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DLA Piper announces promotions in Luxembourg

DLA Piper is pleased to announce a new round of promotions in Luxembourg. Once again the range of practice areas in which we have promoted our lawyers demonstrates the continued commitment to grow our pool of talents, further strengthen our Luxembourg office and reflects the diversity of expertise and talents within DLA Piper Luxembourg.

The newly promoted lawyers, effective as of 1 May 2021, are:

  • Emre Akan (Senior Associate, Tax);
  • Bahya Bouharati (Senior Associate, Investment Funds);
  • Jordan Reinert (Senior Associate, Corporate);
  • Yann Zellet (Senior Associate, Finance and Projects).

DLA Piper’s Country Managing Partner in Luxembourg, Catherine Pogorzelski, commented: “I would like to congratulate Emre, Bahya, Jordan and Yann on their promotions and thank them for their hard work, dedication and for promoting a collaborative attitude which sits at the core of our purpose and values. These promotions demonstrate our commitment to develop the capability of our people and help them fulfil their potential. We have ambitious plans for the future. I look forward to further growing our team of dynamic and diverse lawyers with strong sector expertise and entrepreneurial mindset which are key to build sustainable partnerships with our clients and DLA Piper global network and create long-lasting value and impact.”

These promotions come in addition to the partner promotion of Caroline Pimpaud in Investment Funds practice.

Pandemic has accelerated digital upskilling, but key groups still miss out

A new survey of 32,500 workers in 19 countries paints a picture of a global workforce that sees the shift to remote working as just the tip of the iceberg. Reflecting the fact the pandemic has accelerated a number of workforce trends, 60% are worried that automation is putting many jobs at risk; 48% believe ‘traditional employment won’t be around in the future’ and 39% think it is likely that their job will be obsolete within 5 years.

However, this is not a counsel of despair, as 40% of workers say their digital skills have been improved through the prolonged period of lockdown, and claim they’ll continue to embrace training and skill development. 77% are ‘ready to learn new skills or completely re-train’ and 74% see training as a matter of personal responsibility. And, 80% are confident they can adapt to new technologies entering their workplace, with a large majority of those asked in India (69%) and in South Africa (66%) saying they are ‘very’ confident.

In addition, 49% of respondents are focused on building entrepreneurial skills with an interest in setting up their own business.

Half of workforce report missing out on career opportunities or training due to prejudice

The survey also found that 50% of workers say they’ve faced discrimination at work which led to them missing out on career advancement or training. 13% report missing out on opportunities as a result of ethnicity and 14% of workers have experienced discrimination on the grounds of gender, with women twice as likely to report gender discrimination as men. 13% report discrimination on the basis of class, with post-graduates and others with higher qualifications more likely to report prejudice. Younger people are as likely as older people to report discrimination based on age.

On top of that, the survey found there are disparities in access to upskilling opportunities. While 46% of people with postgraduate degrees say their employer gives them many opportunities to improve their digital skills, just 28% of people with school-leaver qualifications say the same. Industries like retail or transport, which are most at risk of disruption, score just 25% and 20% respectively; while banking scores 42%.

“If current patterns in access to training persist, upskilling will increase social inequality when it should be doing precisely the opposite,” said Bhushan Sethi, Joint Global Leader of PwC’s People and Organisation Practice. “Government and business leaders need to work together to intensify efforts to ensure people in the most-at risk industries and groups get the opportunities they need. Automation and technological disruption are inevitable, but we can control whether its negative effects are managed or not.”

Younger people more focused on maximising income than ‘making a difference’ if forced to choose

Three-quarters of workers globally (75%) say they want to work for an organisation that will make a ‘positive contribution to society.’ This feeling was especially acute in China (87%), India (90%), and South Africa (90%).

However, economic insecurity is limiting people’s ability to pursue purpose driven careers, with younger people particularly affected. Overall, 54% of those polled said, if forced to choose, they would prefer a job that enabled them to ‘take every opportunity to maximise their income’ over a job that ‘makes a difference’ (46%).

Interestingly, those between 18 and 34 are more likely than other generations to prioritise income over purpose in their job with 57% prioritising ‘maximising their income’ over ‘making a difference’ (43%), a margin of 14 points. Those over 55 prioritise making a difference by a margin of 8 points, which rises to 22 points amongst workers over 65.

“As the world continues to grapple with a global health crisis and economic uncertainty, we’ve seen workers come to demand more from the business community, expecting their employers to make a positive contribution to society,” said Peter Brown, Joint Global Leader of PwC’s People and Organisation Practice. “Fortunately, focusing on societal impact and maximising profit are not mutually exclusive, and being a purpose-led business can actually help boost your bottom line.”

