eNewsletter

Many major banks in Japan, such as Morgan Stanley, Citigroup, and HSBC Holdings, have been cutting a significant number of jobs. In an attempt to downsize, Goldman Sachs began its layoffs in June 2011 and continued them into late August 2011.

Accusations of exploiting their workers through underpayment or forced overtime have put pressure on foreign companies in China to improve work conditions for their employees.

Malaysian Prime Minister Majib Razak and the Malaysian cabinet have established Malaysia's first national minimum wage. This new minimum wage, at $265 - $295 per month, is a slight increase from the current worker's salary of $251 per month.

In the last decade, Taiwan has been reducing the income gender gap; however, Taiwanese women are still discriminated against in terms of raises, promotions, and salary.

According to ECA International's global survey, Japan has the greatest cost of living for expatriates in Asia. Both regionally and internationally, Tokyo continues to be the most expensive city to reside in.

The Korean Ministry of Employment and Labor and the South Korean government intend to revise the current Labor Standards Act and increase regulations dealing with work hours.

China has begun to see a surge in workers that are submitting naked resignations, a phenomenon that began in 2011. With naked resignations, workers quit their current job before securing another job and use that time to develop personal interests.

Singapore's Ministry of Manpower is directing companies to add flexibility to work arrangements in order to access more workers. This is expected to help employers realize cost saving benefits and increased productivity among workers.