THE HOT STORY

Businesses brace for staff cuts

Chancellor Rachel Reeves's £25bn payroll tax and minimum wage increases have led to the longest staff reduction streak in four years, according to the latest Bank of England data. Companies plan to cut staff by an average of 0.4% over the next year, down from 0.6% in the previous month. This marks the fourth consecutive month of intended layoffs, the longest since 2021. Separately, the Bank said that 42% of companies would fire employees and 38% would lift prices in response to the increase in NICs. The Chancellor is expected to announce further tax increases on November 26.

The Times

WORKFORCE

Journalists at The Mirror ready to strike

Journalists at The Mirror are preparing to strike due to concerns over job cuts linked to artificial intelligence (AI). The National Union of Journalists (NUJ) is currently balloting its members for industrial action after publisher Reach announced plans to make 321 roles redundant, including 186 in editorial. The total number of roles at risk is around 600.

The Daily Telegraph

STRATEGY

Sky reports profit ahead of more job cuts

Sky has reported a pre-tax profit of £253m for the financial year 2024, recovering from a £773m loss in 2023. Revenue increased slightly from £10.2bn to £10.3bn, driven by a rise in direct-to-consumer revenue. However, advertising revenue fell from £1.2bn to £1.1bn. The company plans to cut around 900 jobs in the UK, following a previous reduction of 3,000 roles since 2023.

City AM

Wagamama owner cuts 2,000 jobs

The Restaurant Group, the owner of Wagamama, has reported a pre-tax loss of £32.2m for 2024, up from a £19.6m loss in 2023. The company reduced its workforce from 17,542 to 15,468 over the year. Despite the losses, revenue rose from £824m to £868.1m. The board noted easing food inflation but highlighted ongoing wage cost pressures due to the National Minimum Wage increase. Wagamama opened ten new locations in 2024 and plans six more this year.

City AM

CYBERSECURITY

Google executives targeted by hackers

Google has reported that hackers have sent extortion emails to an unspecified number of executives, claiming to have stolen sensitive data from their Oracle business applications. The emails are said to be linked to a group associated with the ransomware gang cl0p, although Google said it "does not currently have sufficient evidence to definitively assess the veracity of these claims." The tech giant described the email campaign as "high-volume" but did not provide further details on the situation.

Reuters

INTERNATIONAL

White House warns layoffs are imminent if shutdown continues

White House spokeswoman Karoline Leavitt has said federal workers could start losing their jobs imminently as the US government shutdown continues. "The president has directed his Cabinet and the Office of Management and Budget is working with agencies across the board to identify where cuts can be made and we believe that layoffs are imminent," Leavitt said. Vice President JD Vance nevertheless insisted no final decisions have been made about whether certain workers will be laid off or furloughed, although he acknowledged the situation could escalate quickly into layoffs if the shutdown drags on.

Reuters

USA Today

Korea weighs four-and-a-half-day workweek

South Korea is exploring a four-and-a-half-day workweek to adapt to the era of artificial intelligence. A task force, co-chaired by Bae Kyu-sik and Kim Yu-jin, aims to create a roadmap for this change within three months. The government says it is seeking voluntary adoption of shorter hours through dialogue rather than legislation. Concerns about productivity and costs have emerged, with business groups warning that reduced hours could harm competitiveness. “Reducing actual working hours does not happen overnight by force," Labour Minister Kim Young-hoon said at the launch of the task force. "Labour and management must take the lead in finding solutions, and the government will actively support them," he added. Kim Yu-jin said the review will cover policies on annual leave, overtime and a shorter workweek, observing that “since labour and management hold different views, the road map will need to address what pace and sequence of reforms can lead to real reductions in working hours.”

Korea Joongang Daily

Ford to retrench workers in South Africa

Ford Motor's South African unit has attributed the planned retrenchment of 474 workers to lower European orders for its Ranger pickup truck, precipitated by recent UK tax changes and slow export volumes for its plug-in hybrid Ranger model. Reuters notes that in the UK, from the start of April 2025, double-cab pickups with a payload of one tonne or more have been reclassified as passenger cars rather than commercial vans for tax purposes, making them more expensive to own. "As a consequence of that, people have unfortunately reduced their volume. So that's had a big impact in terms of our European orders," explained Neale Hill, President of Ford Motor Company Africa.

Reuters

‘Singaporeans-first assurance' needed after population report

Singapore's population reached 6.11m in June, growing by 1.2% over the past year, driven by an influx of foreign workers. Analysts have highlighted the need for effective urban planning and frameworks to prevent discrimination against local people. Meanwhile, Mathew Mathews, head of the Institute of Policy Studies Social Lab, noted the importance of integrating newcomers into local culture. As such, the Ministry of Manpower is piloting a cultural orientation programme for work pass holders. Sociologist Tan Ern Ser observes that anxiety over immigration could lead to social tension, and urges the government to ensure public services meet the needs of the growing population.

South China Morning Post

OTHER

Ofsted chief ‘really shocked' by school tech demands

Ofsted chief inspector Sir Martyn Oliver has criticised schools that require parents to buy technology for their children. A Parentkind annual national parent survey, published last week, found that four in 10 pupils are required by their school to have a laptop or tablet. Oliver told a Parentkind event last week that he was “really shocked” by the findings. “You cannot and must not expect, as a headteacher, to ask for additional resource of parents to buy something to deliver the state's free education system. And that is guidance that all headteachers are well aware of . . . schools have a duty to make sure that's entirely accessible.”

Schools Week

The Human Times is designed to help you stay ahead, spark ideas and support innovation, learning and development in your organisation.

The links under articles indicate original news sources. Some links lead directly to the source material. Others lead to paywalls where you may need a subscription. A third category are restricted by copyright rules.

For reaction and insights on any stories covered in the Human Times, join the discussion by becoming a member of our LinkedIn Group or Business Page, or follow us on X.

Online

Advertise

This e-mail has been sent to [[EMAIL_TO]]

Click here to unsubscribe