THE HOT STORY

Glassdoor and Indeed to cut 1,300 jobs amid AI integration

The Japanese parent of Indeed and Glassdoor is to cut 1,300 roles across the two job sites amid a shift toward artificial intelligence (AI), according to a memo seen by Reuters which detailed that the cuts are mostly in the U.S. and within the research and development, growth, and people and sustainability teams. Recruit Holdings did not provide a specific reason for the layoffs, but chief executive Hisayuki "Deko" Idekoba said "AI is changing the world, and we must adapt by ensuring our product delivers truly great experiences for job seekers and employers."

Reuters

ECONOMY

Thailand's productivity crisis deepens

Thailand is grappling with a slowdown in productivity growth, exacerbated by the Covid-19 pandemic, which has hindered the country's aspirations for high-income status by 2037. The National Economic and Social Development Council (NESDC) and the Organisation for Economic Co-operation and Development (OECD) recently launched the report "Strengthening Productivity Analysis for Policymaking in Thailand." Deputy Finance Minister Paopoom Rojanasakul presided over the event, where OECD chief economist Álvaro S. Pereira stressed the need for immediate reforms. He said: "Thailand's productivity slowdown and demographic shifts necessitate immediate action." The report identifies key barriers to productivity, including high market concentration, regulatory hurdles, and inadequate investment. To address these issues, the OECD recommends establishing a National Productivity Council to enhance data management and policy recommendations, alongside developing a National Productivity Framework for ongoing monitoring and improvement.

The Nation

WORKFORCE

Fukushima moves to retain young talent

Fukushima Prefecture is launching a public-private partnership to address a declining birth rate and youth exodus - particularly among women. The health and welfare ministry reported that Japan's births fell to 686,061 in 2024, with Fukushima experiencing a ninth consecutive year of decline, recording only 8,216 births and a fertility rate of 1.15. The initiative aims to foster collaboration between businesses and local organisations to create sustainable communities. Toyooka city serves as a model, having implemented measures to close gender gaps and improve workplace environments, resulting in increased female participation in the local workforce. Kiyomi Harada, head of the city's diversity and gender gap division, emphasised the need for ongoing efforts, saying: “As a government, we aim to offer opportunities for dialogue while raising awareness.”

The Japan Times Online

LEGAL

Jollibean agrees to pay the salaries

Singapore-based soya milk chain Jollibean is to pay salaries owed to 22 employees in instalments as the Ministry of Manpower (MOM) investigates the company for offences under the Employment Act. The Employment Claims Tribunals (ECT) has also ordered Jollibean to pay salaries to three employees, and another four cases are still either undergoing mediation or waiting for a decision by ECT. The Tripartite Alliance for Dispute Management (TADM) and MOM said that this brings the total number of workers receiving help for unpaid salaries to 29. “We would like to remind employers to pay salaries and CPF (Central Provident Fund) contributions on time to their employees, ” TADM and MOM said in the joint statement.

Straits Times

RISK

Two top BCG executives stripped of leadership roles over Gaza project

Boston Consulting Group (BCG) has announced that two senior partners are stepping down from leadership roles over their connection to the firm's involvement with an Israeli-backed aid project in Gaza. The project began as a pro bono effort to help solve food-supply challenges in Gaza. The firm says it turned into an unauthorized project by two other partners against the firm’s instructions. That work included a postwar financial model to voluntarily relocate Palestinians. The firm is now working to contain the reputational fallout from its ties to a project that has been described as an “inhumane and deadly militarized scheme” disguised as a humanitarian aid distribution effort. In the latest leadership shuffle, BCG’s chief risk officer, Adam Farber, and the head of its social-impact practice, Rich Hutchinson, are stepping down from those roles but remain as senior partners. The moves follow the June firing of two partners, Matt Schlueter and Ryan Ordway, who had worked in BCG's public sector defense and security practice.

TRT Global

Financial Times

Wall Street Journal

Air India CEO says crash investigation to continue

Air India chief executive Campbell Wilson has said that the investigation into last month's crash of a Boeing 787-8 Dreamliner is ongoing and cautioned against drawing premature conclusions following the release of a preliminary report. The report highlighted confusion in the cockpit and indicated that the fuel cutoff switches had flipped, leading to a loss of thrust, but did not identify a specific cause or make recommendations for immediate action.

Reuters

INTERNATIONAL

US federal agencies find that workers may have already quit

The Wall Street Journal reports that federal agencies have experienced significant workforce reductions through voluntary departures, early retirements, and buyouts, reducing the need for additional layoffs. Agencies including the Veterans Affairs (VA) and Labor Departments say attrition has helped meet staffing goals, with the VA expecting 30,000 employees to leave by fiscal year-end. “There should not be a rush to implement [the] extreme plans that were created by Elon Musk before there has been time to review and evaluate the consequences,” said Everett Kelley, national president of the American Federation of Government Employees, referring to the Tesla and SpaceX leader who led the Department of Government Efficiency, the agency which claims to have saved taxpayers more than $170bn with its aggressive cost-cutting.

The Wall Street Journal

Deep cuts agreed in major overhaul at Thyssenkrupp

German industrial giant Thyssenkrupp and the IG Metall labour union have reached an agreement on reduced working hours, lower bonus payments and site closures as part of a push to overhaul the country's largest steelmaker and prepare it for a standalone future. The agreement comes after Thyssenkrupp's announcement that up to 11,000 jobs at the TKSE steel unit, or around 40%, had to be cut or outsourced and that annual production capacity would be lowered to 8.7m-9m tonnes from 11.5m tonnes. "We went to the pain threshold and only made concessions where it was really necessary in order to secure jobs and locations," said Tekin Nasikkol, head of Thyssenkrupp's works council and member of the group's supervisory board, adding "We have now created the conditions for the company to emerge from the difficult situation out of its own strength."

Reuters

UK labour market shows signs of cooling

The UK labour market is experiencing a significant slowdown, with the supply of available workers increasing at the fastest rate in nearly five years. According to an analysis by KPMG and the Recruitment and Employment Confederation (REC), there has been a decline in permanent vacancies and reduced demand for employees. Consequently, wage growth in the private sector has slowed from 5.5% to 5.3%, marking the slowest pace in four months. Neil Carberry, chief executive of the REC, noted that companies are hesitant to hire due to "the scar tissue left by the spring tax hikes and fear of further business tax rises." Jon Holt, group chief executive and UK senior partner at KPMG, said the threat of rising employment costs is contributing to a "wait and see" approach among employers. Official jobs market figures show unemployment rose to a four-year high of 4.6% in the three months to April, up from 4.5% in the previous three months.

Reuters

The Guardian

The Times

OTHER

Kirin ends Beaujolais Nouveau sales

Kirin Holdings' wine unit Mercian will stop selling Beaujolais Nouveau in Japan starting this autumn, citing rising freight costs and changing consumer tastes. Once the wine’s largest export market, Japan imported 3.6m bottles as recently as 2021. However, demand has plummeted since a 2004 peak of over 12m bottles. Despite the decline, other Japanese importers like Suntory and Vinos Yamazaki continue offering tastings, and some resorts feature wine-themed experiences. Kirin’s spokesperson noted: “the way our customers choose and enjoy their wine will continue to diversify with time.” Some limited sales will continue via Kirin group companies.

The Japan Times

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