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APAC Edition
11th September 2024
 
THE HOT STORY
New Bill recognises gig workers in Singapore as distinct labour class
Singapore's Parliament has passed a Bill to enhance protections for platform workers, including cabbies, private-hire drivers, and freelance delivery personnel. The legislation, effective from January 1, 2025, designates platform workers as a distinct legal category, ensuring they receive contributions to the Central Provident Fund (CPF) similar to those of employees.  The Bill also allows platform workers to form representative bodies, enabling them to negotiate collective agreements. While concerns about implementation costs were raised, the law aims to balance the interests of all stakeholders involved, ensuring fair competition among platform operators. The government says it is open to reviewing the law's scope in the future to potentially include other sectors.
WORKFORCE
Proposal to delay retirement age in China
Top members of the National People Congress, China's top legislative body, have discussed plans to delay the official retirement age, among the world's lowest, in a key move towards changing decades-old labour laws and easing economic pressures presented by a shrinking workforce, delaying pension payouts and requiring older workers to stay in employment for longer.  The retirement age in China is now 60 for men, about six years below that in most developed economies. For women who are in white-collar work it is 55, and 50 for women who work in factories. "It is an inevitable choice for China to adapt to the new normal of population development," Mo Rong, Director of the Chinese Academy of Labour and Social Sciences told the People's Daily. Life expectancy in China is forecast to exceed 80 years by 2050, from about 44 years in 1960.
HIRING
Global hiring intentions expected to hold steady in fourth quarter
Global hiring intentions are expected to hold steady in Q4 2024, even though the outlook for the quarter ahead was weaker than the corresponding quarter of last year, according to ManpowerGroup's Employment Outlook Survey. The poll of more than 40,000 employers in 42 countries showed the global hiring outlook for Q4 2024 was slightly higher at 25%, compared to 22% in Q3 2024. But ManpowerGroup said year-on-year it fell 5%, according to the internationally used net employment outlook (NEO) metric, which showed that over 40% of employers polled expect an increase in hiring plans, while 16% anticipate a reduction. "The global labour market is holding steady as we move into the fourth quarter, with relatively low unemployment and layoff activity in many countries," observed Jonas Prising, chief executive of ManpowerGroup. The strongest hiring plans were reported by employers in India (37%), Costa Rica (36%) and the United States (34%). The weakest outlooks came from Argentina (4%) and Israel (8%). The survey also found that increasing work-life balance is a top priority for employers, particularly in Asia-Pacific, as they focus on improving worker retention.
TAX
Former Byju's staff get notices for 'unpaid' tax
India's income tax department has been issuing notices for unpaid TDS (tax deducted at source) to former employees of employment platform Byju's over the past ten days. Kaushik Kumar Lade, a former senior manager of sales, said: "I am sure over 6,000 former or current employees have got this demand notice just as I have." The notices relate to tax amounts that the employer failed to deposit. Non-depositing of tax is a serious offence under Indian law, and while the company may face penalties, employees are left to deal with the consequences. Many former employees are seeking clarity on the situation, with one saying: "We are not sure how and where this notice leads and our liability around it." Byju's is currently undergoing insolvency, with claims of $101m registered with the Insolvency and Bankruptcy Board of India. Earlier this year, 62 employees demanded overdue salaries exceeding Rs 2.3 crore, highlighting the company's financial struggles.
TRAINING & DEVELOPMENT
Upskilling can contribute to professional growth, job security and industry relevance in Singapore
Starting next year, Singaporean employees aged 40 and above can receive an allowance of up to S$3,000 monthly for up to 24 months under the SkillsFuture Level-Up Programme. This initiative aims to enhance professional growth and job security in a rapidly evolving job market. Samir Bedi, EY Asean people consulting leader, emphasised the need for employers to play a significant role in fostering lifelong learning, stressing, "Employers can, and they must." The programme encourages collaboration between businesses and learning providers to create relevant courses, ensuring that skills remain aligned with industry demands. As Singapore prepares to raise its retirement age, the initiative is seen as crucial for older workers seeking to upskill.
