Hiring and firing to be made easier under French labor reforms


Their unveiling marks a moment of truth for Macron, who has vowed to slash France’s stubbornly high unemployment rate from 9.5 percent to 7 percent by 2022.

The government plans to pass the laws by decree next month, having already won parliamentary backing.

Analysts say that the plans will make it easier for Macron to push ahead with the rest of his major reform agenda, which spans domestic policy as well as increased EU integration.

“The proposals will allow Macron to prove his reformist credentials and give him strong momentum to pursue further policy changes at home and abroad,” Teneo Intelligence said in a press note.

However, they insisted that his success will now hinge on his speed of delivery.

“The ability of the French bureaucracy to keep up with Macron’s plans is a challenge in this regard, given the president’s decision to cut the number of staff at the cabinet level and his willingness to push ahead with multiple reforms simultaneously.”

Follow CNBC International on Twitter and Facebook.

Source link

Products You May Like

Articles You May Like

‘Black swan’ event could threaten China’s financial stability, warns banking regulator chief
Buybacks should calm fears of a major market decline
Charts show Amazon, Alphabet, Netflix, Nvidia could pull back
Ulta among retailers poised to gain from tax cuts, Wells Fargo says
Boeing to form joint venture with Adient to develop airplane seats

Leave a Reply

Your email address will not be published. Required fields are marked *