Having lost position last month to young woman from Spain (8)
I believe the answer is:
declasse
'having lost position last' is the definition.
I don't know anything about this answer so I can't judge whether it can be defined by this definition.
'month to young woman from spain' is the wordplay.
'month' becomes 'Dec' (abbreviation for December).
'to young woman' becomes 'lass' (informal term for a young woman).
'from' means one lot of letters go next to another.
'spain' becomes 'e' (abbreviation for Espana).
'dec'+'lass'+'e'='DECLASSE'
Can you help me to learn more?
(Other definitions for declasse that I've seen before include "stripped of social standing" , "Having fallen in social status" , "down the social ladder" , "having lost status" .)