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APAC Edition
21st February 2025
 
THE HOT STORY
Woolworths announces office redundancies
Australian retailer Woolworths is undergoing a significant structural shake-up, resulting in redundancies among its office-based employees. While the exact number of redundancies among the 10,000 office staff has not been disclosed, Woolworths assured that the cuts would not be "significant." The restructuring follows a recent mandate for office staff to work at least three days a week, aimed at enhancing responsiveness and in-person connections. Amanda Bardwell, Woolworths' chief executive, emphasised the importance of balancing customer and employee needs in the evolving work environment. The company is also appointing Annette Karantoni as managing director of Woolworths Retail as part of this transition.
TECHNOLOGY
AI boosts productivity but raises concerns
According to the latest QBE Insurance's Singapore SME Survey, a significant number of SMEs in Singapore acknowledge the effect of artificial intelligence (AI) on business productivity, with 52% stating it has a "significant impact," an increase from 49% last year. However, concerns about AI's risks are also rising, with 34% of respondents viewing it as a threat to business activities. Notably, 68% fear job replacement due to AI, a sharp rise from 17% in the previous year. Despite these worries, 55% of SMEs do not believe AI will replace jobs in their companies. The survey also highlighted that 68% of SMEs are hesitant to purchase cyber insurance, with many citing cost and perceived low impact as reasons.
STRATEGY
Singpost to cut 45 jobs
Singapore Post is set to lay off approximately 45 workers as part of a restructuring effort aimed at streamlining operations and enhancing corporate functions. A spokesperson clarified that the layoffs mainly impact corporate support roles, with a few positions in the international business unit also affected due to evolving job requirements. The decision follows ongoing macroeconomic challenges and intense competition. Affected employees are being notified progressively and will have access to outplacement and counselling services. The Union of Telecoms Employees of Singapore is collaborating with SingPost to assist displaced workers in finding new employment opportunities and ensuring fair compensation packages.
World Bank decentralises for local impact
The World Bank has announced a significant restructuring of its global operations, moving regional management teams from Washington to various hub offices worldwide. The initiative aims to enhance responsiveness to local needs, with two-thirds of World Bank Group staff now based in the regions they serve. The changes, driven by World Bank President Ajay Banga since June 2023, will impact 11 regional vice presidents and are expected to be fully implemented over the next two years. Potential hub locations include Dubai, Singapore, and Nairobi, with initial changes anticipated as early as May.
HIRING
Urgent need for construction workers in Australia
The latest report from the Productivity Commission highlights significant workforce challenges in Australia's construction industry which are hindering housing supply. Master Builders Australia (MBA) estimates that an additional 130,000 workers are required to meet the National Housing Accord target of 1.2m new homes by mid-2029. Despite having over 116,000 apprentices in training, the number of new apprenticeships has dropped by 22% in 2023. MBA Northern Territory chief executive Damien Moriarty emphasised the need for increased wage subsidies for employers to attract and retain apprentices. Additionally, the report suggests improving skill assessment for migrants and establishing a consistent licensing system to bolster the workforce.
Hong Kong's talent list expands again
Hong Kong's Labour and Welfare Bureau has expanded its talent list by adding nine new professions, bringing the total to 60 essential jobs for Hong Kong's economy. The initiative aims to address the local talent shortage, particularly in financial sectors with Islamic market experience. The move follows a study by the Hong Kong Institute of Certified Public Accountants, which highlighted a significant manpower shortage in accounting roles. The expanded list also includes roles in green shipping and aircraft maintenance, reflecting the city's evolving economic landscape.
Korea opens global talent centre
South Korea's Ministry of Trade, Industry and Energy has inaugurated the Global Talent Center in Seoul, aimed at attracting foreign professionals to Korea's tech and IT sectors. The initiative is part of a broader strategy to recruit 1,000 international experts by 2030. The centre will oversee the K-Tech Pass programme, designed to facilitate the entry of skilled workers in high-tech fields like semiconductors and artificial intelligence.
EMPLOYEE ENGAGEMENT
Zaggle teams up with Google
Zaggle Prepaid Ocean Services has partnered with Google's distributor Redington to launch the smart employee purchase (EPP+) programme in India, aimed at enhancing employee benefits and engagement. The initiative allows businesses to procure Google Pixel devices at discounted prices, offering tax savings of up to 35% for high earners. The programme provides a single-vendor solution for device management, ensuring enterprise-grade security and optimised cash flow for organisations.
INTERNATIONAL
KPMG US scraps DEI initiatives
KPMG’s US arm has removed reports on its diversity, equity and inclusion (DEI) initiatives from its website. The annual transparency reports detailed the representation of women and minorities across the organisation. The move comes after Deloitte told its US employees that it would “sunset” its diversity goals, an annual diversity, equity and inclusion report and the company’s DEI initiatives. In a memo, Paul Knopp, KPMG’s US chief executive, said: “The legal landscape surrounding DEI efforts has been shifting, via executive orders and in the courts.” He added: “We will continue to uphold the highest ethical standards and fully comply with all applicable laws and regulations, including adherence to the executive orders affecting us as a federal contractor.”
Continental cuts jobs amid downturn
Continental, the German auto parts supplier, has announced significant job cuts, including the closure of its Nuremberg plant, due to a downturn in the automotive industry. By the end of 2026, approximately 3,000 research and development jobs will be eliminated, with over half of these cuts affecting German facilities. Michael Iglhaut, head of Continental's General Works Council, expressed deep concern over the cuts, warning that they could lead to a comprehensive restructuring and stating that "job cuts and cost reductions at any price" are not sustainable for the future. The company aims to handle layoffs responsibly, primarily through attrition.
Peru's illegal miners 'use children as shields'
Teófilo Kukush, president of the Wampís community in Peru, is urging the country's government to declare a state of emergency due to the alarming situation surrounding illegal miners. He said: “They are using children between five and 10 years old as human shields.” The illegal mining operations have resulted in significant violence, with at least 30 fatalities reported over the past two years. Despite having 85,000 registered artisanal miners, only 20% possess formal permits, leading to rampant illegal activities. The Superintendency of Banking, Insurance and Private Pensions reported $1.096bn in operations linked to illegal mining from January to October last year.
OTHER
Worker climbs chimney to demand job back
A worker from Pandavapura Sahakara Sakkare Karkhane in India climbed a 510-ft chimney on Monday to demand action from the district administration and factory management after the dismissal of 49 workers. The worker, who was one of the dismissed, named as Ramakrishna, began his protest at 3am and descended only after receiving assurances from local police. He had set a three-day deadline for the management to reinstate the workers, saying: "If not, I will jump." Despite the dramatic protest, the management has refused to restore the jobs of the dismissed workers.
 


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