The latest business Intelligence for HR professionals and people managers everywhere
Sign UpOnline Version
APAC Edition
19th May 2025
 
THE HOT STORY
Korea could soon become a country with a labour supply shortage
As Japan grapples with unprecedented labour shortages leading to a surge in bankruptcies, experts caution that Korea may soon face a similar fate without immediate reforms. In 2022, Japan recorded 342 bankruptcies attributed to workforce shortages, a 1.3 times increase from the previous year, with Teikoku Databank predicting that “labour shortage bankruptcies are expected to remain high.” Korea, experiencing a demographic decline and a mismatch between labour supply and demand, could see its economically active population shrink by 2030. Kim Yu-bin from the Korea Labor Institute warns: “If the population decline becomes full-blown, the impact could be greater than that of Japan.” The Organisation for Economic Cooperation and Development has also highlighted Korea's labour market imbalances, urging urgent policy changes to address job mismatches and improve immigration policies. “Urgent policy responses are needed to connect young and middle-aged workers with jobs,” Kim Yu-bin said.
CYBERSECURITY
Japan wants to boost number of cybersecurity experts
Japan is looking to increase its number of cybersecurity experts to 50,000 by 2030. A survey indicates that Japan faces a cybersecurity expert shortage of about 110,000 people. The hiring initiative will specifically target people with the Registered Information Security Specialist national license established in 2016. As of last month, about 24,000 people had obtained the qualification, a number that Japan hopes to double.
STRATEGY
Hang Seng Bank slashes workforce
Hang Seng Bank is undergoing lay-offs as part of HSBC Holdings' restructuring strategy aimed at improving cost-effectiveness and growth. Sources indicate that some departments have lost up to 20% of their staff, with the hardest-hit team experiencing a 50% reduction. The affected areas primarily include information technology and corporate communications, while wealth management and key growth sectors remain untouched. The bank is actively recruiting for around 100 vacancies, but remaining employees will need to reapply for their positions, competing against external candidates. Hang Seng Bank said the ongoing adjustments include “creating new roles, restructuring the organisation [and] upgrading staff's technical skills to offer a better quality of service for customers.” The lay-offs are expected to continue over the next two months.
Amazon trims jobs in devices and services unit
Amazon is laying off approximately 100 employees in its devices and services division, which includes businesses such as the Alexa voice assistant, Echo hardware, Ring video doorbells, and Zoox robotaxis. A spokesperson said: “As part of our ongoing work to make our teams and programs operate more efficiently, and to better align with our product roadmap, we’ve made the difficult decision to eliminate a small number of roles." Amazon chief executive Andy Jassy has been on a mission to trim costs across the company, laying off 27,000 employees since the beginning of 2022. Job reductions have continued this year, though at a smaller scale than in preceding years. The devices and services organisation experienced layoffs in 2022 and 2023.
TECHNOLOGY
Chinese manufacturing boosted by AI-assisted humanoid robots
China is advancing its manufacturing capabilities through the development of artificial intelligence (AI)-powered humanoid robots, with companies like AgiBot leading the charge in creating robots that can perform various tasks, Reuters reports. The Chinese government is heavily investing in the sector, providing over $20bn in subsidies and establishing a significant fund to support start-ups in AI and robotics, as it aims to enhance economic growth and maintain manufacturing superiority. However, the rise of these robots raises concerns about potential job losses in the manufacturing sector, prompting discussions about the need for AI unemployment insurance and the robots' role in addressing labour shortages in areas like elderly care.
Meta delays launch of flagship AI model
Meta is delaying the release of its “Behemoth” artificial intelligence (AI) model amid concerns about its capabilities. Internal questions about its public release have been raised as Meta engineers struggle to improve the large-language model. Meta is said to be weighing management changes to its AI product group due to the performance of the Llama 4 team, which is being blamed for the failure to make progress on Behemoth. The Wall Street Journal says Meta’s recent challenges mirror difficulties at other top AI companies that are trying to release their next big state-of-the-art models.
TAX
Pakistan's PM vows crackdown on tax evaders
Prime Minister Shehbaz Sharif has prioritised expanding Pakistan's tax base as part of the country's $7bn loan program with the International Monetary Fund (IMF). During a recent meeting, he said: “Expanding the tax net is the government's top priority,” as he emphasised the need for action against tax evaders and their enablers. The government aims to increase the tax-to-GDP ratio from 8.8% in the 2023-24 fiscal year to 10.6% by June 2025, with a long-term goal of 13%. Measures such as digitising tax monitoring systems and implementing track-and-trace technology in key industries have already shown positive results, including a 35% rise in tax receipts from the sugar sector. Sharif concluded: “By the grace of God, the national economy is stabilising and progressing.”
