The Portuguese government is coming to the rescue of the automotive sector by unfreezing an extraordinary 900 million euro grant. The plan defines four major intervention axes: stimulate employment and skills; guarantee competitiveness by encouraging technological development; compensate financial deficiencies; revive auto consumption. (Ref. 080982)
Competitiveness and employment. The government is going to ensure 80% of the wages of 10.000 workers in the car industry who will attend training leading to qualification. Companies which join the action plan commit not to appeal to mass layoffs in 2009-2010 in the event of new economic troubles. They will also have to respect 4 other commitments: freezing managers’ wages until the end of 2009; no profit-sharing; maintaining the employment levels defined by the government and consult staff repr
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