Human Times

UK Edition

27th February 2026

THE HOT STORY

Nestlé pressures underachievers with new bonus structure

Swiss food giant Nestlé is overhauling its bonus system to reward top performers. The company is introducing six rankings for its employees to determine payouts. Employees deemed "exemplary" will be eligible for a payout of as much as 150% of the bonus target. Those employees given an "unsatisfactory" rating will receive between 0% and 50% of the target. Bonus targets vary across teams. Nestlé said the system simplifies performance evaluation, development planning and employee feedback. A Nestlé spokesperson said: “The idea behind the whole framework is to really develop people. We also want to change how people behave.”

Bloomberg

Reuters

STRATEGY

Ocado shares slide after CEO signals major job cuts

Ocado shares fell sharply yesterday morning after the online retailer warned of significant job losses following the collapse of key North American warehouse partnerships. The group said it has closed several automated warehouses in the US and Canada after Kroger scrapped three sites and paused plans for a fourth, while Canadian retailer Sobeys also exited a partnership. Chief executive Tim Steiner said the company is “simplifying” its operating model and targeting £150m of cost savings, with up to 1,000 roles potentially affected. For the year to November 2025, total revenue rose 12% to £1.4bn, while operating costs increased 3% to £1.6bn. Adjusted pre-tax losses narrowed 7% to £353m. The group has invested more than £90m in technology as it advances its automation capabilities, with Steiner saying most of the heavy investment phase is now largely complete.

Sainsbury's restructures tech division

Sainsbury's has announced that around 300 jobs are at risk within its technology and data division as part of a restructuring effort. The grocery giant plans to consolidate its tech teams into one for Argos and two for Sainsbury's. A spokesperson for Sainsbury's said: "By maximising the power of our data and technology, we're freeing up our teams to concentrate on what matters most – delivering great food, brilliant service and fantastic value for our customers." The company is also creating new regional store director roles and overhauling its Argos delivery model.

Daily Mail

The Daily Telegraph

The Independent UK

TECHNOLOGY

UK news giants unite for AI standards

Five major UK news outlets have formed the Standards for Publisher Usage Rights coalition (SPUR) to address the challenges posed by AI's use of news content. The coalition, which includes the Financial Times, The Guardian, the Daily Telegraph, the BBC, and Sky News, aims to establish protocols for fair use and protect original journalism. In an open letter, they said: "We believe we need to come together to protect original journalism and secure the long-term sustainability of our industry." SPUR seeks to create shared standards that ensure fair compensation for publishers while allowing AI developers access to quality journalism.

Sky News

Press Gazette

WORKFORCE

UK youth unemployment hits new high

The number of young people in the UK classified as not in education, employment, or training (Neets) has risen to 957,000, according to the Office for National Statistics (ONS). This figure represents 12.8% of those aged 16 to 24. The increase is primarily due to rising unemployment, particularly among young women, whose Neet numbers rose by 13,000. Alan Milburn, former health secretary, warned that societal expectations of progress for each generation are being undermined. He said: "The social contract that we've had in society . . . is now being broken." The Resolution Foundation has called for urgent government action to address these trends.

City AM

Daily Mail

The Guardian

UK citizenship applications surge as Reform vows settlement crackdown

UK citizenship applications hit a record high at the end of last year after Reform UK set out plans to strip overseas nationals of their right to remain permanently.

Financial Times

ECONOMY

UK consumer confidence dips amid economic worries

Consumer confidence in the UK has declined, with the GfK index falling to minus 19 in February, down from minus 16. The drop reflects growing concerns about personal finances and a reluctance to make significant purchases. Meanwhile, separate data from Lloyds Bank showed improved business sentiment, with optimism about UK growth rising to 36%. The upcoming Office for Budget Responsibility forecasts may provide further insights into the economic outlook.

City AM

The Times

UK’s first commercial lithium plant opens in boost to domestic metals mining

The UK’s first commercial-scale lithium plant - Geothermal Engineering Ltd’s facility in Redruth, Cornwall - has started operations as part of the country’s efforts to secure its own supplies of the critical mineral.

Financial Times

INTERNATIONAL

Super Retail takes A$23.8m hit from CEO affair scandal as profits slide

Australia's Super Retail Group has absorbed a A$23.8m ($16.9m) legal bill stemming from a workplace scandal involving its former chief executive, significantly denting first-half 2026 earnings and overshadowing new chief executive Paul Bradshaw’s debut results. The costs, largely linked to settlement payments to two former executives-turned-whistleblowers, Rebecca Farrell and Amelia Berczelly, were disclosed in fine print within the retailer’s results. The pair had alleged bullying, misuse of corporate funds and an undisclosed relationship between former CEO Anthony Heraghty and head of HR Jane Kelly. The A$23.8m expense consumed almost 20% of the group’s statutory net profit of A$104.1m for the December half.

The West Australian

The Australian Financial Review

The Australian

Germany's carmakers mired in crisis

Reuters reports on how falling demand in the auto supply chain is squeezing hundreds of smaller manufacturers in Germany and threatening job security and municipal services. The report observes that Baden-Wuerttemberg, the state which is Germany's top exporting region, accounting for 15.5% of national exports, is more exposed than most to the structural change that is roiling German industry. "The situation is very tense," said Barbara Resch, head of the IG Metall trade union in Baden-Wuerttemberg. "Suppliers invested a lot in electromobility and now demand isn't ⁠coming and at some point they simply run out of air financially."

Reuters

New Louvre chief aims to restore trust

Christophe Leribault has been appointed as the new head of the Louvre, succeeding Laurence des Cars, who resigned in the wake of a jewellery heist and ongoing staff strikes. Leribault, an 18th-century art historian, previously directed the Palace of Versailles and has experience at the Louvre's graphic arts department. "Leribault's priority will be to strengthen the safety and security of the building, the collections, and ⁠people, to ⁠restore a climate of ⁠trust, and to carry forward, together with all the teams, the necessary transformations for the museum," the ⁠Culture Ministry said in a statement about President Emmanuel Macron's choice for the job.

U.S. News

OTHER

Mandelson referred to EU's anti-fraud agency over Epstein files

The European Commission has requested an inquiry into Lord Peter Mandelson's tenure as trade commissioner from 2004 to 2008 following his recent arrest in London for alleged misconduct in public office. The arrest relates to claims he leaked sensitive information to convicted paedophile Jeffrey Epstein. The inquiry was prompted by newly released Epstein files, which suggest Mandelson sent Epstein confirmation that there would be a €500bn Eurozone bailout hours before it was announced. A spokesperson for the commission said: "Whenever there is any indication of a possible breach . . . the commission assesses these possible breaches." Mandelson has denied any wrongdoing.

Financial Times

The Independent

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