in a deep health and economic crisis largely due to the choices of the government,” Greece’s main civil servants union ADEDY said in a statement.

Reuters

France grants citizenship to over 2k foreign workers for pandemic response

Marlene Schiappa, France’s junior interior minister in charge of citizenship, has said that 2,009 people are being granted citizenship for "showing their attachment to the nation" in the fight against Covid-19. Schiappa told authorities last year to accelerate the citizenship applications of essential workers, including health workers, security guards, checkout workers, garbage collectors, home care providers and nannies, who had "actively contributed" to the pandemic response. She ordered that such individuals should be allowed to apply for citizenship after just two years in France, instead of the usual requirement of five years.

France 24

TRAINING & DEVELOPMENT

E-cars could cost 100k jobs in Germany’s car industry

A survey for Germany’s Ifo Institute suggests the boom in electric cars will lead to 100,000 job losses in Germany’s auto industry if companies don’t bolster efforts to re-skill workers. The shift towards e-mobility means that companies must now address the risk of occupational mismatch and re-train employees, the Ifo institute said.

Reuters

REMOTE WORKING

Google says a fifth of workers will be remote workers

Google expects about 20% of its staff to work remotely after the company's offices reopen this fall, and some 60% will work a hybrid schedule that includes about three days in the office and two days “wherever they work best.” The remaining 20% of workers can change their location to a different Google office. “The future of work is flexibility,” CEO Sundar Pichai wrote in an email to employees that outlined a policy that relaxed the company's stricter earlier stance. “The changes . . . are a starting point to help us do our very best work and have fun doing it.” Employees will - for up to 20 days per year - also be able to work from any location other than their main office. The previous such allotment was 10 days. The company will also continue to offer workers extra “reset” days — days off to help them cope with the impact of the pandemic.

U.S. News

RISK

New Danish law will screen foreign investments for security risks

Denmark has passed a law to allow the screening of future foreign investments for national security risks. The new legislation was developed in part following security concerns over a bid by China's Huawei to build Denmark's 5G network. Screening under the law, which does not mention China, will take place for investments into defence, information technology and critical infrastructure. "The purpose of this Act is to prevent that outside foreign direct investment and special economic agreements may pose a threat to national security or public order in Denmark, through screening and potential interference with such investments and agreements," the legislation says, adding "Foreign investors would be assessed on their potential link to foreign governments, armed forces or other state entities as well as any connection to criminal activities."

Copenhagen Post

INTERNATIONAL

What the end of the Gates marriage means for foundation staff members

The New York Times looks at what the divorce of Bill and Melinda Gates means for the Gates Foundation and the 1,600 staff members who direct $5bn in annual grants to 135 countries. In an email on Monday, Gates Foundation CEO Mark Suzman reassured staff that both Mr. and Ms. Gates remained committed to the organization, saying that “Bill and Melinda asked me explicitly to express their deep gratitude for everything you do every day, particularly during the Covid-19 crisis, as well as for your support and understanding in this difficult time.” The foundation's $50bn endowment is in a charitable trust that is irrevocable. Megan Tompkins-Stange, a professor of public policy and scholar of philanthropy at the University of Michigan, said it cannot be removed or divided up as a marital asset, although there was no legal mandate that would prevent them from changing course. “I think there may be changes to come,” she observed. “But I don't see it as a big asteroid landing on the field of philanthropy as some of the hyperbole around this has indicated.”

New York Times

Remote working can transform disabled people’s job prospects

A report from PwC Middle East urges organisations in the region to capitalise on the growing popularity of remote working, and transform the employment prospects of people with disabilities. The firm’s Remote-Ability report identifies barriers to the effective participation of disabled people and offers suggestions to support their inclusion in the local labour market. The most recent data indicate that the share of people with disabilities across GCC countries ranges from 4.37% of the population in Saudi Arabia to between 1% and 3% of the population in other member states. Randa Bahsoun, Partner at PwC Middle East, said: “Data drives every forward-thinking diversity strategy. We need to understand where we are as a region before taking the next steps. GCC countries are well placed to leverage technology in order to transform their labour market while increasing access for [people with disabilities] and acting as models of best practice for other governments. For this approach to be successful, GCC leaders, policymakers, educators and stakeholders from the public, private and non-profit sectors should collaborate to institutionalise an inclusive ecosystem for people with disabilities, where they can be active and productive whilst ensuring their voices are heard along the way.”

The Peninsula

Singapore needs foreign tech talent

The head of Singapore’s central bank says the country needs foreign tech talent to stave off a crisis. Ravi Menon said that if the inflow of foreign labour is tightened excessively, “it will impair not just the competitiveness of our financial centre but dampen the prospects for creating good jobs in the future, especially for Singaporeans . . . The answer does not lie in restricting the inflow of foreign tech expertise. On the contrary, it is by attracting the best tech talents from around the world that we can anchor new tech capabilities and functions that expand job opportunities for Singaporeans.” A lack of local skills means Singaporeans make up just a third of the financial sector’s tech workforce, notes ITPro.

ITPro

OTHER

Popularity in class linked to age

Researchers have found that school pupils are considered more popular the older they are in relation to their classmates. The study, which surveyed more than 13,000 teenagers aged 14-15 in England, Sweden and the Netherlands, found that relative age related to primary school cut-off date for school enrolment was strongly associated with popularity in England. The link was even sharper in the Netherlands, where underperforming students are required to repeat a school year. Co-author Frank van Tubergen, from Utrecht University, said: "So, in England, if you're born in an unlucky month, it will be so for the rest of your educational career, whereas in the Netherlands, the system of grade retention and skipping classes creates over-time changes in class composition, which makes current age more salient/relevant than past relative age."

The Guardian

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