THE HOT STORY

A master’s degree isn’t a job guarantee anymore

The joblessness rate for workers under 35 with a master’s degree has rarely been higher in the past 20 years, according to the Burning Glass Institute, a labor-market think tank. Holders under 35 of a master’s degree are at the 77th percentile of unemployment, where the 50th percentile is normal, according to the analysis. “Every indication is hiring managers now are more receptive than ever to the idea that a person doesn’t need a graduate degree to be competitive,” says Johnny C. Taylor Jr., president of SHRM, a lobbying group for human resource professionals, who adds that AI has been an accelerant for HR people inside large and midsize companies to adopt a skills-first approach to hiring. “We are seeing that, hands down, especially in the last two or three years with AI . . . [employers simply want to know] Can you do it?”

Wall Street Journal

AI PROMPTS

The 30-second prompt to replace your 3-hour report

Somewhere out there, an HR leader just ran a 30-second AI prompt and surfaced the insight it would have taken you three hours and a pivot table to find. On May 21, you'll see exactly how they did it.

Rippling's AI Showcase is a free virtual event where real HR leaders demo their best AI prompts live with judges Sowmya Ranganathan (former Controller, OpenAI) and Vanessa Sarne (Sr. Director, Employee Relations & Benefits, Barry's Bootcamp).

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Steal their prompts →

STRATEGY

Starbucks cuts corporate jobs and closes offices

Starbucks is cutting 300 U.S. corporate jobs and closing several regional support offices as part of a wider cost-cutting and restructuring program aimed at restoring "durable, profitable growth". Offices in Atlanta, Burbank, Chicago and Dallas will close, while the company also reviews international support operations, with further job cuts possible outside the U.S. Starbucks said the changes would not affect its coffee shops and are intended to simplify operations and reduce costs. The company expects to pay around $120m in severance costs and reduce the value of some real estate assets by $280m. The measures come as chief executive Brian Niccol continues a turnaround strategy focused on improving store performance and profitability.

Ikea franchiser cuts 850 jobs amid weaker consumer spending

Inter Ikea has announced plans to cut 850 jobs, representing around 3% of its workforce, as the global Ikea franchiser seeks to reduce costs and lower prices amid falling consumer demand and rising operating pressures. The company said weaker consumer confidence, exacerbated by the Iran conflict and higher fuel costs, has reduced discretionary spending on home furnishings, while tariffs and inflation have also increased costs. Inter Ikea, which franchises the Ikea brand across 63 countries, is also continuing its strategic shift away from large suburban warehouse stores towards smaller city-center locations. The restructuring follows two consecutive years of declining sales for Ikea and leadership changes at both Inter Ikea and major franchisee Ingka Group.

Reuters

WORKFORCE

Workers at New York's Long Island Rail Road go on strike

About 3,500 workers at New York's Long Island Rail Road (LIRR) have gone on strike for the ‌first time in 32 years after failing to reach a wage agreement. "This strike would not have happened if the [Metropolitan Transportation Authority] and LIRR offered our members the reasonable terms the government recommended multiple times," Brotherhood of Locomotive Engineers and Trainmen President Mark Wallace said. "We hope LIRR gets serious soon to avoid further unnecessary disruptions for hundreds of thousands of New Yorkers. They know where to find us when they're ready: on the streets."

Reuters

LEGAL

Law firm sued for terminating Palestinian lawyer's job offer

Yasmeen Elagha, a Palestinian Muslim lawyer, has filed a lawsuit against law firm DLA Piper in the U.S. District Court for the Northern District of Illinois, alleging discrimination based on race, religion, and national origin. Elagha claims that her employment offer was unlawfully terminated after the firm saw press reports regarding her involvement in pro-Palestinian protests. Additionally, she asserts that DLA Piper fostered a hostile work environment during her tenure as a summer associate while attending Northwestern University's Pritzker School of Law. Elagha previously sued Northwestern for not protecting her from similar issues.

Bloomberg Law

Law

LEADERSHIP

FDA leadership shake-up continues

The U.S. Food and Drug Administration has replaced acting drug center head Tracy Beth Hoeg with deputy Michael Davis following the recent departure of Commissioner Marty Makary. Hoeg announced she had been fired days after Makary exited amid reported clashes with White House and health officials over drug approval decisions. The changes form part of a wider restructuring at the FDA under President Donald Trump’s administration, with thousands of staff leaving through layoffs and voluntary departures. Additional leadership changes include new acting heads for the biologics center and chief of staff roles.

Reuters

INTERNATIONAL

Fears of Samsung strike ease after court ruling

Samsung Electronics shares rose more than 4% today after a South Korean court granted an injunction restricting planned strike action by unions representing workers at the chipmaker, reducing the likelihood of major disruption to semiconductor production. The Suwon District Court ruled that staffing levels required for safety, product quality and facility protection must remain normal during industrial action, limiting the scope of an 18-day strike due to begin on Thursday. The court also barred unions from occupying facilities or blocking employee access, with fines of Won100m per day for breaches. The dispute centers on worker demands for higher bonuses linked to operating profit, while government officials warned that a prolonged strike could severely damage the South Korean economy and disrupt the global semiconductor supply chain.

Financial Times

Reuters

German 'chemical town' fears impact of shifting focus to China

Germany's industrial decline is being felt especially painfully in places such as Ludwigshafen, a company town of chemical giant BASF, which has shed some 2,500 jobs since 2022 amid a shift in focus to China. "The mood is obviously not good," Sinischa Horvat, chairman of BASF's works council, which represents staff interests, told AFP. "The entire market is currently so weak. When you watch the news, you hardly hear any positive messages." Local disquiet has intensified following a recent decision to sell off thousands of company-owned apartments, many of which are occupied by current and former workers. "The sale of these apartments sends a signal to the city and to the people who live here and, in some cases, work at BASF - BASF is scaling back its operations," said Patrick Thiel, a BASF employee who lives in one of the apartments.

France 24

India's salt workers brave brutal heat

In the Indian state of Gujarat, around 50,000 seasonal workers endure extreme conditions to produce 75% of India's salt. They migrate to the Little Rann of Kutch region for eight months, where they face temperatures exceeding 45 degrees Celsius. “We work in staggered timing . . . doing our work in early mornings and after sunset,” 42-year-old salt worker Babulal Narayan said. “During the hottest hours, it is too hot to stand.” Workers report fatigue, dizziness and nausea - all symptoms of heat stress that can lead to organ failure.

AlJazeera

OTHER

Claire’s targets Gen Alpha makeover

Claire’s is repositioning its brand to appeal to older tweens and young teens under new chief brand officer Michelle Goad, as the accessories retailer seeks to revive growth following its acquisition out of bankruptcy by private equity firm Ames Watson. The company is moving away from its long-standing bright purple branding in favor of softer pastel colors chosen with input from girls aged 10-14. Goad is also embracing internet culture and influencer partnerships, including collaborations linked to Roblox and slime products, to better connect with Generation Alpha consumers. Claire’s hopes the strategy will refresh its image beyond younger children, strengthen mall store performance and capitalize on renewed teenage interest in in-person shopping while celebrating "girlhood" rather than pushing girls toward adulthood.

The Wall Street Journal

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