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APAC Edition
9th April 2025
 
THE HOT STORY
Microsoft joint venture to lay off 2,000 employees in China
Microsoft's joint venture in China, Wicresoft, is set to cease operations, affecting around 2,000 employees. The decision aligns with Microsoft's strategy to end outsourcing after-sales support in the region amid rising US-China tensions and local competition. Established in 2002, Wicresoft has a global presence but is now facing challenges amid escalating political tensions and competition from local firms such as Kingsoft. A Microsoft spokesperson clarified that recent circulating information regarding a complete shutdown of the company's operations in China was inaccurate, specifying that it pertained only to Wicresoft.
CULTURE
Honda executive resigns amid scandal
Shinji Aoyama, Honda's executive vice president and director, has resigned following allegations of inappropriate conduct during a social gathering outside work hours. The company's audit committee had investigated the incident and prepared a disciplinary action plan for the board of directors, who were set to make a decision. However, Aoyama submitted his resignation before any action was taken. In response to the matter, Honda President Toshihiro Mibe will voluntarily return 20% of his monthly compensation for two months.
LEGAL
Hong Kong couriers take on Deliveroo in court
Sixteen couriers in Hong Kong are set to file claims with the Labour Tribunal against Deliveroo after the company failed to provide compensation upon its exit from the Hong Kong market. The Riders' Rights Concern Group said that the couriers are part of an estimated 12,000 riders who were not granted employee entitlements because they were classified as self-employed. Deliveroo recently announced its closure in Hong Kong after nine years, with plans to sell certain assets to rival Foodpanda. While the company said it would offer enhanced redundancy payments, only 200 workers previously employed by Deliveroo are eligible for this compensation. Justine Lam, the group's programme officer, expressed surprise at the lack of communication, saying: “For such a large-scale platform, to our surprise, it did not mention a word about how to handle all of its couriers.”
STRATEGY
Shein faces backlash from China over supply chain plans
Shein is encountering resistance from the Chinese government regarding its intention to relocate some production outside the country. According to Bloomberg News, China's Ministry of Commerce has advised Shein and other companies against diversifying their supply chains. One way Shein has responded is by halting reconnaissance tours it arranged for its major Chinese suppliers of factories in Vietnam and other Southeast Asian nations. The government warning comes amid President Donald Trump's announcement of reciprocal tariffs, which has prompted companies to seek alternative sourcing options. On Monday, the president said that if China does not drop its latest 34% levy by today, the US will introduce additional tariffs of 50% on the country, to take effect on Wednesday.
WORKPLACE
JPMorgan boss bans phones in meetings
Jamie Dimon, the chief executive of JPMorgan, has instructed staff to refrain from reading texts and emails during meetings, labelling it "disrespectful." In his annual letter to shareholders, Dimon urged employees to "make meetings count" and said he always gave discussions "100% of my attention," writing: "I see people in meetings all the time who are getting notifications and personal texts or who are reading emails. This has to stop. It's disrespectful. It wastes time." 
TECHNOLOGY
Shoosmiths ties bonuses to AI usage
London-headquartered law firm Shoosmiths is linking a staff bonus to the use of artificial intelligence (AI), setting a "clear and ambitious annual target" that will see 1m Microsoft Copilot prompts unlock a £1m ($1.3m) bonus pot. The metric will form part of the firm's collegiate bonus pool, which is available to all staff except partners and business services directors. Shoosmiths says that if every staff member uses its AI just four times per working day, the target "will be comfortably" surpassed. Chief executive David Jackson said: "We don’t fear AI - it won’t replace our people. Instead, it frees them to spend more time on the human-to-human work that really matters."
ECONOMY
China's credit boost fails to entice consumers
In response to a slowing economy and a trade war with the United States, China has implemented policies to enhance domestic consumption, including easing credit restrictions. Eric Liu, a 30-year-old white-collar worker in Shanghai, exemplifies the cautious consumer mindset, commenting: “I'm not attracted because of the interest burden.” Despite banks raising the maximum consumer loan limit from 300,000 yuan to 500,000 yuan and extending repayment periods, many consumers remain hesitant to take on debt. This reluctance poses challenges for Beijing's efforts to stimulate spending through relaxed consumer finance policies.
INTERNATIONAL
German employers urged to defy US pressure on DEI
Germany's BDI industry lobby group has called on employers to stay true to their principles at their German operations after the US said its embassies were seeking to ensure contractors comply with US guidance on diversity, equity and inclusion (DEI) programmes. "The BDI views with great scepticism the efforts of the US government to enforce political ideas with regard to corporate guidelines beyond its own national borders," said the BDI, adding: "Corporate principles apply regardless of which government is in power in which country. We therefore encourage companies to stick to their principles." The association said firms were subject to laws in the countries where they operate.
Two Microsoft workers say they were fired for protest
Microsoft has dismissed two members of staff who interrupted the company's 50th anniversary celebration to protest its work supplying artificial intelligence (AI) technology to the Israeli military. The company accused one of the workers in a termination letter of misconduct “designed to gain notoriety and cause maximum disruption to this highly anticipated event.” Microsoft said the other worker had already announced her resignation, but on Monday it ordered her to depart five days early. The protests occurred on Friday when Microsoft software engineer Ibtihal Aboussad walked up toward a stage where an executive was announcing new product features and a long-term vision for Microsoft's AI ambitions.
Bridgestone to cut 546 jobs in Spain
Japanese tyremaker Bridgestone has announced plans to reduce its workforce by 546 jobs at two factories in northern Spain due to challenging market conditions and increased competition from non-European products. The local UGT union indicated that a strike may be called at the affected sites. Bridgestone Hispania employs 2,800 workers in total. The company cited the need for an "adjustment" in production capacity amid inflation and regulatory changes impacting the European market. The decision follows similar actions by competitors, including Michelin, which also announced job cuts and factory closures in response to rising costs and competition from Asia.
Brazil issues $352m in new payroll loans
Rui Costa, Brazil's Chief of Staff, has announced that 2bn reais (approximately $352.02m) in new payroll-deductible loans have been issued to private sector workers following new government regulations. Costa revealed that state-run banks, Banco do Brasil and Caixa Economica Federal, have already provided over 1.2m loans under this initiative, with interest rates ranging from 1.5% to 3% per month, significantly lower than the average 5.9% for non-payroll-deductible loans. The market is closely monitoring the pace of loan issuance amid concerns that it could contribute to overheating the economy.
 


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