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Labor productivity surges on investment in AI
Labor productivity increased by 2.8% in the fourth quarter, surpassing forecasts and marking the strongest growth in five years, according to the Bureau of Labor Statistics. The rise in productivity, which reflects nonfarm employee output per hour, is attributed to companies investing in technology to enhance efficiency and manage labor costs. “The labor market is…
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Citi’s investigation unit described as ‘internal hit squad’
A Citigroup executive who is suing the bank for sexual harassment has described the lender’s investigations unit as “HR’s internal hit squad.” Ardith Lindsey claims that the Citi Security and Investigative Services (CSIS), which employs former FBI agents and prosecutors, twisted her confidential statements to be used against her. “Citi’s CSIS operates as HR’s internal…
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JPMorgan and Citi ask Middle East staff to work from home
JPMorgan and Citigroup employees in the Middle East have been asked to work ?from home amid escalating local tensions, according to two sources familiar with the matter. Both U.S. lenders say they do not expect disruptions to their operations in the region due to the U.S.-Israeli air war ?against Iran, said the ?sources. “We ?are…
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Leaders must ensure Gen Z is prepared for the workplace
Writing for the Wall Street Journal, Tessa West, a professor of psychology at New York University and the author of “Job Therapy: Finding Work That Works for You”, says many members of Gen Z “are woefully unprepared for surviving – let alone thriving – in their jobs”. She believes “a combination of having fewer real-world…
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Amazon opens second-largest Asia office in Bengaluru
Amazon has opened its second-largest office in Asia in Bengaluru, unveiling a 12-storey, 1.1m sq ft campus that will accommodate more than 7,000 employees across e-commerce, operations, payments, technology and seller services in India. The new site forms part of Amazon’s ongoing expansion in the country, where it has already invested over $40bn and committed…
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Workplace equality exists nowhere, World Bank says
The World Bank has said that full workplace equality does not exist anywhere in the world, and only “less than 5% of women worldwide” live in economies with near full legal economic equality. Even in instances when workplace equality laws are passed by lawmakers they are truly enforced in only about half of all cases,…
