French president signs five decrees to overhaul labour code

‘French President Emmanuel Macron has signed an executive order making changes in the country’s labor law despite opposition from workers and labor unions.
Macron signed five presidential decrees on Friday, allowing employers to easily negotiate pay, hire and fire their staff, with the aim of boosting economic growth.
The labor overhaul is the central pillar in Macron’s promises to create jobs and boost economy.
The president, who has been in office for four months, believes that the labor reforms, along with an overhaul of unemployment benefits and a training plan for jobless people to be set up next year, will boost economy and bring the unemployment rate down from the current long-standing 9.5 percent.
The International Monetary Fund (IMF) on Thursday backed Macron’s plans, saying labor reforms, joined by tax cuts and a cut in public spending, would increase economic growth in France.’
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