Employers and unions in the Netherlands are currently discussing a 'credit crisis bridging scheme' to shorten the workweek of employees in companies affected by the downturn. The scheme would last for between six and eighteen months, during which time employees would continue to receive their normal remuneration. However, employees subject to the scheme would undertake training during their lay-off periods and their employers would receive interest-free state credits equal to 70% of the remuneration due for the cut in working time (repayable after the scheme ends). The Dutch government appears to be in favour of the scheme, but it will still be necessary to gain formal cabinet approval. If the scheme is endorsed, it could be up and running by the end of the year.
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