Human Times
The latest business Intelligence for HR professionals and people managers everywhere
Sign UpOnline Version
Human Times Logo
UK Edition
20th March 2026
 
Industry Slice Icon Logo

THE HOT STORY

UK job market softens

The UK job market is showing little sign of improvement, with payroll numbers falling by 49,000 in February and vacancies dipping to 721,000, according to the Office for National Statistics. Overall employment trends remain broadly flat, while the unemployment rate held at 5.2%. Businesses have blamed higher taxes and increased regulation for weaker hiring, and the Bank of England has warned that unemployment could peak at 5.3% this year. Meanwhile, analysts at RBC BlueBay have warned the market is in a "precarious" position, with joblessness possibly reaching 5.5% by the summer. Wage growth has also slowed, pulling back to 3.8% in the three months to January. Economists polled by Bloomberg had expected wage growth to ease to 4%. Yael Selfin, chief economist at KPMG UK, said: "Downside risks for the labour market have become more pronounced with the combination of a sluggish domestic economy and higher energy prices increasing costs."
Industry Slice Icon Logo

STRATEGY

HSBC weighs deep job cuts amid AI overhaul

HSBC is considering deep job cuts that could ultimately affect around 20,000 ‌roles, or about 10% of its total workforce, Bloomberg reports, citing people familiar with the matter. Non-client facing roles in global service ​centres are among those expected to be the most impacted as ⁠the bank bets on AI, although the assessment is at ​an early stage and no final decisions have been made. A spokesperson for HSBC declined to comment. A Bloomberg Intelligence report published last year said global banks could eliminate as many as 200,000 positions in the next three to five years due to AI. Chief information and technology officers surveyed for the report indicated that on average they expect a net 3% reduction in workforce.

Ikea owner cuts jobs in streamlining move

Ikea owner Ingka has announced plans to cut 800 jobs as part of a strategy to streamline operations. The move aims to accelerate decision-making and shift more responsibility to frontline staff. The job cuts will primarily impact employees in Sweden and at the company's headquarters in the Netherlands. Ingka employs around 166,000 people globally. 
Industry Slice Icon Logo

WORKFORCE

UK retail jobs hit record low

Britain faces the prospect of a "jobless generation" as employment in the retail sector falls to its lowest level on record, industry leaders have warned. Official figures show the number of retail jobs has dropped by 383,000 over the past decade to 2.8m, eroding a traditional entry point into the workforce for young people. The British Retail Consortium cautioned that rising employment costs and planned labour reforms risk further reducing flexible roles, which are heavily relied upon by younger workers. Helen Dickinson, chief executive of the BRC, said: "One in five people had their first job in retail, yet this vital step on the career ladder is cracking under the high costs of employment."

Observer offers voluntary redundancies

The Observer has offered voluntary redundancy to its entire workforce of 140 staff as it navigates challenges following its sale by the Guardian. The owners of the weekly title say the cuts could become compulsory. The redundancy scheme mirrors one from before the takeover by Tortoise Media last year, which saw a third of The Observer's  journalists leave.
Industry Slice Icon Logo

LEGAL

UK considers FOI clampdown as requests soar

Government figures are discussing a reduction in the cost ceiling for processing a freedom of information request as the number of annual submissions spirals, according to people familiar with the situation.
Industry Slice Icon Logo

CYBERSECURITY

City watchdog tightens cyber resilience rules

The Financial Conduct Authority (FCA) is tightening cyber and operational resilience rules for financial firms due to increasing cyber threats. New requirements will standardise incident reporting and third-party risk management, enhancing visibility during disruptions. Over 40% of reported cyber incidents in 2025 involved third parties, highlighting reliance on external providers. The new reporting system will launch in March 2027, allowing firms a year to prepare. The Cyber Security and Resilience Bill also aims to strengthen oversight of data centres and critical suppliers. Warning that "resilience is being tested like never before," Mark Francis, director of specialists and wholesale sell-side at the FCA, said the changes "give firms clearer rules and practical guidance to better manage disruption."
Industry Slice Icon Logo

