As many primary school teachers stepped on the road to express their discontent with the Labour Government’s fiscal policies. NZEI, the teachers’ union argues that worker wages have failed to match the growth in housing prices. The roundtable battle has to be settled between the central-left Government, pleading for relaxation on a 16% demanded hike by the teachers. Prime Minister Jacinda Ardern promised a workable solution suggesting the same would demand prolonged discussions.
Air France is set for serious commotion in the next few months as the carrier seeks its next CEO, letting go of Jean-Marc Janaillac who failed to placate the unions. The bookies have placed their bets on the current Air Canada CEO Benjamin Smith. The point of contention, however, is his American ethnicity and his rumoured salary ($3.74 million). Industry analysts, however, do favour his crisis management pedigree having bagged a 10-year settlement with Air Canada flying crew in 2015.
Workers in Escondida, Chile, the world’s largest copper mine, set an example in workplace negotiations for workers in the mining industry across the world when they stood their ground and got employer BHP to extend workplace negotiations while calling off a planned strike in the nick of time.
The biggest concerns in negotiations seem to be the signing bonus and pay increase for every worker in the mine, and has raised national concerns, going so far as to warrant the involvement of Chilean President Sebastian Pinera.
David Wells, the man at the helm of finances in the world’s fastest growing independent media streaming service, will step down from his role as the CFO of the media giant. Netflix, which has seen scorching growth under the current leadership, in which Wells played a crucial role. Wells has maintained that he will remain at Netflix until he transfers his duties to a suitable successor, while the company said that it is actively looking for candidates, both internal and external, for the role. He would like to be a philanthropist in the next stage of his life, Wells said.
Investment Banking has always been considered a man’s game. A cliché that has held sway over multiple generations in most countries across the world. But an unlikely candidate has finally broken the mold. Malaysia, with a majority muslim population, has more number of women chiefs in its national investment banks than men, it was recently reported. Besides, these also include women heads in major financial corporations operating in the country including Credit Suisse and Rothschild. This is the biggest breakthrough in an industry that has a staggering 95% male population in top positions worldwide.
David Marcus, who’s predilection with the payment technology has engraved his name as a successful entrepreneur, PayPal President, & a high-ranking official of the Facebook’s Messenger Team, has left his seat on the Coinbase board. His decision to avoid “conflicting” priorities has got blockchain aficionados to speculate on Facebook’s entry into the cryptocurrency space. If true, it could prove devastating for still fledgling startups in the industry.
For women, portfolio management is best practiced anywhere but on Wall Street. This as per a Morningstar Inc. report. Firms that have employed the maximum women as fund managers are headquartered in San Francisco, San Mateo & Boston. With proven studies showing the correlation between women participation and asset management profitability, Wall Street might need to bull-doze its lackluster recruitment mechanisms which only worsen the non-existence of mentoring avenues.
The investment bank will be dogged in its attempt to lure talented, young professionals bearing the cost of training, even if that shapes up to become a $10.8 billion tech budget. Standing in face of a war for talent against Silicon Valley, the financial giant will lower its cut-off age for entry-level recruits and be open to offering challenging hands-on projects. J.P hires 1,000 (approx.) first time engineers annually.
Christopher Rollins, an ex-high profile executive of Goldman, is blowing the whistle on the company’s alleged shady dealings with the businessman Jim Esposito. The case involves the company dealing a blind-hand of $2 Billion under the noses of its own AML units. The case, lodged in the US District Court of New York, would be contested ‘heavily’ by Goldman.
An appeasing stance by the Confederations of British Industry (CBI) to sound more nationalist reflects the populist Brexit opinion of voters. The director-general of CBI, Josh Hardie, affirmed that a controlled immigrant inflow would be best for the UK. His emphasis lay on prioritizing the British ilk for jobs over European in-comers. The present day workforce distribution is heavily weighed against the natives in many sectors, to keep it politely.
The country’s last quarter job openings hit a milestone of 6.7 million, a 17-year high, with the maximum demand for staffing outpouring from the transportation sector. The consumers have an increased capacity to spend but it seems the search for better pay is making employees jump ship between sectors. Spring saw 750,000 more vacancies than last year with employers now focusing on staffing ‘hustling’ recruiters to meet front-line demands in manufacturing & warehousing.
Hearing what the Brazilian lawyers had to say about GE’s Chief Co. Daurio Speranzini Jr., you might actually start smelling something fishy. GE hired Speranzini on being fired from Philips on account of blacking medical supplies, promoted him through the ranks overtime and is now washing their hands off the act when questioned over moral grounds. Whereas the company has promised cooperation, the question arises – why pick someone with unscrupulous affiliations when there’s no dearth of top talent ready to serve!
Marred by the political climate of the country due to controversial executive representation, the company has decided to expand on its business offerings. Sanctioning heavy investments in automation and cellular disruptions, the tech giant would create 40,000 new jobs through 2020. If not for the obvious brand positioning objectives, the company was expected to step-up its game for entry into the aforementioned spaces, sooner than later.
Her legacy shall involve a list of accomplishments that established PepsiCo as a household name in the FMCG market. Following Indra’s departure, the total women CEOs in Fortune500 companies snow stands at 23 (5%). Ramon Laguarta, Nooyi’s successor will take the wheel as PepsiCo seeks new direction considering shifting consumer preferences. Lagurarta was voted president last year thanks to his impeccable track record in leading global operations
The state shall prosecute the Department of Labor for piloting a six-month program which protects employers in cases of inadvertent employee overtime payout violations. If effective, the amendments would untangle companies from paying overtime penalties. NY Attorney general Barbara Underwood criticized the scheme calling to stall the biased reform. New York is one the nine states, to have raised concerns with regards to such a practice.
Independent reporting claims the peace keeping organization lacks safeguards to ensure employee safety i.e. if they come forward to share their ordeals of harassment. Of those who were surveyed, 53% claim to have held back on blowing the whistle fearing a lack of job security. This is one of the reasons compelling those who have come forward to go public. Could there be a Weinstein-like epidemic that has been kept from people all this while?
Facing the plight of falling prices and mining geological challenges, South African miner, Impala Platinum has decided to bid adieu to 1/3rd of its workforce. This gruesome record would include 13,400 getting the boot over a 2 year downsizing drive. The indigenous platinum industry in the country has collectively been bleeding since 2008, systematically loosening its workforce from 200,000 to 175,000.
The Japanese economy is being buoyed while inflation is being tamed largely due to the working class senior and women professionals in the country, the central bank of Japan stated, in one of its more candid reports recently. The rise of the gig economy has also seen senior level workers working part time while organizations, both large and small, have continued their efforts to streamline their operations and augment their competencies. Japan expects to see a gradual acceleration of inflation to 2% soon.
The bias against women in compensation is hitting new highs with each passing day even as more companies are being nudged to comply with the compensation reporting rules. Discrepancies in hourly wages between men and women are not new, however, with more than 1,377 firms being having found to have a pay gap of more than 30% between genders for the same job, the Government Equalities Office seems to have a huge task in their hand. Expect more surprises as the scope of pay gap reporting is expected to increase in breadth and scope.
The 2005 housing boom, which saw young workers touch 11.7 million has dropped to 10.2 million. This was in 2016 but the picture looks no better today. The lure of employment has shifted to the digital economy which promises a life-long experience of relentless learning. That said, the lack of labor would only contribute towards rising house prices coupled with a shortfall in construction project delivery.
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