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European Edition
23rd December 2025
 
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THE HOT STORY

Telefonica to shed up to 5,500 jobs in Spain

Telefonica will reduce its workforce in Spain by up to 5,500 jobs under a voluntary departure plan agreed with trade unions. This represents nearly 25% of its 25,000 employees in the country. The company, which employs 100,000 globally, aims to focus on its core markets, including Spain, Germany, the UK, and Brazil. Telefonica said: "An agreement was reached with the trade unions . . . concerning the implementation of a voluntary departure plan for approximately 5,500 workers." The restructuring plan is expected to cost around €2.5bn before taxes.
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HIRING

Labour's foreign worker crackdown could cost UK economy £710m

Labour's proposed immigration reforms could significantly impact the UK economy, with potential losses estimated between £520m (€592m) and £710m. The Migration Advisory Committee (MAC) suggested maintaining the salary threshold for skilled workers at £41,700, warning that raising it to £52,000 would reduce economic contributions. The reforms also include stricter visa requirements and longer wait times for settlement, particularly affecting low-paid workers. Chair of the MAC, Professor Brian Bell, said the skilled worker visa route was “crucial” in “enabling firms to employ migrants who also make positive fiscal contributions to the UK.” He added: “Salary thresholds are, however, essential to prevent undercutting of the wages of domestic workers and ensure fair pay while maximising fiscal benefits to the UK. However, the government is clear that the use of the immigration system should not be a substitute for training the domestic workforce.”
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LEGAL

Luxembourg lawmakers pass pension and Sunday shop hour reforms

Luxembourg's Parliament has approved controversial bills to reform the pension system and shop opening hours. Starting 1 January 2026, retailers with fewer than 30 employees can operate for up to eight hours on Sundays. Larger retailers must negotiate agreements for extended hours. The pension reform requires workers to contribute for longer for a full pension. Martine Deprez, health and social security minister, said the changes aim to ensure sustainability, while opposition MP Georges Engel called the Sunday work liberalisation "unacceptable" and "dangerous."

TikTok faces legal threat over job cuts

TikTok is facing potential legal action after announcing job cuts affecting over 400 UK safety workers. The company is accused of threatening redundancy just days before a union vote. Two moderators have sent a legal letter citing unlawful detriment and unfair dismissal. Stella Caram, head of legal at Foxglove, said: "This is obvious, blatant and unlawful union-busting." TikTok has one month to respond to the claim. A spokesperson for TikTok denied the allegations, saying the changes are part of a global reorganisation to enhance user safety.

Residents challenge Denmark's 'ghetto' law

Residents of Mjølnerparken in Copenhagen are optimistic about overturning Denmark's controversial "ghetto" law after a ruling from the European Court of Justice (ECJ) suggested it may be unlawful. The 2018 law permits the demolition of buildings in areas deemed "parallel societies" - those where over half the residents are of non-Western descent. The ECJ indicated that the law could lead to discrimination against these residents, saying: "It would be for Danish courts to decide if there was a difference in treatment based on the ethnic origin." The case will return to Denmark's eastern high court for further examination.
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CYBERSECURITY

Cyberattack disrupts postal service in France

A cyberattack has disrupted France's postal service, La Poste, halting deliveries during the busy Christmas season. The incident, identified as a distributed denial of service (DDoS), rendered online services inaccessible, affecting package deliveries and banking operations at La Banque Postale. La Poste said that customer data remained secure. The attack follows a recent cyber incident targeting France's Interior Ministry, and further raises concerns about ongoing cyber threats in the region. "Our teams are mobilised to resolve the situation quickly," La Banque Postale said.
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ECONOMY

London is the world's most 'magnetic' city

Japan’s Mori Memorial Foundation, a research institute, has ranked London top of its Global Power City Index (GPCI), which evaluates the urban competitiveness of major cities, for the 14th successive year.  The GPCI evaluates and ranks the major cities of the world according to their “magnetism,” or their comprehensive power to attract people, capital, and enterprises from around the world. The UK capital secured the top ranking in the Cultural Interaction and Accessibility functions, and maintained a solid #2 in both Economy and R&D. It also took the #1 spot in the indicator for Urban Greenery.

Consumer sentiment in Germany wanes heading into 2026

Sentiment among German consumers is set to fall significantly heading into 2026, with households' propensity to save money, driven by renewed uncertainty, reached its highest level since the 2008 financial crisis. The consumer sentiment index, published by the Nuremberg Institute for Market Decisions, fell to 26.9 points in January, from a slightly downwardly revised -23.4 points. That is below the forecast from analysts polled by Reuters for a reading of -23.2 points.
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INTERNATIONAL

EEOC urges white men to report discrimination

Andrea Lucas, chair of the US Equal Employment Opportunity Commission (EEOC), has called on white men to report experiences of workplace discrimination based on race or sex. “Are you a white male who has experienced discrimination at work based on your race or sex? You may have a claim to recover money under federal civil rights laws,” Lucas, a vocal critic of DEI, wrote on social media platform X. The post urged eligible workers to reach out to the agency “as soon as possible" and referred users to an EEOC fact sheet on “DEI-related discrimination” for more information. David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion, and Belonging at the NYU School of Law, said the posts were indicative of a “fundamental misunderstanding of what DEI is,” observing that opponents of DEI “tend to frame it as a set of illegal preferences . . . [but] It's really much more about creating a culture in which you get the most out of everyone who you're bringing on board, where everyone experiences fairness and equal opportunity, including white men and members of other groups.”

Chinese firms relocate to Singapore amid geopolitical tensions

A growing number of Chinese companies are seeking to establish their operations in Singapore to mitigate risks associated with escalating Sino-US tensions, a trend some analysts refer to as "Singapore washing." As companies explore such moves, benefits appear to favour smaller enterprises, while larger corporations face hurdles in maintaining operational integrity amidst scrutiny. "Demand has always been rising . . . and the key thing right now is that it's probably going to accelerate at a more rapid pace," said KG Tan, CEO of InCorp Group, which helps companies relocate or expand in nine Asia-Pacific locations.

Brazil union set to accept Petrobras labour deal

The Brazilian oil workers' union FUP has signalled it plans to accept a counteroffer from state-run company Petrobras for a labour deal, in a move which would pave the way to end a week-long strike, Reuters reports. Petrobras confirmed it had made "adjustments" to its latest collective labour proposal, "including advances on key union demands."
 
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