REGULATION

Google proposes new search controls amid UK scrutiny

Google has said it is developing new ​search controls to let websites specifically opt out of its generative AI features, as ‌the company moved to address the concerns of the Competition and Markets Authority, Britain's competition regulator, about its dominance in search services. Reuters reports that Google has also proposed "a less intrusive" switch in a user's device settings to make it ​easier to change the default search engine, rather than frequent pop-ups, which it said would ​annoy users.
Industry Slice Icon Logo

LEADERSHIP

Deloitte's tax chief set for top role

Darren Graves, head of tax at Deloitte, is set to become the firm's next UK chief executive. Following a thorough selection process, he is being put forward as the only candidate in a partner vote. Mr Graves, who has been with Deloitte for his entire career and leads the firm's tax and legal division in the north and south Europe region, will officially assume the role in June. The need for a new UK chief executive came after Deloitte announced plans to merge its European and Middle Eastern businesses, which will be led by Richard Houston, the current UK CEO.
Industry Slice Icon Logo

INTERNATIONAL

Brussels launches ‘EU Inc’ plan to cut red tape across the single market

The European Commission has proposed allowing firms to set up in as little as 48 hours and operate according to a ‌single set of rules across the 27-nation bloc, in an attempt to to cut bureaucracy across the single market and narrow the gap with the startup scene in the United States. "We need to incentivise companies to stay in Europe and encourage those who once looked elsewhere to return,” ‌European Commissioner ⁠Michael McGrath said. "Europe has the talent, ideas, and ambition - but too often, bureaucracy drives our best entrepreneurs elsewhere." Unions are however sceptical of the plan, warning that it may lead to employees losing influence within their companies. In the past, concerns regarding workers’ rights have led to the failure of similar proposals, EurActiv notes.

PwC staff must embrace AI, US chief warns

Paul Griggs, the chief executive of PwC's US business, has warned senior staff that they may not have a future at the firm if they fail to embrace AI, saying that employees who think they have the "opportunity to opt out" of the technology are "not going to be here that long." Griggs, who noted that PwC is hiring more data specialists, said the firm will be changing some tax and consulting services into AI-powered automated tools, adding that these new tax and consulting tools could be accessed "without a PwC person in the loop."

Hong Kong 'attracts more talent due to Middle East tensions'

Hong Kong labour chief Chris Sun Yuk-han has said geopolitical tensions in the Middle East have made the city “a more attractive place” for global talent, including those from Gulf countries. “A significant number of overseas talents choosing Hong Kong as their base for development truly demonstrates the city’s importance and attractiveness as a talent hub,” he said at Hong Kong's Global Talent Summit Week. “We know that, given the geopolitical tensions in the Middle East, Hong Kong – with our secure environment and very stable opportunities – has become a more attractive place for talent from around the world, including those from the region who can use Hong Kong as a base for development.”
Industry Slice Icon Logo

OTHER

Half of mental health posts are inaccurate, researchers warn

A study by academics at the University of East Anglia has found that up to around half of videos on TikTok discussing mental health topics include misinformation, with 41% of videos discussing autism and 52% of those discussing attention deficit hyperactivity disorder (ADHD) including inaccuracies. Dr Eleanor Chatburn said the research "highlights how easily engaging videos can spread widely online, even when the information isn't always accurate." She added that social media "has become an important place where many young people learn about mental health, but the quality of this information can vary greatly."
 
Industry SLice Logo

The Human Times is designed to help you stay ahead, spark ideas and support innovation, learning and development in your organisation.

The links under articles indicate original news sources. Some links lead directly to the source material. Others lead to paywalls where you may need a subscription. A third category are restricted by copyright rules.

For reaction and insights on any stories covered in the Human Times, join the discussion by becoming a member of our LinkedIn Group or Business Page, or follow us on X.
Follow us on FacebookFollow us on XFollow us on Linkedin

This e-mail has been sent to [[EMAIL_TO]]

Click here to unsubscribe