Latest news with #Deel
Independent Singapore
3 days ago
- Business
- Independent Singapore
With costs rising, S'pore companies freeze wages and look abroad for AI skills
SINGAPORE: Singapore businesses are being squeezed by rising costs from global uncertainty and the need to invest in innovation to stay ahead, said Deel's Head of Global Policy, Nick Catino, at this week's AI Summit. A survey conducted by Milieu Insight in April 2025, commissioned by Deel, found that 81% of businesses were affected by global tariffs, while 56% faced higher operational costs. These pressures have led 60% of companies to freeze wages, 48% to reduce hiring, and 43% to lay off staff. The survey gathered responses from 350 Singapore-based business leaders and managers across both SMEs and large enterprises. To cope with these challenges, about one in three Singaporean businesses (31%) have sped up their AI or automation efforts. Among those using AI, 71% saw increased efficiency and productivity, 61% reported smoother operations, and 50% cut costs. However, wage pressure was higher among the 86% of companies further along in AI adoption. 'Even those leading AI adoption are feeling the strain, showing that economic headwinds are impacting all levels of digital transformation,' Mr Catino said, noting that while AI adoption can help with productivity and cost savings, it is not a 'silver bullet for macroeconomic pressures.' He added, 'Many businesses remain cautious, either due to the upfront investment required or uncertainty about long-term returns, meaning these benefits remain out of reach for the majority who have yet to adopt AI at scale.' Despite Singapore's status as a digital hub, 68% of businesses in the city-state are still in the early stages of AI adoption, with enterprises (43%) making more progress than small and medium-sized enterprises (SMEs) (12%), partly due to a shortage of AI talent. Nearly half (47%) of respondents said the local talent pool is not enough to meet the demand, citing difficulty with recruiting locals' high salary expectations (51%), limited career development opportunities (50%), and skill mismatches (47%). Notably, three in five organisations reported lacking AI expertise. Currently, only 20% of local businesses have allocated a dedicated budget for reskilling. To address this demand, 62% of businesses said they're open to hiring overseas talent. Respondents said that government support (92%), financial support (42%), upskilling (26%), and technical or advisory support (15%) are crucial for AI adoption. Meanwhile, 57% of respondents said they want stronger regulatory guardrails. According to the report, only 5% are actively engaging with Singapore's National AI Strategy (NAIS 2.0), while 95% know little or nothing about the country's AI governance framework. On Tuesday, the Infocomm Media Development Authority (IMDA) announced 800 practitioner jobs and training opportunities for locals to meet the demand for AI talent. 'With economic uncertainty and tariff pressures mounting, Singaporean businesses should ensure AI investments deliver tangible results in productivity, efficiency and margin resilience,' Mr Catino said. /TISG Read also: SME Association warns some Singapore firms could enter 'life support mode' as US tariff pause nears end
Axios
21-05-2025
- Business
- Axios
Rippling and Deel fracas pulls in a third "unicorn"
The corporate espionage fight between Rippling and Deel again has escalated, and this time appears to involve a third HR software "unicorn." Catch up quick: Rippling sued Deel in March, accusing Deel of hiring a spy inside of Rippling. Deel, which is valued by VCs at around $12 billion, denied the allegation and countersued for defamation. Rippling last week announced $450 million in new funding at a $16.8 billion valuation, and also said it would launch a $200 million tender offer for current and former employees. Fast forward: The tender launched Monday, and related documentation included some information on the Deel conflict in its "Risk Factors" section. It then dropped two bombshells. The first was a claim that Rippling has reported Deel's alleged conduct to U.S. federal law enforcement, as NY Times was first to report, and that Rippling "understands" that there is "an active criminal investigation." The second is an allegation that Globalization Partners "has also discovered and reported similar conduct to U.S. federal law enforcement and that an active criminal investigation into that conduct is ongoing." Zoom in: Globalization Partners is a Boston-based employment software firm that in 2022 raised $200 million from Vista Credit Partners at a $4.2 billion valuation. It hasn't addressed the Deel situation, nor has it sued civilly, but a source familiar with the company says that language in the Rippling tender is an accurate representation of its position. What they're saying: "This is the latest example of Rippling trying to use the court of public opinion to drive its years-long smear campaign against Deel," a Deel spokesperson tells Axios. "This media cycle is proof," she continues. "We are not aware of any active investigations into our business. As detailed in our lawsuit, Rippling has a long history of making false or sensationalized allegations to governmental authorities about competitors, which prompt 'inquiries' from the government that Rippling then leaks to the media." The bottom line: Most customers are unlikely to care about a civil dispute between rivals, so long as the software works. But criminal proceedings would be a much different animal, particularly in a sector where compliance plays a major role.
