It's no longer safe to be the boss of a big company in France. You might be barricaded in your office by angry workers, or forced to join a hostile crowd protesting against layoffs. Criminal, or legitimate grief?
French workers, outraged at job losses at Caterpillar, agreed to release the four managers they detained on Tuesday and resume negotiations at the US firm's plant in the southern city of Grenoble. This was the latest in a series of 'bossnappings'.
Dozens of workers at a manufacturing plant owned by US construction equipment firm Caterpillar in the city of Grenoble have detained four managers and are demanding further talks on announced layoffs, a union official confirmed.
In this edition: the Indian Ocean island of Mayotte votes to become France's 101st department; the government in Paris decrees ban on executive bonuses; and farewell to the Oscar-winning composer Maurice Jarre.
French PM François Fillon is due to unveil a decree banning stock options and other executive perks in companies that receive state bailouts, a week after several French banks faced public furore for handing out massive bonuses.
French companies that have received government cash to help weather the economic downturn will be subject to stringent restrictions on bonuses and severance packages until 2010, under rules announced by Prime Minister Francois Fillon.
Abandoning stock options will not help solve the financial crisis, says Philippe d'Arvisenet of BNP Paribas in an interview with FRANCE 24. Only a “globally coordinated plan” will curb the effects of the financial crisis.
French Prime Minister François Fillon ruled out a new stimulus plan despite Thursday's massive nationwide strike. The unions are meeting March 30 to determine next steps, and possibly plan for a May 1 strike.
France's statistics institute, INSEE, has forecast that the country's economy will contract by 1.5% in the first quarter of 2009 and by 0.6% in the second. The unemployment rate is expected to edge up by one percentage point to 8.8%.
French Prime Minister François Fillon ruled out a new stimulus plan after between one and three million people took to the streets across France to protest the government's economic policies and surging job cuts.