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APAC Edition
11th July 2025
 
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THE HOT STORY

Indian workers unite for Bharat Bandh

Hundreds of thousands of workers across India participated in a one-day strike, dubbed "Bharat Bandh," in response to Prime Minister Narendra Modi's privatisation efforts and economic reforms. Organised by a coalition of 10 major trade unions, the strike disrupted public services, manufacturing, and transportation. Activist Aishe Ghosh highlighted the precarious situation of workers, stating: "You can be fired any day from work. Your labour has no value in this country." The unions demand higher wages, a halt to privatisation, and the withdrawal of new labour laws. Despite the government's push for foreign investment and economic reforms, trade unions remain unconvinced, with Amarjeet Kaur, general secretary of the All India Trade Union Congress, asserting that the government aims to suppress workers under the guise of business ease. The strike reflects growing discontent among workers and farmers over their rights and economic conditions.
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HIRING

China boosts jobs with new subsidies

China is intensifying efforts to stabilise employment and enhance household incomes amid ongoing economic challenges. The General Office of the State Council announced a one-off employment subsidy of up to 1,500 yuan for companies hiring unemployed individuals aged 16 to 24. Employers must sign formal contracts and contribute to unemployment, work injury, and pension insurance for at least three months to qualify. The initiative will be funded through China's unemployment insurance reserves and is set to last until the year's end. Additionally, the National Development and Reform Commission (NDRC) has allocated 10bn yuan to expand its “work-for-relief” programme, which aims to create over 700,000 jobs and improve rural infrastructure.

Banks tighten rules on PE recruiting

Private-equity recruiting is pressuring first-year banking analysts with gruelling speed-dating-style interviews and job offers for roles starting years later. Firms compete aggressively to secure top talent early, sometimes reaching out before graduates even begin their jobs. In response, major banks like Morgan Stanley and Goldman Sachs have introduced stricter disclosure policies. JPMorgan now warns incoming analysts they risk termination if they accept future-dated offers within their first 18 months. Base pay in private equity can exceed $300,000, attracting young professionals despite repetitive early tasks and high stress. The intensity of this recruiting cycle has led some PE firms to delay offers, with Apollo and General Atlantic pausing their 2027 class hires.
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WORKFORCE

HESTA faces backlash over access issues

HESTA's chief operating officer, Stephen Reilly, has stated that "most members are able to access whatever it is they need to do," despite ongoing issues for some. The superannuation fund, which serves over 1m Australians, experienced a planned outage in April due to a change in administration providers. Although services resumed in June, many members reported delays and difficulties accessing their funds. Carol Varenhout, a HESTA member, highlighted her frustration over missing contributions, while Super Consumers Australia chief executive Xavier O'Halloran described HESTA's response as "appalling." Financial Services Minister Daniel Mulino emphasised the importance of members having access to their funds, and the Australian Securities and Investment Commission is considering its regulatory response.
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CULTURE

CFMEU vows to change toxic culture

The administrator of the Queensland branch of the CFMEU, Mark Irving KC, has committed to transforming the union's "old culture" following a critical report by barrister Geoffrey Watson SC. The report highlighted severe allegations of violence and misogyny, stating that the union breached its own anti-violence policy. Irving aims to implement disciplinary measures and create new conduct guidelines to foster a culture of accountability and respect. The report attributed much of the blame to former leaders Michael Ravbar and Jade Ingham, who allegedly cultivated a violent environment. Deputy Premier Jarrod Bleijie condemned the previous Labor government's complicity in enabling such behaviour. Irving believes that "fundamental change in the CFMEU Qld Branch is achievable" and plans to formally apologise to those affected by the union's actions.
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HEALTH & SAFETY

CCTV in childcare: a necessary step?

Australia's education ministers are contemplating the implementation of CCTV in childcare centres following serious allegations of sexual assault. Early Childhood Education Minister Jess Walsh expressed support for G8's initiative to install cameras, stating: "However, this is only one part of the change that needs to be made to make sure that early education and care services are safe environments for children." The proposal follows a briefing by Chris Wheeler, who recommended trials of CCTV in centres with safety concerns. Critics, including Professor Gabrielle Meagher from Macquarie University, argue that CCTV cannot address fundamental issues like understaffing and inadequate training. The United Workers Union has also raised concerns about the potential for unintended consequences from such measures. 

