I’m interested in learning what was unique to French labor laws that prevented it. I believe there will be voluntary departure offers, but there are no ramifications to turning it down.
Tl;Dr it is very difficult to fire a full-time France-based employee without cause. What most companies do is require much longer “internships” until you’re presented a full-time offer - in these, you’re doing full time, non-intern work, but they have the flexibility to try you out before making you essentially impossible to get rid of. At Morgan Stanley in trading (where I come from), with a bit of luck you could reach L5 equiv in the time it’d take your French counterpart with the same YOE to convert from intern to FT L3 equiv
A perfect example of the highly destructive nature of employment laws. This also assumes people in France will be hired at all, in lieu of the 189 other viable countries where people of equal or greater quality can be hired with less risk to the company.
Thanks, Morgan Stanley; I didn’t know any of this. Is this different than the probation I’ve heard of in Germany and other European countries? Is there a trade-off between growth trajectory and implied job security? Implied because I believe you can be let go at any time in that earlier period.
UK swiss and Germany have the most headcounts in Europe
French get paid 30% of the US salaries - so take your pick. $100K and life time employment or $300K with the uncertainty.
France is employment heaven for the employees.
Except if you like earning money in exchange for your work.
I am sure those 12k that are out agree with you.
No layoffs announced outside the US right?
At the moment, layoffs are confirmed for all other countries.
Typically, when you make it hard to fire, you make companies hesitant to hire. Would be curious what headcount growth in France looked like over the crazy ramp up in the previous years. My guess is that we grew more slowly/leveraged more TVC so there were less cuts needed. Also 🥜 comp probably helps since it seems like cost cutting was the main driver
It used to be impossible to do “american style” layoff to a French FTE. The relationship is not at will. The employer needed either economic hardship or the worker to be at fault with a severe reason. If the employer lie about the reason, the french citizen would make a lot of money by easily suing them. The law was updated a few years ago to make it easier. But I’m not familiar how much it changed.
French love riots, unlike Americans they push back and ask for accountability
How’s Apple? Any hint of layoffs coming?
Gosh, I hope I’m laid off. The only reason Apple didn’t lay folks off is because Apple expects 1 person to do the job of 2-4