Employees want the option to work remotely moving forward

The survey concludes that remote working will persist post-lockdown. Of those who can work remotely, 72% of say they prefer a mixture of in-person and remote working, with only 9% stating they’d like to go back to their traditional work environment full-time. This is particularly true of professionals, office workers, business owners and the self-employed, all of whom are able to perform their jobs remotely using technology. Home working need not be limited to professional jobs. 43% of manual workers and 45% of semi-skilled workers say there are many elements of their job that they are able to do remotely.

People’s attitudes to working from home also change by location, providing further evidence of how the pandemic has increased the global digital divide. Workers in metropolitan areas (66%) are more likely to work in roles that could allow remote working than those who live in rural areas (44%).

Workers torn on privacy and technology

44% of workers globally would agree to let their employer use technology to monitor their performance at work including sensors and wearable devices, with 31% against. However, many would not go as far as allowing their employers access to their personal data. 41% of respondents said that they were unwilling to give their employer access to their personal data including social media profiles, with only 35% willing.

Celebrating five consecutive years as one of BC’s Top Employers

Dentons has been recognised as one of BC’s Top Employers for the fifth consecutive year, reinforcing its status as an employer of choice for exceptional talent. Dentons is proud to have created an environment where its people can develop new skills, create a unique career path, explore and be supported in leadership opportunities, and collaborate with team members across its global platform, in addition to having a positive impact in local communities.

BC’s Top Employers is an annual competition organised by the editors of Canada’s Top 100 Employers. This special designation recognises British Columbia employers who lead their industries in offering outstanding places to work.

“Being recognised as one of BC’s Top Employers for five consecutive years is a huge accomplishment. Our continued success is a result of the commitment, enthusiasm and support for each of our team members,” said John Sandrelli, managing partner of Dentons’ Vancouver office. “We are proud to celebrate 40 years of being a part of the Vancouver community. Providing exceptional client service, taking action to improve our communities and supporting the success of both global clients and local businesses is what makes Dentons a great place to grow a career.”

The focus on its people is just one of the ways that Dentons is doing things differently. The diverse and unique strengths of Dentons’ exceptional talent help define its forward-thinking and inclusive culture. Here are some of the ways Dentons has come together to build the law firm of the future in Vancouver:

  • Participate in a number of activities that promote a healthy lifestyle, including the Rotary Club of Vancouver Bike-A-Thon, Ride to Conquer Cancer, Lawn Bowling, the annual Sun Run and a Healthy Habits Walking Club.
  • Help lead the fight for justice, opportunity and equality in our communities through pro bono and philanthropic commitments, including a week-long campaign in support of the United Way of the Lower Mainland, and pro bono services to the Vancouver Pride Society, assisting with the transition of their annual Pride Parade to VanVirtualPride, an online week-long celebration due to COVID-19.
  • Take time to celebrate success and recognise accomplishments as one team through team celebrations, social events and barbeques.
  • Advance shared commitment of building an inclusive firm by developing diverse learning programs and community-focused initiatives, such as an Indigenous business student summer placement program in collaboration with a client.
  • Foster an eco-conscious environment that promotes wellness though sustainable practices in the workplace through its grassroots Workplace Improvement Sustainability and Health (WISH) Committee, like working with local restaurants to enable Dentons’ people to use reusable containers in lieu of using paper, Styrofoam or plastic to-go lunch boxes.

To learn more about our Vancouver office, career opportunities and how we are connecting BC to the world, visit our Dentons – Vancouver page.

PwC reports global revenues up 3% to US$43 billion

For the 12 months ending 30 June 2020, PwC firms around the world had gross revenues of US$43 billion – up 3% in local currency and 1.4% in US dollars.

During the first nine months of FY20 to the end of March, revenues grew by nearly 7% over the same period last year with increases across all lines of business and in every major market. From April to June, revenues were significantly impacted by the lockdown and subsequent slowing economies as countries around the world fought the COVID-19 pandemic. Compared to the same three months in 2019, revenues were down from April to June 2020 by 6%.

“First and foremost the COVID-19 pandemic has been a human tragedy that has deeply affected the lives of many people around the world including members of our PwC family, their relatives and friends and our heartfelt condolences go out to all those who have lost loved ones,” said Bob Moritz, Chairman of the PwC Network.

“Since the pandemic struck, our priorities have been the safety and wellbeing of our people, protecting and preserving jobs, and helping our clients and the communities in which we live and work deal with the impact of COVID-19. I am proud of what we have done over the last year and the way our people have adapted quickly to a huge amount of change while at the same time continuing to connect, collaborate and innovate for the benefit of our stakeholders across the world.”

“While the last few months have been very challenging for everyone, we have re-focused our business to help our clients manage the immediate impacts of the pandemic and reinvent their businesses for future success. It has never been more important to provide our stakeholders with high quality services. We have also continued our significant investments in technology and upskilling our people to help build a sustainable PwC for the future. Our investment in technology was borne out at the height of the lockdown when 95% of our 284,000 strong workforce were operating out of the office with no interruption to the service we were able to provide”, added Bob Moritz.

