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Recent Editions
Human Times
North America
Canadian lender Toronto-Dominion (TD) Bank has told some staff in its financial crimes and risk management team that it would run software to track the time they spend on browsers and internal chat and meeting applications. TD said the deployment of such software is "standard practice across the industry . . . the tool allows managers to more accurately manage workflows, team capacity and performance. Where deployed, colleagues are informed about where they are used and for what purpose." Deanna Pacitti, TD's associate vice president of high-risk investigations, told her team on a call reviewed by Reuters: "The idea is it's going to show pain points, where do we spend too much time . . . We know we have a lot of pain points across our systems."
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Human Times
UK
Official analysis reveals that today's graduates are set to earn nearly £80,000 less over their lifetimes than those who graduated 20 years ago, intensifying concerns over the value of higher education. An undergraduate completing studies in 2024 can expect lifetime earnings of £816,000, down £76,000 in real terms since 2004, while postgraduate earnings have also fallen. The findings suggest a shrinking "graduate premium" as wages for non-graduates rise faster and graduate employment prospects weaken. Only 57% of 2024 graduates were in full-time work 15 months after finishing.
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Human Times
Europe
Mercedes-Benz is to commence talks on additional cost cuts with union leaders as the German carmaker expands its use of AI to drive savings amid growing pressure from US tariffs and dwindling sales in China. The company wants AI to lift productivity and reduce expenses across functions; around 60% of employees use AI daily, and Mercedes is targeting 70% by the end of the year. “We need to evaluate, have we done everything within Mercedes, within Germany, to be more competitive against our rivals,” human resources chief Britta Seeger said. “We need to make sure Germany does everything to be a competitive country.” Bloomberg notes that the company's workers are protected from forced redundancies via agreements internally known as the ZuSi (short for Zukunftssicherung, or future security). Natural attrition and voluntary redundancies have so far been the firm's preferred method to reduce staff numbers.
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Human Times
Middle East
The UAE's Ministry of Human Resources and Emiratisation (MoHRE) has reminded private companies with 50 or more employees to meet their Emiratisation targets by June 30, 2026. Non-compliant firms will face financial penalties starting July 1, with fines of Dh10,000 per month for each unfilled Emirati position. Companies must achieve a 1% increase in Emirati employment in skilled roles during the first half of the year. MoHRE emphasised the importance of Emiratisation for national economic development and urged firms to utilise the Nafis platform to connect with qualified Emirati jobseekers.
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