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European Edition
21st February 2025
 
THE HOT STORY
Reverse mentoring drives diversity
The UK legal profession is witnessing a shift towards "reverse mentoring," whereby junior lawyers mentor their senior counterparts to enhance inclusivity and understanding of diverse backgrounds. In the Times, Geraldine Stephens, an associate at Clarke Willmott, shares her experiences with Stephen Rosser, the firm's chief operating officer, highlighting the importance of exploring knowledge gaps and fostering a more inclusive workplace. "Where you come from . . . has a massive impact on your career and life chances," she says. Similarly, Myles Henry, a young associate at Clifford Chance, mentors Nick Spurrell, a partner, discussing workplace biases and inclusivity. Spurrell notes the scheme's role in reinforcing a culture of meritocracy and mutual respect.
WORKFORCE
Belgium braces for week-long rail strike
Belgium is set to face significant transport disruptions as trade unions have called for a rail strike starting at 22:00 on Friday and lasting until March 2. The strike, involving the SIC and SACT/ASTB unions, is a response to measures in the new government coalition agreement. The Belgian railway operator SNCB described the strike as “unacceptable, irresponsible and disproportionate,” and highlighted a lack of consultation with the unions. Approximately 900,000 passengers daily are expected to be affected, with services running but timetables not available until 24 hours in advance.
Greek hospitality workers to see pay rise
Greek hospitality workers will benefit from an 8% salary increase by the end of 2026, following a new labour agreement between the Hellenic Hoteliers Federation (POX) and the Panhellenic Federation of Food and Tourism Workers (POEET). The agreement, effective until December 31, 2026, includes a 5% wage rise in 2025 and an additional 3% in 2026. As of January 1, 2025, average salaries will reach €1,000 for Category A workers and €950 for Category D workers. POX President Yannis Hatzis said that these rates are "14.5% higher than Greece's legal minimum wage."
DIVERSITY, EQUITY, & INCLUSION
Citigroup retreats from DEI initiatives
Citigroup chief executive Jane Fraser has said that the bank will no longer require a diverse pool of candidates for job interviews, and will only maintain "aspirational representation goals" where mandated by local law. Meanwhile, Citigroup's Diversity, Equity and Inclusion and Talent Management team will be rebranded as Talent Management and Engagement. "It is important to note that we're living in an environment where things are changing quickly," Fraser wrote, adding that the bank will still encourage "the best practice of having a variety of perspectives included in hiring decisions."
REMOTE WORKING
Remote working 'gave cover for insider-trading scheme'
A former Janus Henderson analyst used confidential information to make nearly £1m (€1.2m), prosecutors have told Southwark Crown Court in London. Redinel Korfuzi has been charged on a count of insider dealing and money laundering between January 2019 and March 2021. His sister, Oerta Korfuzi, has also been charged, alongside two other members of a ring who prosecutors say acted as "secret proxies" for the insider trading. Tom Forster, a prosecutor representing the UK's Financial Conduct Authority, said the defendants “took advantage of the cloak afforded by national lockdown restrictions . . . to take the opportunity to execute . . . their secret plan to conduct criminal trading.” Janus Henderson is not involved in the criminal case and the City watchdog said the asset manager has co-operated fully with its investigation.
STRATEGY
New Look ends Irish operations
Retailer New Look is to enter liquidation in Ireland, resulting in the closure of 26 stores and the loss of approximately 350 jobs. The High Court approved the appointment of provisional liquidators as the company cited "sustained losses and challenging market conditions" as reasons for the decision. New Look employs a total of 347 people across its network in the Republic of Ireland. The company said a 30-day staff consultation process will commence over the coming days.
Addleshaw Goddard expands into Poland
Law firm Addleshaw Goddard has announced the opening of its new office in Poland, following the acquisition of Linklaters' 80-lawyer Warsaw team. This strategic move, described by managing partner Andrew Johnston as a “milestone” in the firm's international expansion, aims to enhance AG's service capabilities across Poland, Central and Eastern Europe, and Turkey. The new office, which will be led by Linklaters' Warsaw managing partners Janusz Dzianachowski and Marcin Schulz, marks AG's 20th global location and continues its growth trajectory, having opened seven offices in Continental Europe since 2019.
INTERNATIONAL
Eliminated FAA staff 'had direct roles in supporting safety inspectors'
The recent layoffs at the US Federal Aviation Administration (FAA) have raised safety concerns among unions. Approximately 400 personnel were let go, including aviation safety assistants and maintenance mechanics. David Spero, president of the Professional Aviation Specialists Association, observed: “All of these people are part of the safety net. The more of them that are not there, the more difficult it becomes to do the actual safety oversight.” The cuts come amid declining public confidence in air travel. A recent poll indicated that only 64% of U.S. adults now view plane travel as “very safe” or “somewhat safe.” Spero added: “What I would hope is that the FAA would reinstate these people . . . And then if they need to assess the size of the government, actually, the FAA can do it in a thoughtful and methodical way to make a determination as to what are the impacts to aviation safety.”
Peru's illegal miners 'use children as shields'
Teófilo Kukush, president of the Wampís community in Peru, is urging the country's government to declare a state of emergency due to the alarming situation surrounding illegal miners. He said: “They are using children between five and 10 years old as human shields.” The illegal mining operations have resulted in significant violence, with at least 30 fatalities reported over the past two years. Despite having 85,000 registered artisanal miners, only 20% possess formal permits, leading to rampant illegal activities. The Superintendency of Banking, Insurance and Private Pensions reported $1.096bn in operations linked to illegal mining from January to October last year.
OTHER
Birkenstock sandals not art, rules German court
A German court has ruled that Birkenstock sandals do not qualify as works of art. The company had argued its footwear could be classified as art and so was protected by copyright laws in a case it put forward to stop rivals selling copycat versions. But a judge dismissed the claim, saying the shoes were practical design items. Despite the legal blow, Birkenstock has received a boost with better-than-expected sales in the first quarter. The brand's quarterly revenue was €361.7m in the three months to December 31, exceeding analyst expectations of €356.2m.
 


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