Yahoo
19-05-2025
- Business
- Yahoo
Deel wants Rippling to hand over any agreements involving paying the alleged spy
Deel has lobbed a new volley in the ongoing legal battle with rival HR tech startup Rippling. Deel filed a motion, containing a series of letters, asking the Irish court to make Rippling hand over information. In one letter, Deel wants unredacted versions of witness affidavits, including the famed one by former Rippling employee, Keith O'Brien. In a story full of plot twists that reads like a movie, O'Brien admitted in an Irish court to being a spy for Deel, according to the affidavit released by Rippling. Rippling filed a lawsuit against Deel in March that alleges misappropriation of trade secrets, tortious interference, unfair competition, and more, largely based on the spying allegations. Deel has since countersued, attempting to get Rippling's suit dismissed on a series of issues like jurisdiction, but also making its own allegations about Rippling. Deel alleges, for instance, that Rippling was also attempting to spy on Deel. In the letters publicly released Monday, Deel is pointing to an affidavit from Rippling employee, Vanessa Wu, formerly Rippling's general counsel. Much of the affidavit recounted what Wu recalled of alleged spy-related happenings and her take on various letters sent between the two sides' lawyers. But Deel points out Wu also testified that Rippling fired O'Brien and paid him a termination fee in exchange for him signing an agreement not to sue. Wu also testified, the affidavit said, that Rippling entered into a second agreement with O'Brien where Rippling 'agreed to contribute towards Mr. O'Brien's costs of these proceedings and to pay his reasonable out of pocket and legal expenses in connection with the cooperation to be provided under that agreement.' Deel wants a court to make Rippling turn over full unredacted versions of both of those agreements. It wants to tell anyone who will listen how unusual it is that an employee fired for cause winds up back on a company's payroll as a paid witness. Needless to say, both sides vehemently proclaim their own innocence while pointing fingers at the other. We'll have to wait and see what the court rules, but if it does make more of O'Brien's testimony and those termination agreements publicly available, we'll be reading. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
19-05-2025
- Business
- TechCrunch
Deel wants Rippling to hand over any agreements involving paying the alleged spy
Deel has lobbed a new volley in the ongoing legal battle with rival HR tech startup Rippling. Deel filed a motion, containing a series of letters, asking the Irish court to make Rippling hand over information. In one letter, Deel wants unredacted versions of witness affidavits, including the famed one by former Rippling employee, Keith O'Brien. In a story full of plot twists that reads like a movie, O'Brien admitted in an Irish court to being a spy for Deel, according to the affidavit released by Rippling. Rippling filed a lawsuit against Deel in March that alleges misappropriation of trade secrets, tortious interference, unfair competition, and more, largely based on the spying allegations. Deel has since countersued, attempting to get Rippling's suit dismissed on a series of issues like jurisdiction, but also making its own allegations about Rippling. Deel alleges, for instance, that Rippling was also attempting to spy on Deel. In the letters publicly released Monday, Deel is pointing to an affidavit from Rippling employee, Vanessa Wu, formerly Rippling's general counsel. Much of the affidavit recounted what Wu recalled of alleged spy-related happenings and her take on various letters sent between the two sides' lawyers. But Deel points out Wu also testified that Rippling fired O'Brien and paid him a termination fee in exchange for him signing an agreement not to sue. Wu also testified, the affidavit said, that Rippling entered into a second agreement with O'Brien where Rippling 'agreed to contribute towards Mr. O'Brien's costs of these proceedings and to pay his reasonable out of pocket and legal expenses in connection with the cooperation to be provided under that agreement.' Deel wants a court to make Rippling turn over full unredacted versions of both of those agreements. It wants to tell anyone who will listen how unusual it is that an employee fired for cause winds up back on a company's payroll as a paid witness. Techcrunch event Join us at TechCrunch Sessions: AI Secure your spot for our leading AI industry event with speakers from OpenAI, Anthropic, and Cohere. For a limited time, tickets are just $292 for an entire day of expert talks, workshops, and potent networking. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | REGISTER NOW Needless to say, both sides vehemently proclaim their own innocence while pointing fingers at the other. We'll have to wait and see what the court rules, but if it does make more of O'Brien's testimony and those termination agreements publicly available, we'll be reading.