Health check-up scheme for workers launched

The Tamil Nadu government has announced a master health check-up scheme for members of the Tamil Nadu Construction Workers Welfare Board, marking a significant step towards addressing occupational health issues for unorganised workers. Dr R Manivelan, state nodal officer for occupational health, highlighted the urgent need for attention to diseases like silicosis, which affects many construction workers. Despite the introduction of this scheme, experts stress that a comprehensive approach to occupational health is essential, including regular health assessments and better support for informal workers.
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TRAINING & DEVELOPMENT

Job market woes for fresh graduates

In response to a challenging job market, Singapore's institutions are enhancing support for graduates. Ms Gan Siow Huang, Minister of State for Foreign Affairs and Trade and Industry, highlighted the need for optimism, stating: “For now, the job market is still quite steady.” However, recent surveys reveal a decline in full-time employment for fresh graduates, with only 79.5% from universities and 54.6% from polytechnics securing jobs in 2024. Pioneer MP Patrick Tay emphasised the importance of agile institutions and proactive career coaching to address the skills mismatch exacerbated by AI. He called for targeted measures, including expanded access to internships and structured career pathways, to prevent long-term unemployment.

Undergrads battle for finance club spots

At Singapore's universities, undergraduates are fiercely competing for membership in finance clubs, seen as essential for securing coveted banking jobs. Maya, a social sciences graduate, remarked: “It's low-key crazy — it's quite absurd how competitive it is.” With a tightening job market and an increase in business graduates, students view these clubs as vital for enhancing their resumes. The acceptance rates for these clubs hover around 10%, with rigorous application processes including stock pitches and interviews. Despite the intense pressure, many students believe that participation in these clubs provides a significant advantage in the competitive finance sector. As Bethan Howell from Selby Jennings noted: “If being in a club gives you confidence or makes you feel more sure in the interview, then sure.”
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REMOTE WORKING

Thailand's workation paradise beckons

The Tourism Authority of Thailand (TAT) has launched its "Workation Paradise" campaign to attract digital nomads, freelancers, and remote workers to the country. Announced by TAT Governor Thapanee Kiatphaibool, this initiative aims to draw quality tourists who can work remotely while enjoying Thailand's attractions. With an estimated 14m-16m digital nomads and remote workers, TAT anticipates the campaign will generate around 210m baht in tourism revenue. Over 200 establishments are participating, offering exclusive discounts across accommodation, dining, co-working spaces, travel activities, and wellness services. Fastwork Technologies chief executive Ck Cheong stated: "Workation is not just a trend, but the future of work," highlighting the campaign's potential to benefit both tourists and the local economy.
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WORKPLACE

Tech firms dominate India's flex space

In the first half of 2025, technology companies were the primary occupiers of flexible workspaces in India, accounting for nearly 50% of total demand. According to Colliers, tech firms leased over 10m sq ft of office space across the top seven cities, driving 40% of conventional space demand. Bengaluru and Hyderabad, known for their significant talent clusters, led this leasing activity. Arpit Mehrotra, Managing Director at Colliers, stated: "India is a powerhouse of tech talent and a key player in the global innovation ecosystem." The report highlights India's strong position in the global tech talent landscape, with its top cities ranking high for tech talent acquisition in the Asia Pacific region.
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PRODUCTIVITY

AI sparks job fears at Microsoft

Microsoft's chief commercial officer, Judson Althoff, highlighted the transformative impact of artificial intelligence (AI) on the company's operations during a recent presentation. He noted that AI tools have significantly boosted productivity across various sectors, saving Microsoft over US$500m in call centres alone. Althoff stated: "Through the use of Microsoft's Copilot AI assistant, each salesperson is finding more leads, closing deals quicker and generating 9% more revenue." However, the rise of AI has also led to replacement anxiety among workers, particularly as Microsoft announced cuts of about 15,000 employees this year. Despite these layoffs, Microsoft's top lawyer, Brad Smith, clarified that productivity gains from AI were “not a predominant factor” in the recent job reductions.
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INTERNATIONAL

Older workers hold key to UK economy

The OECD warns that older Britons must work longer to prevent an economic slowdown. The UK's GDP per capita is projected to grow at just 0.41% annually until 2060, nearly half the previous rate. The OECD's Employment Outlook report states: "The UK is marked [from other rich countries] by the striking contribution that improving older worker employment could make." Currently, only 58% of those in their 60s are employed, and 15% of workers aged 55 to 64 experience job strain, which discourages them from remaining in the workforce. The report suggests that enhancing job quality and implementing policies to encourage the hiring of older workers could significantly improve employment rates. With the state pension age rising to 67, the UK aims to bolster its grey workforce, following successful examples from countries like the Netherlands. Retaining older workers could account for nearly 70% of potential improvements in the UK's overall employment rate.
 
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