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26th February 2025
 
THE HOT STORY
Singapore's DBS to cut 4,000 roles as AI replaces humans
DBS, the largest bank in Singapore, says it expects to cut 4,000 roles over the next three years as artificial intelligence (AI) takes on more of the work currently done by humans. "The reduction in workforce will come from natural attrition as temporary and contract roles roll off over the next few years," a DBS spokesperson said. Permanent staff are not expected to be affected by the cuts. Outgoing DBS chief executive Piyush Gupta also said the bank expects to create around 1,000 new AI-related jobs. DBS did not say how many jobs would be cut in Singapore or which roles would be affected. The bank currently has between 8,000 and 9,000 temporary and contract workers and employs a total of around 41,000 people.
WORKFORCE
Hong Kong civil servants brace for workload surge
As Hong Kong grapples with a projected deficit nearing HK$100bn, government departments are poised to reduce contract staff, shifting the workload to civil servants. “Civil servants will then shoulder all the work done by the axed contract staff,” a source explained. The Civil Service Bureau maintains that departments have the discretion to manage contract employment under the Non-Civil Service Contract Staff Scheme and the Post-retirement Service Contract Scheme. Calls for reform are growing, with experts like John Burns from the University of Hong Kong advocating for the integration of artificial intelligence to enhance efficiency. He said: “The use of AI and Web3 could trigger a third civil service reform in Hong Kong.” Suggestions include cutting salaries for senior officials and downsizing the workforce, with some lawmakers proposing a reduction from 190,000 to 150,000 civil servants. However, concerns remain about the impact of such cuts on essential services.
STRATEGY
Google eyes retail expansion in India
Google is preparing to establish its first physical retail stores outside the United States, with India identified as a key market for expansion. The company has committed to investing $10bn in the region, where it aims to replicate the successful retail strategy of Apple. Currently, Google operates only five stores in the US, selling products like Pixel phones and earbuds. Sources indicate that locations in New Delhi and Mumbai are being finalised, with stores expected to span around 15,000 sq ft. "The timeline could change", noted one source, as the company is still in the advanced stages of planning.
Starbucks to eliminate over 1,100 corporate roles
Starbucks announced on Monday that it intends to cut 1,100 corporate roles and eliminate hundreds of open and unfilled positions. Chief executive Brian Niccol said the move is part of a plan  to “position the company for future success” by streamlining operations and creating a more nimble workforce. He explained: “Our intent is to operate more efficiently, increase accountability, reduce complexity and drive better integration.” Employees will be notified by midday Tuesday about whether their job is affected. The Seattle-based chain has about 16,000 corporate employees globally. 
Apple to hire 20,000 people, invest $500bn in the US
Apple announced on Monday that it plans to hire 20,000 people, invest $500bn in the US, and open a new 250,000 sq ft manufacturing facility in Houston, Texas. The plant is expected to open in 2026, and will produce servers supporting its Apple Intelligence AI system. Many of the new workers it plans to hire will be focused on research and development, silicon engineering, software development, and AI and machine learning. “We are bullish on the future of American innovation, and we’re proud to build on our long-standing US investments with this $500bn commitment to our country’s future,” said chief executive Tim Cook. 
HIRING
AI talent hunt heats up in China
The demand for artificial intelligence (AI) talent in China is skyrocketing, with headhunters like Jason Yang from Touch HR saying they are struggling to find qualified candidates. “Short-term talent gaps are inevitable as developing expertise takes time,” Yang said. By 2030, China's demand for AI professionals is projected to reach 6m, but domestic supply can only meet one-third of this need, resulting in a shortage of approximately 4m workers, according to a May 2023 report by McKinsey. Companies are increasingly looking overseas to fill these gaps, leading to competitive salaries and poaching among firms.
LEGAL
Australian government steps in over penalty rates
The Australian government has intervened in a contentious debate regarding penalty rates, prompted by a proposal from the Australian Retailers Association (ARA) to allow some employees to opt out of these rates in exchange for a 25% pay rise. Employment and Workplace Relations Minister Murray Watt expressed concerns that the change could leave "tens of thousands of workers worse off", risking their entitlements. ARA argues that current award terms hinder productivity, while unions, including the Shop, Distributive and Allied Employees' Association, have labelled the proposal an "attack" on workers' rights. ARA chief industry officer Fleur Brown clarified that the proposal allows voluntary salary absorption for those who agree. The matter is set for hearings next month.
HEALTH & WELLBEING
Spending all day on your feet can take its toll
An Associated Press report takes a look at how spending all day standing can take a toll on a worker’s body, and considers whether spending all day on your feet at work could be an occupational hazard. A review by the US National Institute for Occupational Safety and Health found that standing for long periods can precipitate lower back pain, fatigue, muscle pain and leg swelling, and it can also heighten the risk of cardiovascular problems and pregnancy complications. Unionised workers at the Barnes & Nobles store in Manhattan's Union Square have made access to chairs and the right to sit down under certain conditions a part of their negotiations for their first contract.
MANAGEMENT
Deloitte China appoints new chief executive
Deloitte China has selected its first female chief executive officer from its local talent pool in mainland China, according to people familiar with the matter. Dora Liu will become Deloitte China’s new CEO on June 1st for a four-year term, succeeding Patrick Tsang.
INTERNATIONAL
Federal workers advised not to reply to Musk email
Some federal agencies are advising employees not to respond immediately to a demand by President Donald Trump's adviser Elon Musk to list their accomplishments in the past week or be fired. On Saturday evening, workers at multiple US agencies received an email - the subject line of which read, "What did you do last week?" -  instructing them to detail their work accomplishments during the previous week by 11:59 p.m. ET on Monday (0459 GMT on Tuesday). The email was delivered shortly after Musk posted on his X social media site that a failure to respond would be viewed as indicative of a resignation. The email originated from a human resources address in the Office of Personnel Management. Employees at the departments of Defense, Homeland Security, Education and Commerce, the Federal Deposit Insurance Corporation, the National Institutes of Health and the Internal Revenue Service have been told not to respond pending further guidance, according to sources and emails seen by Reuters. "To be clear – this is irregular, unexpected, and warrants further validation," wrote a senior executive at the National Centers for Environmental Information.
Campari plans restructuring
Italian spirits group Davide Campari has said it is planning restructuring to ensure its financial health. Italian daily MF reported on Thursday that the company was working to cut its workforce by 10%, or around 500 people.  The company said it will have to take some "tough decisions," adding "We are gradually implementing a comprehensive set of company initiatives to accelerate growth and profitability via focus, simplification and cost containment."
 


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