France eyes layoffs clampdown as unemployment climbs
PARIS (Reuters) - France’s new Socialist government is planning to ramp up the cost of laying off workers for companies in the coming months, its labour minister said on Thursday after data showed the jobless rate hit the highest level this century at 10 percent.
The push to make firing more difficult in France, where making layoffs is already tightly regulated and often costly for employers, contrasts with moves under way in other euro zone countries such as Italy and Spain to make job cuts easier.
With the economy stalling, Labour Minister Michel Sapin said urgent measures were needed against unemployment and that he aimed to put forward legislation after the summer break.
"The main idea is to make layoffs so expensive for companies that it’s not worth it," Sapin said in an interview with France Info radio.
RIP: France’s economy
OH MAN OUR COMPANY IS LOSING MONEY FAST BECAUSE WE HAVE FAR TOO FEW CLIENTS IN THIS ECONOMIC DOWNTURN. WE BETTER SCALE DOWN TO SURVIVE THE RECESSION AND REHIRE ONCE IT PAS- Oh wait we can’t. *business goes under; suddenly a mess of people are now out of work*
Though more realistically, they (businesses) just will recognize that they can’t easily let go a shoddy worker and will actively hire even LESS people or size down all at once before the law comes into practice, sending an economic shock as a bunch of people find themselves jobless and unable to find work from jobsites that won’t risk it.
Less hiring and less productivity throughout the country.
On the bright side, it’ll be like watching an idealistic 12 year old’s solution to unemployment put to practice.