News That Matters

Tag: jobs

Jack Ma rows back on pledge to create one million US jobs

Jack Ma rows back on pledge to create one million US jobs

Business
Alibaba founder Jack Ma, who once boasted his e-commerce firm would spur the creation of one million jobs in America, has rowed back on those plans.Citing the ongoing trade war between the US and China, Mr Ma told China's Xinhua news agency: "There is no way to complete the promise."It follows remarks by Mr Ma at Alibaba's investor day that the trade tensions could continue for decades.He had previously embraced the idea of expanding in the US.In January 2017, Mr Ma met with US President Donald Trump, outlining a plan to increase Alibaba's presence in America and strengthen relations between the two countries.Alibaba said access to Chinese customers through its online marketplace would help US businesses grow and hire workers - a...
The rise of diversity and inclusion jobs

The rise of diversity and inclusion jobs

Finance
Accenture CEO: Diversity is critical Earlier this year, Uber hired its first ever chief diversity officer, following a string of sexual harassment claims and other PR crises for the brand. Last month, after a year plagued by controversy, the NFL posted a job opening for a head of diversity and inclusion. Diversity officers are popping up at many other high-profile companies, too. The titles may vary — "director of diversity and inclusion," "chief equality officer" or "head of diversity, inclusion and belonging" — but more organizations are realizing this is something that matters to their employees. It even merits an entire position (or sometimes, even its own department). According to data from Indeed, demand for the roles has increased significantly in jus...
1,500 jobs at risk as 42 Homebase stores to close

1,500 jobs at risk as 42 Homebase stores to close

Business
DIY retailer Homebase is set to close 42 stores, putting around 1,500 jobs at risk. The retailer is closing the stores via a Company Voluntary Agreement (CVA), a controversial insolvency procedure used by struggling firms to shut under-performing shops.Homebase said it anticipated the outlets would close from later this year into 2019.Until then, "all stores in the UK and the Republic of Ireland will remain open for business as usual and this process will have no impact on customer purchases, outstanding orders or any product or service guarantees".It said a "comprehensive review" had concluded that its current store portfolio mix "is no longer viable"."Rental costs associated with stores are unsustainable and many stores are loss making," it said.The CVA procedure would al...
Gaucho restaurant group collapses with 1,500 jobs at risk

Gaucho restaurant group collapses with 1,500 jobs at risk

Business
About 1,500 jobs are at risk after the Gaucho restaurant group said it intended to appoint administrators.The firm's advisors had been trying to find a buyer for the 39 restaurants in the Gaucho and Cau chains.However, high debt levels and a complex legal structure meant it had been unable to find an "agreed, solvent solution", a spokesperson said.The "ongoing underperformance" of Cau, which has been under threat since May, had also been an issue, Gaucho said.Directors have filed notice of intention to appoint administrators for the business, which is owned by the private equity firm Equistone."Until such time as the administrator has been appointed and agreed plans with management, it is business as usual," its statement said.Cau, described by Equistone ...
General Electric faces fines over French jobs pledge

General Electric faces fines over French jobs pledge

Business
France is threatening to take the unusual step of fining General Electric if it fails to create a set number of jobs in the country.It is claimed the US industrial giant will renege on a pledge to produce 1,000 new jobs by the end of the year.The Labour minister Muriel Penicaud said GE would face a €50,000 penalty for every job not created.The move could be a test of President Emmanuel Macron's bid to push through more business-friendly policies.GE had committed to create a net 1,000 new jobs by the end of this year when it bought the energy business of France's Alstom in 2014. The US company was in competition for Alstom with Siemens of Germany.But GE had created only 323 jobs by the end of April, the finance ministry said last week.GE chief executi...