French President François Hollande announced a law that will penalize all companies with more than one thousand employees that close their facilities while having economic conditions for survival in the market.
This is one of the announced measures of the French government to stop the relocation of production to other countries, reports HRT.
For large companies that close their facilities, and the government determines that it was unjustified, strict penalties are foreseen – for each worker, each company will pay 20 legally prescribed minimum wages, which in France amount to 1430 euros.
Hollande emphasized that the measure aims to stop the shutdown of production and the rise in unemployment, which reached the highest level in recent French history three months ago. Namely, 3.3 million French people are unemployed, which is a record unemployment rate of 11.2 percent.
