Human Times

European Edition

19th May 2026

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THE HOT STORY

France wants Stellantis and Renault to favour local parts suppliers

Stellantis and Renault are being called on by the French government to favour local parts suppliers to protect jobs and retain expertise in the region amid deepening ties at Europe’s automakers with manufacturers from China. The two carmakers “must play their part on European preference, including in terms of purchases with their suppliers,” French Finance Minister Roland Lescure said. “Industrial sovereignty must be a collective battle,” he added. Meanwhile, in a separate interview, Lescure said he is optimistic that the green transition will continue to create jobs for workers in France. “Plants are reopening in France . . . Not at the pace we’d like maybe, but they are reopening.”

Bloomberg

TECH & TOOLS

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STRATEGY

Ikea franchiser cuts 850 jobs amid weaker consumer spending

Inter Ikea has announced plans to cut 850 jobs, representing around 3% of its workforce, as the global Ikea franchiser seeks to reduce costs and lower prices amid falling consumer demand and rising operating pressures. The company said weaker consumer confidence, exacerbated by the Iran conflict and higher fuel costs, has reduced discretionary spending on home furnishings, while tariffs and inflation have also increased costs. Inter Ikea, which franchises the Ikea brand across 63 countries, is also continuing its strategic shift away from large suburban warehouse stores towards smaller city-centre locations. The restructuring follows two consecutive years of declining sales for Ikea and leadership changes at both Inter Ikea and major franchisee Ingka Group.

Warsaw Business Journal

France 24

Reuters

Standard Chartered to reduce more than 7,000 roles by 2030

Standard Chartered plans to cut 15% of back-office jobs by 2030 as it expands AI and automation use, targeting higher efficiency, profitability and productivity under chief executive Bill Winters. The London-headquartered lender, which focuses on Asia-Pacific and Africa, employed around 51,000 staff in support services - equivalent to back-office positions - as of June 2025. "It's not cost-cutting. It's replacing in some cases lower-value human capital with the financial capital and the investment capital we're putting in," Winters said.

Financial Times

Reuters

WORKFORCE

Young UK graduates left behind in job market

Former Labour cabinet minister Alan Milburn's upcoming report, which was commissioned by the UK government and will be published later this month, has found that 10.6% of young people not in employment, education, or training (Neets) are the holders of degrees. He criticises the government for prioritising university funding over vocational training. Milburn, who was health secretary from 1999 to 2003, said: "Too many young people with qualifications are finding themselves out of the labour market. Employers are demanding skilled labour but the education system is not providing it . . . A better balance is needed. We have to ask hard questions about whether we are allocating resources in the right way."

The Times

Germany goes from labour shortages to hiring freezes

Once one of the Eurozone’s strongest jobs markets amid demand for cars and machinery, the number of unemployed people in Germany has topped 3m for the first time in 15 years.

Financial Times

Dutch companies skip raising tax-free mileage reimbursement

Most major Dutch companies are not increasing the tax-free reimbursement for employee travel to the new government rate of 25 euro cents per kilometre, according to an ANP survey. The cabinet raised the allowance from 23 to 25 euro cents to help offset rising energy prices. Firms including ABN AMRO, Rabobank, and ING have said they will not adjust their reimbursements, observing that many employees already use public transport or work from home.

NL Times

HIRING

The graduate job coaches offering access to ‘unwritten rules’

The FT reports on graduate coaches who are advising young people on how to hone their job applications and network in a recruitment market that has become swamped by AI.

Financial Times

CORPORATE

Commerzbank formally rejects UniCredit takeover offer

Commerzbank has formally rejected an offer by Italy's UniCredit to buy the German lender. UniCredit, which has become Commerzbank's largest shareholder, recently made an offer to buy Commerzbank shares in a deal that values the bank at nearly €39bn ($45.37bn) and below its market price. The German bank said in an analysis of the deal that the offer "does not reflect the fundamental value of Commerzbank" and that it was "vague and entails considerable risks."

ANSA.it

Reuters

TAX

Shakira cleared of tax fraud by Spanish court

Shakira has been acquitted of tax fraud by Spain’s High Court, which overturned a €55m ($64m) fine imposed by Spanish tax authorities and ordered the government to repay the singer more than €60m, including interest. The court ruled that authorities failed to prove Shakira spent more than 183 days in Spain during 2011, the threshold required to establish tax residency under Spanish law. Spain’s tax agency said it will appeal the decision to the Supreme Court, meaning repayment will be delayed pending the outcome. The ruling relates only to the 2011 tax year and is separate from a 2023 agreement in which Shakira accepted charges and paid a fine over unpaid taxes between 2012 and 2014.

Reuters

INTERNATIONAL

Starbucks cuts corporate jobs and closes offices

Starbucks is cutting 300 US corporate jobs and closing several regional support offices as part of a wider cost-cutting and restructuring programme aimed at restoring "durable, profitable growth". Offices in Atlanta, Burbank, Chicago and Dallas will close, while the company also reviews international support operations, with further job cuts possible outside the US. Starbucks said the changes would not affect its coffee shops and are intended to simplify operations and reduce costs. The company expects to pay around $120m in severance costs and reduce the value of some real estate assets by $280m. The measures come as chief executive Brian Niccol continues a turnaround strategy focused on improving store performance and profitability.

Singapore to help workers transition to resilient occupations

Singapore plans to introduce "career bridges" to assist workers affected by artificial intelligence (AI) disruption. The Economic Strategy Review (ESR) committee's recommendations aim to provide structured pathways, including training and job-matching services, to help workers transition into more resilient occupations. The move will “proactively develop workforce transition plans before large-scale displacement happens,” the ESR secretariat said. “We could prioritise areas with more acute disruption pressures, and where there are ready industry partners and trade Associations and chambers we can work with to support the effort.” Deputy Prime Minister Gan Kim Yong said Singaporeans should be prepared for career transitions to become more common. He said: “Some workers will need to move into adjacent occupations. Others may require deeper reskilling. Some PMEs may face longer periods of adjustment . . . We must strengthen support for workers in transition. Our support systems must become more integrated and more anticipatory.”

Straits Times

India's salt workers brave brutal heat

In the Indian state of Gujarat, around 50,000 seasonal workers endure extreme conditions to produce 75% of India's salt. They migrate to the Little Rann of Kutch region for eight months, where they face temperatures exceeding 45 degrees Celsius. “We work in staggered timing . . . doing our work in early mornings and after sunset,” 42-year-old salt worker Babulal Narayan said. “During the hottest hours, it is too hot to stand.” Workers report fatigue, dizziness and nausea - all symptoms of heat stress that can lead to organ failure.

AlJazeera

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