The latest business Intelligence for HR professionals and people managers everywhere
Sign UpOnline Version
European Edition
28th March 2025
Together with


THE HOT STORY
Stress levels soar among workers in Luxembourg
Olivier De Schutter, the UN special rapporteur on human rights and extreme poverty, has highlighted an alarming rise in workplace stress in Luxembourg, where half of surveyed employees have reported "high levels" of mental distress. He addressed what he described as a “burnout epidemic” in a lecture in Luxembourg this week. De Schutter, a professor of law at UCLouvain and Sciences Po Paris, noted "growing insecurity for employees, with increasing difficulty in reconciling their professional and personal lives." He focussed on two developments: increasing inequality and economic insecurity. "Inequality leads to comparisons with one's neighbours, anxiety, fear of social downgrading and a weakening of social ties . . . People are very uncertain about their professional future."
EMPLOYEE BENEFITS
How benefits are moving the needle on organisational success

Benefits matter. There’s no doubt they have enormous value for both organisations and employees.

Yet, the true impact of benefits isn’t always measured and reported on, beyond clicks...

Download Benifex’s latest report, Metrics that matter, to see how the right benefits – designed in the right way, and delivered with the right technology –
can impact organisational success.

Bringing together Benifex original research, customer stories and expert
considerations, this report shows the real impact of benefits on
productivity, employee loyalty, diversity, business growth, profitability...

Get your copy here. 