Revenues across the world

In the Americas, revenues rose by 3% with a particularly good performance from businesses in the United States and Canada. Revenues in Western Europe were up by 2%, while in Central and Eastern Europe, revenues grew by 4%.

Revenues from the Middle East and Africa rose by 10% with a strong result from the Middle East where revenues were up 14%. Across Asia, revenues grew by 5% while in Australasia and the Pacific, revenues were down 1% reflecting difficult trading conditions throughout FY20.

Regional growth numbers for the full year FY20 mask the impact of COVID-19, with all regions performing as anticipated up to the end of March 2020 and then feeling the full impact of the economic restrictions caused by lockdowns in the months of April, May and June. For the last three months of FY20, in most markets around the world we experienced declines in revenues compared with the same period in FY19 with falls in revenues of up to 30% in certain countries.

Revenues by line of business

Around the world, our businesses are focused on providing high quality services that help our clients respond to an ever more complex and challenging environment and address current and future opportunities. While all our lines of business continued to grow in FY20, each was impacted by the economic effects of COVID-19 and we expect market conditions to be challenging for all our operations as we go into our new financial year.

Assurance: Assurance remains PwC’s largest operation across the world and our brand defining business, serving key stakeholders and helping to build trust in the world’s capital markets. In FY20, revenues from our assurance operations grew by 3% to US$17.6 billion, driven by continued strong demand for our core audit. As management and other stakeholders seek insight into operations, risks and performance, and to increase confidence and resilience in business, we have seen continued strong growth in our broader assurance services, such as internal audit and governance, risk and controls. Demand for our digital risk solutions has also remained strong as companies look for support as they accelerate their transition to the Cloud. With almost 119,000 professionals, PwC is the world’s largest provider of assurance services.

Advisory: PwC Advisory operations grew by 4% to US$14.7 billion. This growth was driven by high demand across the world for advice on strategy, business transformation and value creation in the first nine months of the financial year. Our advisory business differentiates by bringing together consulting, deals and cybersecurity professionals, and our operations benefited from increased teaming with our tax and risk assurance colleagues to provide a more integrated service for our clients that gives the advice and support they need from strategy right through to execution. PwC Advisory now employs over 71,000 people.

Tax & Legal Services: PwC Tax & Legal revenues grew by 2% to US$10.7 billion, with demand for tax reporting and strategy, people and organisation and legal services in the first nine months of the year offset by the impact of the pandemic in the final three months. Guided by our PwC Global Tax Code of Conduct, the over 55,000 professionals in our Tax & Legal Services teams use their knowledge and expertise to help clients – ranging from individuals to the largest global corporations – to navigate complex and challenging environments, address people and legal issues, and comply with their tax and reporting responsibilities.

The year ahead

“While we adapted quickly to many of the new challenges that the COVID-19 pandemic brought, there is no doubt that the next 12 months and beyond are going to be difficult. Our economists are predicting that the global economy will contract by 5.5 % by the end of 2021 and while different countries will recover at different rates it is clear that the economic downturn will impact us and our clients across the world,” said Bob Moritz.

We are now very clearly focused on a number of priorities.

  • Jobs: Doing the right things to preserve jobs for our people, continue to invest in building the workforce PwC needs for the future, while maintaining the sustainability of our operations. Unfortunately we have seen some job losses in a few markets around the world, particularly in the advisory business, but we are working hard to limit these by containing non-essential costs and investments.
  • Safety and Wellbeing: Where we are returning to office based work, ensuring that our people are safe and comfortable and that we have processes and technologies in place to protect our people in line with relevant safety protocols. And where our people remain working from home, we continue to provide the support that they need to meet the challenges this can bring.
  • Quality: The uncertainty created by the pandemic and its economic impact has placed an even greater focus on the importance of trust in institutions, information and increased transparency. Investing in the enhancement of the quality of all of the services we provide to our stakeholders remains our number one priority, including continuing to invest the US$1 billion we announced last year to drive quality and innovation by making us the most cloud-enabled organisation in the world.
  • Clients: Supporting our clients across the world as they deal with the impact of the pandemic and look to restart operations, repair their balance sheets and rethink their business models.
  • Innovation: Driving and scaling up innovation right across our network and the development of new products and services. As our stakeholders grapple with the challenges of the current economic environment, it is vital that we are able to advise and support them on the best ways to construct sustainable businesses for the future.
  • Upskilling: Upskilling our own people and collaborating with UNICEF in support of Generation Unlimited to help upskill young people across the world has become even more important as the pandemic has accelerated the use of technology and remote working. Despite the economic uncertainty, we continue to invest heavily to help our own people and others better prepare for the new world of work.
  • Diversity and Inclusion: Redoubling our efforts to create a PwC culture where everyone feels valued, listened to and has the opportunity to grow and succeed and taking a leading role in the global dialogue on diversity. We have created our first global diversity and inclusion leadership council.

