Global HR headlines: Business leaders in Davos told to invest in skills for the future

The BBC plans to cut 1,000 jobs, while Samsung announces its plan to create 80,000 jobs.

Global business leaders at the World Economic Forum in Davos are told that up to one billion people will need reskilling, training and lifelong learning by 2030. The world’s oldest broadcaster, the BBC, announces closure of two television channels and jobs cuts, while Samsung announces its plans to create 80,000 jobs over the next five years despite an uncertain macro-environment.

BBC faces licence fee squeeze, to cut 1,000 jobs

UK national broadcaster, the BBC will shut two television channels and cut 1,000 jobs, about six percent of its headcount, in a bid to cope with inflation and the squeeze on its licence fee funding.

The restructuring marks a turning point for the 100-year-old corporation and is the first indication of how director-general Tim Davie is looking to reshape the BBC for an era of austerity and “digital-first” programming, reports the Financial Times.

The broadcaster is under pressure on several fronts. Culture secretary Nadine Dorries has imposed a two-year freeze on the licence fee, the BBC’s main source of funding; production costs are rising; and the BBC’s long- term financing is under review.

Invest in skills for the future, WEF hears

Technology is changing rapidly and people will have to be trained for it, Salil Parekh, CEO of Indian IT services firm Infosys told a meeting of global business leaders at the annual World Economic Forum (WEF) in Davos.

Speaking at the session on 'Accelerating the Reskilling Revolution', Parekh said with labour markets in flux from the fallout of the Covid-19 pandemic, technological shifts and the green transition, up to one billion people will need reskilling, training and lifelong learning by 2030.

Digital skills, in tandem with communication, can help a lot in reskilling a person and are fast becoming the new landscape, the CEO added.

HSBC suspends exec over climate change comments

HSBC has reportedly suspended a senior executive who accused central bankers and other officials of exaggerating the financial risks of climate change.

Stuart Kirk, global head of responsible investing, was suspended pending an investigation into a speech he made at an event last week, according to the Financial Times, which first reported the story.

During his presentation, “Why investors need not worry about climate risk”, Kirk reportedly made light of the risks of major floods and said, “Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that’s a really nice place.”

The firm declined to comment.

Samsung to create 80,000 new jobs
Samsung will create tens of thousands of new jobs over the next five years, despite an uncertain economic environment exacerbated by long-running supply chain issues and the war in Ukraine.

The South Korean conglomerate is embarking on a hiring spree that will create 80,000 new jobs through 2026, “or about 16,000 positions annually”, it said in a statement. Previously, its goal was to generate 40,000 jobs from 2021 to 2023, reports CNN.