French PM with a statement this morning
No he's not stepping down to create a job for someone else, much to some people's dismay
This initiative is aimed at providing subsidies to small and middle-size firms to encourage them to hire young and unemployed people.
The scheme will cost the government €2bln in its 2-year timespan in a much needed drive to lower unemployment especially amongst the young. Each company would get €2k for each hiring lasting more than 6 months.
Additional funds will be allocated towards job training, while at the other end of the scale dismissed workers will have their compensation capped in the courts.
Employers have been after that cap for a while now so Hollande is looking to tread a fine path to keep his people happy on both sides.
What do our French readers think ? Token effort or decent initiative?
Hollande in new French jobs for cash initiative
