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Commerzbank employees are worried about job cuts report
Reports that Germany’s Commerzbank is considering cutting thousands of jobs as it contends with an unwanted advance from Italy’s UniCredit have unsettled staff, a senior trade union official has said. Frederik Werning, a Verdi trade union official and a member of the supervisory board at Germany’s second-largest lender, said rumoured redundancies reported in the Financial…
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Former executive sues Tesla over remote work change
Mike Tully, a former Tesla executive, has filed a lawsuit against the company after claiming it reneged on a promise that his role would remain remote. Tully, who left Bank of America for Tesla, was assured by Associate General Counsel Charles Lee that relocation was not required. However, two months into his employment, Tully was…
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Global unemployment to hold steady at 5%, ILO says
The International Labour Organization (ILO) has said global unemployment remained steady last year at an historical low of 5%, where it is set to stay in 2025. However, the ILO said job creation would be limited by a global economic slowdown from 3.3% to around 3.2% last year, and a gradual medium-term deceleration. “The global…
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Walmart faces backlash over DEI cuts
Thirteen state attorneys general and a group of more than 30 shareholders representing $266bn in funds have urged Walmart chief executive Doug McMillon to rethink the company’s recent decision to roll back its diversity, equity, and inclusion (DEI) initiatives. In a public letter, the officials expressed concern over Walmart’s closure of its Center for Racial…
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Employers regain upper hand amid return-to-office mandates
As firms clamp down on remote-work policies, reduce benefits and cut travel budgets, the Wall Street Journal argues that there has been a shift in leverage toward employers post-pandemic. The report quotes Michael Gibbs, a professor of economics at the University of Chicago’s Booth School of Business, who says: “Firms are trying to reset expectations”…
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Apple stands firm on diversity policies
Apple’s board has urged shareholders to reject a proposal from the National Center for Public Policy Research to eliminate its diversity, equity, and inclusion (DEI) programmes. The board, including CEO Tim Cook, said: “The proposal is unnecessary as Apple already has a well-established compliance program,” saying that it would restrict the company’s operational management. The…