INTERNATIONAL
Starbucks baristas protest against new uniform mandate
Hundreds of Starbucks employees at more than 50 US outlets have walked off the job since Sunday to protest the company's new dress code, according to Starbucks Workers United, which represents baristas at about 570 of the chain's more-than 10,000 company operated locations. The coffee chain last week implemented a new dress code that requires baristas to wear solid black tops, a change from prior practice that allowed any colour, among other changes. Baristas argue that the dress code won’t improve operations or make their jobs easier, union delegate Michelle Eisen said in a statement from Workers United. “This policy change puts the burden on baristas, many of whom are already struggling to get by, to buy new clothes or risk being disciplined,” she said. The company has said it would provide two Starbucks-branded shirts free of charge but couldn’t guarantee they would arrive by May 12th, when the new dress code went into effect.
Deadly risks to migrant workers building stadiums for the 2034 World Cup
Human Rights Watch (HRW) has raised the alarm over the safety of migrant workers in Saudi Arabia, particularly those involved in construction for the 2034 World Cup. The NGO reported that "scores of migrant workers in Saudi Arabia die in gruesome yet avoidable workplace-related accidents," as it highlighted the lack of adequate safety measures and compensation for families. HRW's investigation into nearly 50 cases revealed that the Saudi authorities have failed to protect workers from preventable deaths and to investigate safety incidents. As construction ramps up for the World Cup, HRW warns that the risks are escalating. The organisation has urged FIFA to ensure proper investigations into work-related deaths and adequate compensation for bereaved families. Despite FIFA's plans for a workers' welfare system, HRW claims that "FIFA is knowingly risking yet another tournament that will unnecessarily come at a grave human cost." The report also noted that many deaths are attributed to so-called "natural causes," which often go uninvestigated and uncompensated.
EMEA companies poised to return to office
A report from JLL has found that 44% of companies in Europe, the Middle East and Africa (EMEA) plan to increase office-based workdays by 2030, while 61% are focused on increasing office usage. The report highlights the increasing emphasis on office spaces, fostering collaboration, innovation, and community. The average office fit-out cost in EMEA is €1,823 per square metre, with regional variations reflecting higher costs in northern Europe. 68% of corporate real estate leaders plan to increase investment in sustainability performance over the next five years. The report also highlights the challenges facing the fitout market, including increased material costs, labour shortages, and project timelines.
Sierra Leone's largest diamond miner shuts down
Koidu Limited, Sierra Leone's largest diamond producer, has ceased operations and laid off over 1,000 employees due to ongoing disputes regarding pay and working conditions. Charles Kainessie, president of the Koidu Limited Workers' Union, highlighted that employees were receiving only 30% of their salaries because payments were pegged to the US dollar but made in local currency at an outdated exchange rate. The company has faced accusations from Sierra Leone's First Lady, Fatima Bio, who claimed Koidu had been "unjust to the workers for far too long." Koidu Limited has reported financial losses exceeding $16m from the strike and said it requires $20m to restart operations. Sierra Leone's Information Minister, Chernor Bah, said that efforts are underway to resolve the situation.
OTHER
Insurance firms target Hong Kong's silver economy
Three insurance firms in Hong Kong, BOC Group Life Assurance, FWD Group, and Prudential Hong Kong, have launched new policies aimed at supporting the growing “silver” population in the Greater Bay Area. This comes as the government promotes integration across the region, with around 88,000 Hongkongers aged 65 or above residing in the area as of 2022, a 11% increase since 2017. Wilson Tang, chief executive of BOC Life, said: “Mainland cities, offering a high quality of life with comparatively lower living and healthcare costs, create a favourable environment for cross-border retirement.” The firms aim to establish a comprehensive healthcare and retirement ecosystem, enhancing services for retirees in the region.
 


The Human Times is designed to help you stay ahead, spark ideas and support innovation, learning and development in your organisation.

The links under articles indicate original news sources. Some links lead directly to the source material. Others lead to paywalls where you may need a subscription. A third category are restricted by copyright rules.

For reaction and insights on any stories covered in the Human Times, join the discussion by becoming a member of our LinkedIn Group or Business Page, or follow us on Twitter.
Follow us on FacebookFollow us on XFollow us on Linkedin

This e-mail has been sent to [[EMAIL_TO]]

Click here to unsubscribe