Straits Times
19-05-2025
- Business
- Straits Times
Americans in race for European residency see doors slamming shut
The UK saw record numbers of Americans apply to become British citizens in 2024. PHOTO: AFP WASHINGTON – A rising number of Americans are exploring a move overseas to escape the tumult of Mr Donald Trump's administration. But those looking to Europe are seeing their options narrow by the day. Restrictions on skilled worker visas, tougher rules on citizenship-by-ancestry programmes and pressure on the once widespread golden visa programmes are all eroding the legal avenues Americans – and other migrants – can take to live in Europe. Popular nations such as Italy, which once offered flexible rights to those who could show ties to the country, are making the move more difficult. The changes are fuelling a race among those Americans with a clear shot at residency on the continent, such as through direct family, to secure visas and passports while they still can. Others are exploring creative strategies, ranging from nomad visas to permits intended for retirees. And for some specialists, universities and research institutes across Europe are looking to attract scientists who've lost their jobs in the US, or are worried about further cuts to federal funds. Data from San Francisco-based global human resource company Deel shows a 16 per cent increase in the number of Americans hired by European companies between January and April. At the same time, there's been a surge of people searching for jobs in Ireland and Portugal, according to recruitment website Glassdoor. 'It's definitely different from what we've ever seen,' said Ms Kelly Cordes, founder of Illinois-based Irish Citizenship Consultants. 'People are really worried, they have this sense of urgency to have citizenship.' Ms Cordes is filing 20 to 25 applications for Irish citizenship per week for her US clients, compared to about 10 weekly in 2024, when a record 32,000 Americans sought Irish citizenship. People can usually qualify if their parents or grandparents came from the country. While many used to view the passport as a 'plan B' in case they at some point wanted to leave, more in 2025r are now actively exiting, she said. Italy, like Ireland, counts a huge diaspora in the US and is tightening its citizen-by-descent rules to only allow those with Italian parents or grandparents to apply. The government passed an emergency decree stripping back programmes in March, when previously people could apply if they could trace family roots as far back as the founding of modern Italy in 1861. The UK has also been tightening rules. The country saw record numbers of Americans apply to become British citizens in 2024. After increasing the salary threshold for people requesting spousal visas and restricting student visa-holders from bringing partners and children, the government in May proposed stricter rules still, including higher salary ranges and graduate-level requirements for work visas and an increase in the number of years a person needs to stay in the country before gaining permanent residency. Another avenue used by wealthy Americans to acquire residency in recent years has been so-called golden visas. They typically grant residency rights – and eventually EU citizenship – to those investing in local real estate or business funds. There too, the door has been gradually closing. Spain recently abolished them, as did the UK in 2022, while countries including Portugal and Greece imposed restrictions. The UK in May said it's considering a new investor visa. Still, in a pessimistic note for investor visas remaining on the continent, the EU's Court of Justice in April ruled that Malta's golden passport was illegal. Ms Samantha Wilson, founder of Florence, Italy-based relocation company Smart Move Italy, says demand for investor, retiree and digital nomad visas has tripled in 2025 compared with the final months of 2024. Nomad visas often afford tax breaks and residency for remote employees, while investor visas are for those willing to bring in large sums of cash. Retiree, or pensionado visas, are usually granted by countries to individuals who can demonstrate they have enough income each month to sustain themselves. Ms Heather McLean, a 50-year-old retired police officer in Stillwater, Minnesota, is looking at that last option. She had no plans to leave the US until the election in November, but is now actively looking to move to either France or Spain, gathering documents and researching visas. Her husband, a hydrogeologist working in an environmental state agency, is concerned that federal funding cuts could eliminate his job. He's considering early retirement so they can both get a retiree visa, even if their income will take a big hit. 'It's a dramatic change for us,' Ms McLean said. 'We had no intention of pulling our son out of school or uprooting our family. But things are dramatically different now than they were six months ago.' Digital nomad visas are a legacy of Covid-19 when home and remote work became the norm and countries sought to attract newly footloose workers. Today, some US citizens are seeing them as a valuable way to get a foothold on the continent. Ms Jacqueline Ballone, 43, is seeking to leave her home in Portland, Oregon to work remotely from Italy's Umbria region and be close to her parents, who moved there a few years ago. She and her husband are anxious to get residency, fearing more restrictions ahead after the rules already changed once during her application process for the nomad visa. While she'd thought of leaving the US during the Covid-19 pandemic, she says she's become alarmed by recent developments at home, including worries about her safety as a woman. She cites parades by the far-right political group Proud Boys in her neighbourhood and neo-Nazi graffiti as some of the concerns pushing her to start a new life overseas. 'We want to exit,' she said. 'I'm at my maximum capacity of witnessing this.'' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
