“France, which is home to some of the most esteemed and valuable names in fashion, has rolled out a number of initiatives aimed at safeguarding the health of native companies and protecting its citizens from sweeping unemployment in light of the rising impact of the COVID-19 virus. One such effort? A $50.16 billion “expanded partial-unemployment package in which the [French government will] pay the salaries of employees who are needed during the crisis” in order to avoid layoffs, according to the Wall Street Journal.
In other words, the $50 billion plan enables companies to reduce employees’ hours or to furlough them (i.e., temporarily cut their hours (in part or entirely) while technically still keeping them in their positions as employees), while leaning on the government to pay at least a portion of their salaries. According to a report from the Financial Times on Monday, it appeared – at least initially – that some of the country’s biggest fashion groups wanted in.” – thefashionlaw.com
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