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APAC Edition
24th April 2025
 
THE HOT STORY
Top Japanese employers scrap employment system that held women back
Japan's largest financial institutions, including Nippon Life Insurance and MUFG Bank, are dismantling outdated practices that have historically hindered women's career advancement. By merging clerical roles - which are predominantly held by women and often lower-paid - with career-track positions, thee firms aim to create more opportunities for women to ascend to senior roles. Mioko Bo from NLI Research Institute said: "HR departments now know they have to change — they are being scrutinised both by potential recruits and investors.” Despite the changes, significant pay disparities persist, with women in finance earning only 62% of men's wages. The shift towards greater diversity is seen as essential for addressing Japan's labour shortages, as highlighted by JPMorgan strategists, who said that promoting diversity can help ease worker shortages that are impacting economic growth. However, challenges persist, with many women expressing concerns about increased responsibilities and work-life balance.
REMOTE & HYBRID WORKING
Koreans log fewest remote work days globally
A recent Stanford University study found that on average, Koreans work remotely for just half a day per week — the lowest rate among 40 countries surveyed. The researchers surveyed 16,000 college graduates between November and February to examine post-pandemic remote work trends. Respondents reported working from home an average of 1.27 days per week. The research found remote work to be most common in English-speaking countries, where people typically work from home 1.5 to two days a week. The researchers observed that the varying levels of remote work adoption across countries are primarily influenced by cultural factors, and noted that societal attitudes toward individualism and collectivism play a key role in the acceptance of remote work.
TECHNOLOGY
Report highlights risk to US influence in Global South
A report by the Atlantic Council has cautioned that the United States risks losing its technological edge to China in the Global South, where developing nations - home to 85% of the world’s population - are poised to play a pivotal role in shaping global tech norms. The think tank urges the US to engage more actively with these countries to counter China’s growing influence, warning that complacency could allow Beijing to “shape global technological norms and standards unimpeded,” thereby undermining American interests.
WORKFORCE
Wildberries allegedly employing North Korean workers
Videos from a Russian warehouse suggest that Wildberries, the country's largest e-commerce platform, is employing hundreds of North Korean women, potentially violating UN sanctions. The footage shows workers in company uniforms at a facility near Moscow. Wildberries denies the allegations, but the reports raise concerns about the use of North Korean labour abroad and the enforcement of international sanctions.
STRATEGY
Intel to cut over 20% of workforce
Intel is to unveil plans this week to cut more than 20% of its workforce in a move to streamline operations and reduce bureaucratic inefficiencies. The layoffs are part of a broader strategy to refocus on an engineering-driven culture.
CORPORATE
Arrival of Foxconn drives property prices in Indian town
In India, Foxconn's $2.5bn "Project Elephant" near Bengaluru is transforming the rural town of Devanahalli into a burgeoning industrial hub. The factory, set to be Foxconn's second-largest outside China, aims to create 40,000 jobs and double iPhone production in India to 30m units. The development has also led to a 35% rise in local property prices and attracted numerous real estate projects.
ECONOMY
Suntory CEO: US tariffs are killing investment appetite
Suntory chair and chief executive Takeshi Niimami has warned that President Donald Trump's tariffs could drive a recession that make companies reluctant to invest in the US. The situation is "really concerning”, he added. His comments come as the Japanese government engages the Trump administration in negotiations over its ramped up tariff campaign, with nations around the world watching how Japan fares. "Consumer confidence has been waning tremendously”, Mr Niinami said. "Consumers nowadays are not spending willingly so they go to the economy instead of the premium products". He also noted that, should this trend continue, companies will focus on other parts of the world, such as India and Indonesia.
INTERNATIONAL
Boeing seek to set new values following ‘brutal' employee feedback
Boeing employees have significant distrust in their senior leadership, according to an internal survey shared by chief executive Kelly Ortberg. Only 27% of participants said they would recommend Boeing as a workplace, and the survey, with an 82% participation rate, showed a decline in company pride, dropping from 91% in 2013 to 67% this year. Employees trust their direct managers more than senior leaders, with less than half saying they were confident in leadership's decision-making abilities. “I look at this as an opportunity for us to really understand what it is we need to do . . . to improve the culture of the company,” Ortberg told managers. “When we (improve the culture), people are going to be more motivated,” he continued. “Good things happen. People enjoy coming to work. And so as leaders of the company, it's really up to us to make that happen, enable that in the organization.” A California-based engineer who asked to remain anonymous to protect their job said: “We hear the same message all the time (but) it's all different between what you say you're going to do and what the actual action is.”
Undocumented construction workers in Paris are still waiting for papers
In Paris, undocumented construction workers are still awaiting promised residency permits and health insurance over a year after a wildcat strike at the city's Adidas Arena. The CNT-SO union's Rafika Rahmani suspects the delays are a form of retaliation for the strike, which highlighted poor working conditions. “It's like being in prison in France,” said Adama, a builder who has struggled to find comfortable housing. He sleeps in a room with 11 other people in the eastern suburb of Montreuil. “It's like if you don't have papers in this county, you don't have any value.”
PwC executives exit amid tensions
PwC is undergoing significant leadership changes in the Middle East to improve relations with Saudi Arabia's Public Investment Fund (PIF) after facing a one-year ban from new advisory work. The firm announced that key figures, including Mohamed ElBorno and Emma Campbell, will be stepping down. The decision follows PwC's attempt to recruit Jason Davies, a former chief internal audit officer at Neom, which is said to have contributed to the deteriorating relationship with the PIF. Despite the challenges, PwC's Middle East operations, which employ 12,000 staff across 12 countries, reported a 26% increase in sales, highlighting the region's importance to the firm's overall performance.
OTHER
Controversial health capsules under scrutiny in China
A Chinese snack shop, Auntie Congee's Snack Shop, has come under official investigation for selling health-promoting capsules made from human placenta. The controversy erupted when a netizen revealed that the shop, located near the Changzhou Hospital of Traditional Chinese Medicine, was processing afterbirth and offering capsules for sale. The shop charges 800 yuan ($110) for capsules made from placenta provided by the shop and 300 yuan ($40) if customers supply their own. The owner, who has a background in post-partum recovery services, claims that all placentas are sourced from new mothers in hospitals. As the owner also operates an online shop called Zixuan Maternity Matron Centre, the business has attracted significant attention and criticism.
 


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