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Germany Proposes to Raise Minimum Wage in 2024 and 2025

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What’s going on: Germany has proposed raising its minimum wage by 3.4% These proposals come from a government-appointed commission and are expected to be approved by the Labour Minister, Hubertus Heil. Reuters reports that the proposed minimum wage hike is estimated to impact approximately 6 million employees.

2025 278
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WeWork’s Updated Bankruptcy Exit Strategy: Yardi Takes 60% Stake, SoftBank’s Role Diminished

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BisNow reports that under the proposed financing deal WeWork’s senior lenders have agreed to provide $50 million in interim funding to sustain operations until the anticipated bankruptcy conclusion on May 31.

Finance 264
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Landmark EU Legislation Will Shape the Future of Ethical AI Practices in the Workforce

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The approval of the AI legislation arrives five years after the regulations were first proposed. However, it’s reported that high-risk AI tooling, which includes medical devices and AI systems linked to critical infrastructure (i.e. electrical grids or water systems), will face more demanding requirements.

2025 279
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Home Rental Platform Rentberry Shows an Interest in WeWork Acquisition

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According to a report published by Commercial Property Executive , San Francisco-based home rental platform Rentberry is set to announce a proposal this week. “We are on the cusp of a revolution in how people work and live, demanding unprecedented flexibility,” Rentberry CEO Oleksiy Lubinksy stated in an announcement.

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Spain And The UK Make Pension Decisions

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What’s going on: On Thursday, Spain’s Parliament gave their stamp of approval to the government-proposed changes to the pension system, which will increase contributions for approximately 11 million pensioners. Most of the added expense will be shouldered by the country’s highest earners and their employers.

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WeWork Keeps Blinders On, Ignoring Unpaid Rents, As It Files To Reject Nine More Leases

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Feeling pressure from landlords over outstanding January rent payments, WeWork proposed rejecting nine additional leases this week as it continues to navigate through its bankruptcy proceedings. The official court motion, as reported by BisNow , was filed in bankruptcy court on Wednesday.

Filing 147
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U.S. Court Rules That Uber Drivers Must Resolve Work-Related Disputes In Arbitration

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Employees are eligible for overtime pay, reimbursements for work-related expenses, and other benefits, which can cost companies up to 30% more than contractors, according to Reuters.

Legal 244