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Austrian Industry: „Austerity Package Brings Excessive Rise in Labor Costs“

Published: February 25, 2012; 14:56 · (Vindobona)

For the Federation of Austrian Industries (IV), the austerity package causes an enormous rise in labor costs for entrepreneurs.

Austrian Industry: „Austerity Package Brings Excessive Rise in Labor Costs“ / Picture: © Flickr

“Especially the rise in the employer contribution to night work from 2.0% to 5.0% has enormous consequences.” Christoph Neumayer at IV says. According to IV, 17,600 workers in 50 enterprises are concerned. The steel, automotive and paper industry are especially affected.

“The rise is disproportionately high. Companies have to pay up to 1.0% more salaries and wages.” As a…

This article includes a total of 161 words.

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