TECHNOLOGY
Zeekr welcomes first humanoid robot intern
In Ningbo in East China's Zhejiang province, Zeekr, a new energy vehicle manufacturer under Geely Holding Group, has introduced its first humanoid robot intern. Standing at 170 centimetres, the sleek silver robot successfully carried a 15-kilogram crate and navigated the factory with ease, marking a significant milestone as the first of its kind in China to perform full-process handling tasks in an automotive setting. At the recent World Robot Conference in Beijing, 27 humanoid robots showcased their capabilities, highlighting the rapid commercialisation of such technology for industrial use. Xu Xiaolan, former vice-minister of industry and information technology, remarked that humanoid robots are poised to become another "disruptive product" akin to computers and smartphones, driving future industries and economic growth.
CORPORATE
PwC sends senior partner to China
PwC has appointed Hemione Hudson, one of its senior British executives, to lead its operations in China amid scrutiny over audits of collapsed property developer Evergrande. Hudson is expected to work in China indefinitely, as the firm faces an investigation by Chinese authorities regarding its auditing practices over the past 14 years. Evergrande, once the largest property developer in China, defaulted on over $300bn in debts in 2021. Chinese regulators have accused Evergrande of fraud, claiming it overstated sales by tens of billions of dollars.
LEGAL
Auditor BDO ‘suppressed free press’ in Hong Kong
City accounting firm BDO is facing allegations of complicity in human rights abuses in Hong Kong, particularly concerning the closure of a pro-democracy newspaper. The accusations stem from a complaint filed by former Next Digital directors Mark Clifford and Gordon Crovitz, who claim that BDO breached Organisation for Economic Co-operation and Development guidelines by failing to prevent adverse human rights impacts linked to its operations. BDO is the world’s fifth largest network of independent accounting, tax and advisory firms. 
INTERNATIONAL
Workers at several large U.S. tech firms 'overwhelmingly back Harris'
Workers at several large U.S. tech companies, including Google, Amazon and Microsoft, overwhelmingly back Democratic presidential candidate Kamala Harris, according to donation data. They donate significantly more to the Harris campaign than employees who send money to former President Trump’s camp, the data compiled by political monitoring organization OpenSecrets suggests. The data includes donations made by company employees, owners, and workers' and owners' immediate family members. Corporations are blocked from sending money directly to presidential candidates, but their employees aren't. “Many businesses serve customers on both sides of the political aisle, and they don't want to alienate customers by making contributions that support just one party or one candidate in a partisan race,” observed Michael Beckel, research director at campaign finance reform nonprofit Issue One. 
Volkswagen scraps German job protection deal
Volkswagen has terminated a long-standing agreement that protected jobs in Germany for three decades, as part of its cost-cutting strategy. The company informed unions that the deal, which ensured job security until 2029, would end, although jobs remain protected until June next year. "We must put Volkswagen in a position to reduce costs in Germany to a competitive level," the company said in an internal memo. The decision comes amid rising manufacturing costs and competition in the electric vehicle market. Daniela Cavallo, chairwoman of VW's works council, expressed strong opposition, vowing to resist "this historic attack on our jobs." The announcement has led to protests from thousands of employees at VW's headquarters in Wolfsburg.
U.K. regulator clears Microsoft over ties with Inflection AI
The U.K.'s Competition and Markets Authority (CMA) has cleared Microsoft's hiring of some former employees of Inflection AI and its partnership with the start-up, saying that the deal did not require further investigation. The competition regulator launched a probe in July to look at whether the deal might lead to competition concerns in the U.K. because both companies develop and supply consumer chatbots. The Wall Street Journal says the decision allows Microsoft some breathing space as the company faces more scrutiny in the U.K. and the U.S. British officials are still considering whether Microsoft’s partnership with ChatGPT maker OpenAI should be considered a de facto merger.
OTHER
Girls' brains 'aged faster during lockdown'
Research conducted at the University of Washington's Institute for Learning and Brain Sciences has found evidence that social restrictions imposed during the COVID-19 pandemic may have led to premature aging in the brains of teenagers - with girls significantly more impacted than boys. Researchers had taken MRI scans in 2018 as part of plans to build a model of how the brain changes during school years. Further MRI scans were taken after lockdowns in 2021 and 2022. The study found that girls' brains appeared an average of 4.2 years older than expected after lockdowns, while boys' brains appeared 1.4 years older. Researchers cautioned against assuming that the observed accelerated cortical thinning is a sign of damage. Thinning is “not necessarily an indication of a problem,” and can be “a sign of maturational change,” said Ronald E. Dahl, who directs the Institute of Human Development at the University of California, Berkeley and was not involved in the study. “Accelerated thinning is being interpreted as problematic, and it could be, but that is a leap. ”
 


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