 
RISK
EU calls for households to stockpile 72 hours of food amid war risks
The European Commission is advising people in the European Union to stockpile enough food, water and essentials for 72 hours, as part of a strategy that aims to increase readiness for catastrophic floods and fires, pandemics and military attacks. Hadja Lahbib, the European commissioner in charge of preparedness and crisis management, said that concerns differed across the bloc but that all citizens should make an effort to be prepared for emergencies. In a video posted on social media, Lahbib listed items important to have to survive 72 hours in a crisis, from food and water to a flashlight, power bank, radio, cash and medication. "Ready for anything - this must be our new European way of life," she said in a post on X.
WORKFORCE
Dutch hospital strike called off after deal reached on pay
Plans for a nationwide strike by hospital personnel in the Netherlands have been cancelled following a new pay and conditions agreement. After negotiations, unions and hospital management settled on an 8% pay increase over two years, which will impact 225,000 workers. The FNV trade union had initially sought a 7% rise for 2025, while hospitals proposed a 4% increase for 2025 and 2% for the following year. The FNV said: "The new deal will benefit a significant number of healthcare workers." There will also be an “improvement of the irregular hours allowance which also applies to Saturday mornings,” a “changing clothes allowance” and agreements on decision making and safety. In addition, there will be more possibilities to stop working at an earlier stage.
Thousands of jobs at risk as British Steel threatens closure
British Steel is launching a consultation that could see the closure of its two blast furnaces at Scunthorpe in the UK, putting up to 2,700 jobs at risk out of a workforce of 3,500. The company said the blast furnaces were "no longer financially sustainable" due to tough market conditions, the imposition of tariffs and higher environmental costs. The BBC understands British Steel was expecting a £1bn (€1.2bn) injection of government money to keep the business going, but was offered £500m. The Prime Minister's official spokesperson said the government had made a "generous offer" to British Steel and it would continue to work with the company and its Chinese owner Jingye to secure its future. British Steel chief executive Zengwei An said the consultations on the closure were "a necessary decision given the hugely challenging circumstances the business faces." British Steel has been owned by Jingye since 2020. 
Workers at the Ikea stores in Haarlem and Amsterdam begin strike
Employees at Ikea stores in Haarlem and Amsterdam are set to strike for 24 hours on Friday, as part of a push for a new collective bargaining agreement. The FNV trade union is demanding a 7% wage increase, which board member Danielle Wiek believes would adequately compensate for inflation and enhance staff purchasing power. In contrast, Ikea's last offer was only 2.4%. The company argues that salaries have already risen significantly in recent years, making them relatively high for the retail sector, and cites cost increases and declining turnover as reasons for limited wage flexibility. Workers are also urging that work pressure be reduced. 
REMUNERATION
HSBC axes bankers before bonuses
HSBC has adopted a more stringent cost-cutting approach under new CEO Georges Elhedery, who recently terminated investment bankers just before they were to receive their bonus figures. Many affected employees, particularly those at vice-president level and above, received no bonuses, which those close to the lender said was unusual for a bank known for "looking after [its] people."
TRAINING & DEVELOPMENT
Pepsico invests in future talent in Romania
PepsiCo has invested $137,000 in a new Training Center at its East Balkans beverage plant in Dragomirești-Deal, aimed at enhancing the skills of both employees and students. The facility, equipped with advanced technology, will provide hands-on training for PepsiCo employees to become internal trainers, thereby improving maintenance processes and production efficiency. Silvia Petre, HR Director of PepsiCo East Balkans, said: “Through this initiative, we aim to provide our colleagues and future industry specialists with a highly practical learning experience.” The investment follows a previous $13m investment in a fully automated production line, highlighting PepsiCo's commitment to innovation and education in Romania, where it has invested $320m over the past decade.
STRATEGY
Bosch to cut 60 jobs in Poland
Bosch has announced layoffs at its Brake Systems Factory in Mirków, with up to 60 employees set to lose their jobs. The decision is part of a broader global workforce reduction affecting approximately 8,250 employees, as revealed by the company last year. Bosch, which has been operating in Poland since 1992, currently employs over 9,700 individuals across five locations. The company has not indicated if further layoffs are imminent. The job cuts are part of a restructuring strategy in response to evolving market conditions and technological advancements in the automotive sector.
Deutsche Bank extends Sewing's contract
Deutsche Bank has announced the extension of CEO Christian Sewing's contract until April 2029, alongside a significant management overhaul. Fabrizio Campelli, currently leading the investment bank, will take on additional responsibilities for the Americas, succeeding Stefan Simon, who is departing "for personal reasons." Raja Akram will replace Chief Financial Officer James von Moltke next year, joining from Morgan Stanley.
ECONOMY
UK living standards set to plummet
Living standards for the poorest half of households in the UK are projected to decline significantly over the next five years, with a potential loss of £500 (€600) per household due to benefit cuts and a weak economic outlook, according to the Resolution Foundation. The decline is comparable only to the early 1990s recession and the 2008 financial crisis. Ruth Curtice, chief executive of the Resolution Foundation, said: "The outlook for living standards remains bleak," as she highlighted that 10m working-age households are expected to become poorer during this Parliament. The overall impact of tax and benefit changes will reduce incomes for the second poorest fifth of households by 1.5%, the foundation said, while the richest fifth will see a smaller decline of 0.6%. The report calls for transitional protections to mitigate the effects of the cuts.
CORPORATE
O'Key gets go-ahead to redomicile from Luxembourg to Russia
Shareholders of Russian retail group O'Key have approved the company's redomiciling from Luxembourg to Russia, the group said on Tuesday. It is expected that the company will be registered in the special administrative region on Oktyabrsky Island in the Kaliningrad Region as an international public joint-stock company (IPJSC) following approval and completion of the procedure. O'Key manages hypermarkets of the same name and the Da! discounters, with 77 hypermarkets and 224 discounters.
INTERNATIONAL
Bill passes parliament to improve gender equality in Australia
Large businesses in Australia are set to implement significant changes to enhance workplace gender equality following the passage of a new bill. The revised Workplace Gender Equality Act mandates that organisations with over 500 employees establish three gender equality targets within three years. Employers can select from various priority areas, including addressing the gender pay gap and improving workforce composition. Approximately 2,000 employers will be affected, benefiting around 3.9m employees. Workplace Gender Equality Agency (WGEA) CEO Mary Wooldridge emphasised the importance of these targets, saying: “Targets are specific, time-bound and measurable objectives that set a benchmark for employers to work towards.” Failure to comply may result in losing Commonwealth contracts and public naming by the agency. The WGEA has reported a gender pay gap of $28,425 annually. 
General strike looms in Israel as tensions rise
Arnon Bar-David, chief of Israel's Histadrut Labor Federation, has convened a meeting with industry leaders to discuss the potential for a general strike in response to recent government actions. The meeting aimed to establish the "red line" that would trigger such a strike. Earlier, Histadrut warned the government to respect the High Court of Justice's ruling regarding the dismissal of Shin Bet chief Ronen Bar. Bar-David said that ignoring the court's decision would be a “final red line that cannot be crossed,” and he said the union “will not sit quietly and watch [the government] take apart the State of Israel.”
 


The Human Times is designed to help you stay ahead, spark ideas and support innovation, learning and development in your organisation.

The links under articles indicate original news sources. Some links lead directly to the source material. Others lead to paywalls where you may need a subscription. A third category are restricted by copyright rules.

For reaction and insights on any stories covered in the Human Times, join the discussion by becoming a member of our LinkedIn Group or Business Page, or follow us on Twitter.
Follow us on FacebookFollow us on XFollow us on Linkedin

This e-mail has been sent to [[EMAIL_TO]]

Click here to unsubscribe