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Recent Editions
Human Times
North America
Entry-level employment at U.S. banks has fallen by nearly 5% since 2022, while mid- and senior-level positions have continued to grow, according to a report from labor-market analytics firm Revelio Labs. The decline has been particularly pronounced in commercial and retail banking, compared with investment banking and capital markets. Data from major institutions, including JPMorgan Chase, Bank of America, and Citigroup, indicate a shift toward more experienced employees, although Goldman Sachs has expanded hiring across all seniority levels. The report highlights banking's exposure to artificial intelligence and the potential impact of automation on junior roles, without establishing AI as the cause of the decline. However, Bank of America and JPMorgan have challenged aspects of the findings, emphasizing their continued commitment to recruiting early-career employees.
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Human Times
UK
Major retailers including Marks & Spencer and Tesco are leading efforts to improve paternity leave, offering six weeks at full pay compared with the UK's statutory entitlement of two weeks. Research by campaign group The Dad Shift highlights growing disparities between sectors, with construction, manufacturing and agriculture offering significantly less generous provisions. Enhanced policies introduced by five major retailers have benefited nearly 650,000 workers. More than 100 Labour MPs are urging Prime Minister Andy Burnham to introduce six weeks of paternity leave paid at 90% of earnings, capped at £1,200 weekly, and extend eligibility to self-employed fathers. Campaigners argue Britain's current statutory payment of £194.32 weekly is inadequate, particularly for lower-income families. A government review is expected later this year.
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Human Times
Europe
Volvo Cars is to eliminate 2,500 jobs globally, primarily in Sweden, as part of a cost-cutting strategy amid fierce competition and declining sales. The company reported an adjusted operating loss of 3.7bn Swedish crowns ($373m) for the third quarter, a significant drop from a profit of 5.8bn crowns the previous year. "The third quarter of 2026 was very disappointing and reflects a year that has become far more challenging than originally anticipated. Our ongoing turnaround plan therefore needs a decisive reinforcement," CEO Hakan Samuelsson said. "We are convinced that we have the right long-term strategy addressing these challenges," he added. The jobs cuts would be made "through natural attrition and by targeted exit packages to employees," Volvo said.
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Human Times
Middle East
Mnzil, The Development Group and Capital Partners have launched a SAR1bn fund to develop purpose-built workforce compounds accommodating up to 50,000 workers across Saudi Arabia. Mnzil will operate the portfolio, TDG will oversee site selection, design and development, and Capital Partners will manage the fund. Development is expected to begin in Q4 2026 across major employment centres including Riyadh, Jeddah, Dammam, Khobar, Makkah and Madinah. Compounds will include furnished rooms, recreational facilities, communal areas and on-site services, with locations chosen to reduce commuting. Mnzil chief executive Majeed Albabtain said, “Improving workers' lives is a collective effort.” The partners see the model as supporting Vision 2030 while establishing workforce housing as a scalable institutional real estate asset class backed by employer demand and long-term leases.
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