Human Times

North American Edition

8th August 2025

THE HOT STORY

More firms are merging HR and IT departments

Nearly two-thirds (64%) of senior IT decision makers at large companies expect their HR and IT functions to merge within five years, according to a survey by Nexthink, a firm that makes workplace software. Tracey Franklin, the chief people and digital technology officer at biotechnology company Moderna, says her role is being an architect of how work is done. She explains: "I am responsible for the entire HR function and the entire IT function . . . It's [about] how work flows through the organization, and what should be done with technology – whether that's hardware or software or AI – and where you complement human skills around that." Meanwhile, software company Covisian merged its IT and HR teams in 2023 under the leadership of Fabio Sattolo, chief people and technology officer. He was previously CTO. "If we bring [IT and people] together, we can have a common vision for how technology can have an impact on people and how people can adapt and evolve to leverage the new technology," Sattolo says.

BBC News

WORKFORCE

President Trump opens U.S. 401Ks to crypto and private equity investments

President Donald Trump has signed an executive order allowing alternative assets such as private equity, cryptocurrencies and real estate into 401(k)s. A senior White House official said the EO will direct the U.S. Secretary of Labor to review fiduciary guidance on private market investments in 401(k) and other defined-contribution plans that are governed by the Employee Retirement Income Security Act of 1974 (ERISA). While there is no law prohibiting plan sponsors from offering private market investments to employees, they have traditionally steered clear of them because they have a fiduciary duty to provide a menu of prudent, reasonably priced investments to plan participants. The president’s executive order won’t change policy, but it will clarify his position to the rest of the government, Jaret Seiberg, a financial services policy analyst at TD Cowen Washington Research Group, said in a research note. “It will still require the agencies to craft new rules. That could take into 2026,” he added.

CNN

CNBC

Financial Times

Jobless claims inch up as worker productivity rebounds

The Labor Department reported Thursday that new jobless claims rose 7,000 in the seven days to August 2nd to 226,000, ahead of the 221,000 expected among economists polled by Reuters. The four-week moving average fell by 500 to 220,570, while the total number of Americans collecting unemployment benefits, reported with a one-week lag, grew by 38,000 to 1.97m, the highest since November 2021. A separate report from the Labor Department found that worker productivity rebounded in the second quarter, increasing at an annualized 2.4% rate after dropping by a revised 1.8% in the first quarter. Unit labor costs, or what businesses pay employees to produce one unit of output, rose 1.6%. Hourly compensation, unadjusted for inflation, increased an annualized 4%.

IRS cuts hit hard in Covington, Kentucky

The IRS has eliminated 750 jobs in Covington, Kentucky, precipitating significant revenue losses for the city. Covington's mayor, Ron Washington, said: "While the IRS layoffs pose a fiscal challenge to the City's budget . . . the City is pursuing a robust plan for continued growth and stability." The job cuts, part of a broader initiative by the Trump administration, represent nearly 5% of the city's total employment and are projected to cost Covington $1.5m in lost payroll tax revenue. The city plans to use American Rescue Plan Act funds to mitigate the impact, but these funds are temporary. Washington has actively sought to preserve federal jobs, meeting with congressional leaders to address the economic consequences of the cuts.

Cincinnati Enquirer

HIRING

Trump offers $50,000 bonuses in ICE hiring push

The Trump administration is launching an extensive recruitment campaign for Immigration and Customs Enforcement (ICE), offering signing bonuses of up to $50,000 and waiving age limits to attract new officers. The initiative is part of a broader $150bn border-security package aimed at increasing deportations. Over 80,000 individuals have applied since the campaign began, which features military-style messaging and incentives for retired employees to return. Homeland Security Secretary Kristi Noem observed: “Retired agents want to come back and help.” However, concerns have arisen regarding the portrayal of immigrants and the ability to attract qualified candidates amid public disapproval of the administration's immigration policies. John Sandweg, former acting director of ICE, expressed skepticism about the campaign's effectiveness, noting the polarizing nature of the agency.