“The pandemic brought many challenges but it also brought the opportunity to reflect and to some degree rethink the future. How we work together, how we use technology, what real estate we need, whether we need to travel so much, how to innovate, how to connect with our stakeholders and how to prioritise our health and wellbeing. These are all issues that we are actively working on as we think about the PwC of tomorrow,” said Bob Moritz.

The PwC Global Annual Review will be published in October 2020 and will cover in more detail how PwC responded to the COVID-19 pandemic, the work that we do with our clients, stakeholders and the communities where we operate, how we supported our people, the results of our quality inspections and how we are embedding a high-quality culture across PwC, and the actions we are taking relating to important issues such as diversity and inclusion.

Clifford Chance listed 19th in the Stonewall Top 100 Employers

International law firm Clifford Chance has been ranked 19th in this year’s Stonewall Top 100 Employers List for 2020 – the sixth highest law firm in the list.

Now in its 16th year, the list celebrates the pioneering efforts and commitments of leading organisations to LGBT workplace inclusion. This year’s list, which was the largest ever with 503 employers entering, was developed using submissions to the Workplace Equality Index, a powerful benchmarking tool used by employers to create inclusive workplaces.

Toby Horner, Co-Chair of Clifford Chance’s LGBT+ & Allies Network ARCUS, said: “This result reflects our inclusion efforts at every stage from entry level recruitment through to reverse mentoring members of our Executive Leadership Group. Collaboration is core to our work and we have focused more than ever on our LBT strategy – an area which can often be overlooked. Whilst we still have steps to take to represent the full spectrum of LGBT diversity within the firm, we are committed to keeping our foot on the pedal and removing barriers wherever possible.”

Michael Bates, Clifford Chance UK Managing partner, comments: ”We are delighted that our commitment to maintaining an inclusive environment for our people has been recognised in this year’s Stonewall index. However, we cannot afford to be complacent. We know that there is more work and campaigning to be done to provide a workplace and society where people can be their full authentic selves, without fear of exclusion or discrimination.”

Clifford Chance’s inclusion in the index complements the firm’s extensive portfolio of global LGBT initiatives including: the ARCUS reverse mentoring scheme with the firm’s senior management team; the annual Pride Art exhibition that celebrates LGBT pride and fosters diversity and inclusion; and the commissioning of the largest piece of research on LGBT wellbeing with Trendence, Deutsche Bank, the University of York and National Student Pride.

Further information on Clifford Chance’s commitment to LGBT+ rights and equality can be found in its annual Responsible Business Report, which the firm publishes in accordance with the United Nations Global Compact.

If you would like to find out more information, please visit: https://www.stonewall.org.uk/

Facebook to add 1,000 jobs in Ireland in 2019

Facebook is to hire an additional 1,000 people in Ireland over the course of 2019. The extra roles will be created across 60 teams, including the social media giants’ engineering, safety, legal, policy, marketing and sales teams.

The roles will based on its Ballsbridge campus which was previously home to AIB.

The expansion will bring the total number of people employed across its centres in Cork, Dublin and Meath to 5,000.

The announcement was made in Dublin today by the company’s chief operating officer, Sheryl Sandberg, while she attended Facebook’s Gather event in Croke Park.

More than 500 small and medium businesses from Ireland and across the EMEA region attended the event.

Speaking on one of Facebook’s priorities in 2019 to earn users’ trust, Ms Sandberg said: “Facebook is a very different company to what it was in 2016 or even a year ago”.

She detailed the steps the company has taken, and will be taking, in key priority areas including “the safety and security of Facebook’s users; the commitment to cracking down on fake accounts and false news; strengthening defences against election interference; and being even more transparent in how it operates and makes decisions, to make itself more publicly accountable”.

Meanwhile, Head of Facebook Ireland, Gareth Lambe, admitted today that the company is concerned about the current housing crisis gripping the country.

However, he says it is not something which has stunted Facebook’s growth, and insists he has faith in how the government is tackling the problem.

“We’re concerned, of course; to date, it hasn’t been a blocker for us hiring, we have over 4,000 people here in Ireland and announcing another 1,000 today is a big investment,” he said.

POP OUT We support all the government’s initiatives, we think they’re doing all the right things around planning, reform and cost benchmarking and all the infrastructure reform that we’re doing.

“We think that will release this glut in a few years, we see it being not as bad in a few years,” he said.

It was also announced today that Facebook would triple its investment in online safety programmes run by the National Anti-Bullying Centre (ABC) and SpunOut.ie, bringing the total investment to €1m.

The funding will go towards research and an online training program for teachers and parents of secondary school students.

An online safety resource for teenagers will also be created in partnership with SpunOut.ie.