France Approves Major Labor Reform Package

By Sarah DiLorenzo – France’s parliament has passed a package of significant labor reforms Tuesday (may 14) that the government hopes will help halt rising unemployment and jumpstart the country’s stagnant economy.

One of the main measures of the bill allows companies to temporarily cut workers’ salaries or hours during times of economic difficulty. This measure takes its inspiration from Germany, where furloughs have been credited with allowing companies to weather difficult times without resorting to massive layoffs.

Several measures are also aimed at making it less daunting for employees to change jobs. French contracts are known for the tremendous protections they afford workers and as those benefits increase, the longer an employee stays with a company. While it is frequently noted that these contracts make employers reluctant to hire, they can also make employees more likely to stay put in stable jobs. When no one moves, it becomes harder for the unemployed to find work. more> http://tinyurl.com/a2r6w5d

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