Sunday, March 29, 2009

France to ban bonuses for bailed out firms

"The decree will be issued next week, setting out conditions that will make handing out stock options or bonuses to companies that have benefited from state help illegal," Claude Gueant told France 24, a television station.

French workers' anger has been growing as more companies have announced job cuts while executives get bonuses.

Employees at a French 3M factory held a manager hostage for more than 24 hours Wednesday and Thursday over a dispute about terms for laid-off staff.


Earlier this month the boss of Sony France was held overnight before workers freed him after he agreed to reopen talks on compensation when the factory closed.

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