Chicago Tribune

NPR / National Public Radio

Mounting battle for private equity talent in Asia

A recent dispute between U.S. lenders and private equity firms over the poaching of junior analysts from banks has brought renewed focus to an ongoing practice, Business Times reports. Citigroup, JPMorgan Chase and Goldman Sachs recently told their newly hired investment banking analysts to disclose if they had already accepted job offers from elsewhere. Investment banks could provide a good place for PE firms to hire because “The bigger [PE firms] don't have the time to train people,” said an executive from one big U.S.-listed firm.

Business Times SG

TECHNOLOGY

Google to spend $1bn on AI training scheme

Google has announced a $1bn investment over three years to provide artificial intelligence training and resources to U.S. universities and nonprofits. Over 100 institutions are already participating. Senior Vice President James Manyika said: "We're hoping to learn together with these institutions about how best to use these tools." The initiative aims to address concerns surrounding AI's role in education.

Reuters

TAX

Republicans consider new tax bracket for millionaires

Republicans are contemplating a new top tax rate of 39% to 40% for individuals earning $1m or more. This potential tax hike marks a significant shift for the GOP, which has traditionally opposed tax increases. House Freedom Caucus Chairman Andy Harris said: “You are only raising it a couple of points,” referring to the current top rate of 37% for those earning over $626,350. A Pew Research Center poll indicates that 58% of Americans support raising taxes on households earning over $400,000. As Republicans explore various tax cuts, they face the challenge of balancing fiscal constraints, which may necessitate spending reductions or tax increases to fund their priorities. The House may soon vote on a budget resolution to facilitate a tax cut bill.

CPA Practice Advisor

INTERNATIONAL

U.K. staff quit over office working demands

A number of workers in the U.K. are opting to resign instead of returning to the office as companies enforce stricter in-person attendance. According to a survey of 583 businesses by the British Chambers of Commerce (BCC), 10% of firms said staff have left over policies mandating a return to the office. Over 40% of firms have increased office attendance requirements, with nearly half expecting full-time office work within a year. Jane Gratton, the BCC's director of public policy, said: "With the cost of doing business continuing to escalate, firms are looking to boost productivity . . . Hybrid working has become a fixture of modern working life since the pandemic and is valued by employers and their workforce. But it does not suit everyone and, for some firms, a full on-site model may be the best solution for the business.”

Financial Times

The Daily Telegraph

The Times

UAE employees willing to 'take pay cuts for AI skills'

More than two-thirds of professionals in the UAE (67%) and Saudi Arabia (70%) are willing to accept lower salaries in exchange for acquiring valuable AI skills, compared to just 41% globally, according to a report by Oliver Wyman. Jad Haddad, Global Head of Quotient – AI at Oliver Wyman, observed: “Their willingness to trade immediate earnings for AI skills shows strategic foresight, not sacrifice,” adding: “Companies that match this enthusiasm with robust training and trustworthy internal tools can convert it into productivity and growth." Haddad went on to say: “AI adoption is already underway, and employees in the UAE and Saudi Arabia are effectively co-investing in their own future . . . This investment mindset reflects the deeper workforce transformation already happening."

Khaleej Times Online

Thailand's human capital development 'faces challenges'

The Office of the National Economic and Social Development Council (NESDC) and UNICEF have released a report highlighting critical gaps in Thailand's human capital development. The report, titled Human Capital Development in Thailand: An Examination of Gaps, Bottlenecks, and Policy Options, reveals that many children lack essential skills and health. Kyungsun Kim, UNICEF Representative for Thailand, said: "Thailand stands at a pivotal moment in addressing long-term challenges." Key issues include malnutrition, low educational quality, and a mismatch between education and employment. The report calls for urgent policy action to invest in youth and address these challenges.

The Nation

OTHER

India dismisses call to change ‘GAY’ airport code

India’s civil aviation ministry has dismissed calls to change the “GAY” code for Gaya International Airport after Bhim Singh, a member of the ruling Bharatiya Janata Party, deemed it “offensive.” The ministry said such International Air Transport Association (IATA) codes are permanent and can only be altered for aviation safety reasons. Singh had told the upper house of India’s parliament that the word “gay” was “socially and culturally offensive and uncomfortable,” particularly for a religious destination such as the city of Gaya.

South China Morning Post

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