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European Edition
18th March 2025
 
THE HOT STORY
Audi to cut 7,500 jobs in Germany
Volkswagen-owned Audi plans to reduce its workforce in Germany by up to 7,500 positions by 2029, representing approximately 14% of its German staff. The cuts will not impact factory workers. Audio chief executive Gernot Döllner said: “Audi must become faster, more agile and more efficient.” The decision is part of a broader strategy by Volkswagen CEO Oliver Blume, who is implementing spending cuts across the group to improve competitiveness. Last year, Audi's deliveries fell by 12%. Audi confirmed that the job reductions will occur without any firings, and also that the company plans to invest around €8bn  in its German operations during this period.
WORKFORCE
Workers in Portugal seek new jobs
Nearly 46% of workers in Portugal say they are contemplating job changes within the next year, driven by dissatisfaction with current salaries and a desire for better work/life balance. Inês Almeida from HR consultancy AON highlights that “52% of workers describe their financial situation as ‘I have just enough to survive',” which is notably higher than the global average of 34%. Furthermore, less than half of the respondents are satisfied with their employer's benefits, and 33% feel undervalued. Almeida warns that this sense of devaluation is prompting many to seek recognition elsewhere. She emphasises the need for companies to enhance employee appreciation strategies, particularly in skills development; only 35% of workers believe their employers are investing in their future training.
French dockers cancel March strike plans
The French union CGT Ports and Docks has cancelled planned strikes and port blockades that were set to disrupt cross-Channel ferry traffic. Initially scheduled to start today, the strikes aimed to protest pension reforms affecting dock workers, who traditionally retire earlier due to the demanding nature of their jobs. Following discussions with the French ministry of labour and the prime minister's office, the union noted "the government's willingness to continue negotiations, which will hopefully be conclusive as soon as possible." While the immediate strikes are off, the union warned of potential new industrial action in April if the government fails to meet its commitments. .
Nationwide rail strike in Spain called off
A seven-day Spanish rail strike planned for March and April 2025 has been cancelled following a successful agreement between the parties involved.
HEALTH & WELLBEING
UK workers consider quitting due to poor mental health
The UK's economic inactivity problem is being exacerbated by employees contemplating leaving their jobs due to mental health concerns. A survey by PwC and Focaldata reveals that 10% of workers are "considering leaving work for an extended period," with 25% of those aged 16-24 contemplating quitting. The inactivity rate has risen since the pandemic, peaking at 22.2% last summer, and currently stands at 21.5%, affecting 9.3m people. The Institute for Fiscal Studies reports that over half of the increase in disability benefit claims is linked to mental health issues. Marco Amitrano, senior partner at PwC UK, said: "Much of the current conversation focuses on how to get people outside the workforce back in; equally important is stemming the flow leaving the workforce in the first place."
STRATEGY
Russia's M.Video to spend $350m on store openings
Russian consumer electronics retailer M.Video is to spend an extra $350m on store openings as part of the implementation of a three-year strategy that will also see it expand into new cities and grow online sales in the first half of 2025.  The Kommersant and Vedomosti newspapers reported earlier this year that the sanctioned state-owned defence sector lender Promsvyazbank is in talks to buy M.Video in a move that could help the retailer solve growing debt problems.
CORPORATE
AirFrance-KLM bids for Air Europa
AirFrance-KLM has proposed a €300m offer for a 51% stake in Air Europa, according to a report in El Confidential. The offer, made to the Hidalgo family, includes taking over the airline's debt sheet with the Spanish government. Lufthansa has also expressed interest, proposing €240m for a 25% stake. Luchtvaartnieuws notes that Lufthansa has been seen as a frontrunner in the acquisition race, having previously collaborated with Air Europa. The Hidalgo family has been seeking to sell the airline for some time, with past negotiations with British Airways and IAG failing to materialise.
TECHNOLOGY
JPMorgan coding assistant boosts engineer efficiency
A coding assistant tool developed by JPMorgan Chase has enabled its software engineers to deliver products 10% to 20% faster, according to the firm's global chief information officer Lori Beer. Speaking ahead of internal JPMorgan conference DevUp in India, Beer remarked: "Success is if we continue to articulate that it's not just an incremental shift with artificial intelligence (AI), but we're transforming and creating value." She went on to say: "There's so much productivity and opportunity as we think about a world with AI. We've grown rapidly . . . You're going to see us continue to optimize the footprint we have."
INTERNATIONAL
Trump moves to close down Voice of America
President Donald Trump has signed an order to strip back federally funded news organization Voice of America (VOA). A White House statement said the order would "ensure taxpayers are no longer on the hook for radical propaganda." VOA, which is still primarily a radio service, says it currently reaches hundreds of millions of people globally each week. The president's order targets VOA's parent company U.S. Agency for Global Media (USAGM). It tells managers to "reduce performance . . . to the minimum presence and function required by law." VOA employees were reportedly notified in an email by Crystal Thomas, the USAGM human resources director. Mike Abramowitz, VOA's director, said he and virtually his entire staff of 1,300 people had been put on paid leave. Abramowitz said that the order left VOA unable to carry out its "vital mission . . . especially critical today, when America's adversaries, like Iran, China, and Russia, are sinking billions of dollars into creating false narratives to discredit the United States."
North Korean IT workers face brutal workloads
North Korean IT workers are subjected to severe human rights abuses under the Kim Jong-un regime, according to a report titled "Decoding Crimes: Unveiling North Korea's Cyber Threats" by Pscore. The report reveals that these workers endure gruelling conditions, and work over 10 hours daily under strict surveillance and intense pressure to meet quotas. Jasmin Ringel, a researcher at Pscore, said: “Due to their precarious working and living conditions, we believe that even the regime's highly skilled workers are deprived of various human rights.” Many workers live in cramped spaces, face psychological trauma, and are coerced into remitting 90% to 95% of their earnings to the government. 
Unions demand fair treatment for women in China
Several provincial trade unions in China are advocating for improved treatment of female jobseekers and employees to safeguard women's labour rights and promote gender equality. The Hunan Federation of Trade Unions has warned employers against gender-based hiring practices, saying that "a woman's gender, marital status or fertility status should not be grounds for denying her a job." The unions are calling for clear labour contracts that outline rights, including maternity leave, and emphasise "equal pay for equal work." A report by recruitment portal Zhaopin reveals that 62.5% of surveyed female workers faced questions about their marital or fertility status during interviews, compared to only 18.5% of male workers.
 


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