The recent practice of industrial companies in the eurozone that have increased labour costs in the face of declining production cannot be sustained. UK) 16 June 2012
The latest figures published by the EU’s statistical agency Eurostat reveal that hourly labour costs in the industry sector rose by 2.5% across the eurozone over the year to Q1 2012...Current pay systems belong to a past age when employers simply responded to economic downswings by shedding labour. Modern employers realise that as economic trends are largely cyclical it makes little sense to make workers redundant only to start recruiting months later when business picks up. Unfortunately, rising payrolls as times get tougher can only frustrate such an approach and drive the economies of Italy, Spain and Portugal deeper into crisis.”
What is FedEE?
The Federation of European Employers (FedEE) is the leading think tank for multinational companies operating in Europe. It was founded in 1989 with assistance from the European Commission and has its head office in London, UK.
For further information and comment contact Alison Merrett on 0207 520 9264 or Alison(dot)merrett(at)fedee(dot)com or Robin Chater directly on robin(dot)chater(at)fedee(dot)com. Website: http://www.fedee.com
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