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Human Times
North America
Teamsters seeks court order to halt UPS $150,000 driver buyout plan

The Teamsters union has urged a federal judge to block UPS from offering $150,000 buyouts to drivers, warning that more than 10,000 workers could accept the deal if it proceeds. UPS plans to extend the enhanced buyout offer to around 105,000 eligible employees as part of a broader restructuring that includes cutting up to 30,000 jobs and closing 24 facilities. The company says the move is aimed at reducing its driver workforce amid falling package volumes and a strategic shift away from lower-margin deliveries for Amazon. The union argues the buyout program violates its 2023 labor contract, claiming UPS failed to negotiate the plan and is barred from making individual agreements with drivers. UPS counters that the contract does not prohibit voluntary buyouts and says blocking the program could force it to implement layoffs instead. Chief U.S. District Judge Denise Casper in Boston said she would issue a ruling shortly.

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Human Times
UK
Policymakers should encourage 'creative destruction' of low productivity firms

The weakest UK firms now produce less per worker than they did 30 years ago after adjusting for inflation, according to analysis by the Boston Consulting Group (BCG) which says policymakers should encourage "creative destruction" of companies that are barely surviving and help workers to move to higher-growth areas. The UK's industrial strategy should be focused on successful areas, and have "hard edges and be relentlessly focused, rather than trying to lift growth for all sectors," the analysis says. Raoul Ruparel, chief UK economist at BCG, said more companies with low productivity were “dragging down overall productivity growth and absolute levels of productivity.”

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Human Times
Europe
UK policymakers should encourage 'creative destruction' of low productivity firms

The weakest UK firms now produce less per worker than they did 30 years ago after adjusting for inflation, according to analysis by the Boston Consulting Group (BCG) which says policymakers should encourage "creative destruction" of companies that are barely surviving and help workers to move to higher-growth areas. The UK's industrial strategy should be focused on successful areas, and have "hard edges and be relentlessly focused, rather than trying to lift growth for all sectors," the analysis says. Raoul Ruparel, chief UK economist at BCG, said more companies with low productivity were “dragging down overall productivity growth and absolute levels of productivity.”

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Human Times
Middle East
GCC countries continue to achieve real GDP growth

The Gulf Cooperation Council Statistical Center has said GCC countries continue to achieve real growth in gross domestic product, driven by economic diversification programmes and ongoing fiscal reforms across member states. It said the GCC recorded steady economic, developmental, and social expansion during 2024, in a year that was characterised by growth led by non-oil sectors, improved quality of life, enhanced digital infrastructure, and stronger regional and international economic presence.

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