The IMF pointed to reforming pensions, health care, and state-owned enterprises, improving tax compliance and budget practices, dealing with potential problem banks, improving labor flexibility, and streamlining business regulation.
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Over the past few years, more companies have viewed outside help as a means to keep costs down, enhance labor force flexibility and increasingly to introduce innovations.
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The restructuring process, which began in 2009, is expected to reduce manufacturing costs, increase efficiency, facilitate far more flexibility in labor requirements, and will also help reduce product development time by 30% that will enable the company to launch new models faster.
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With the euro now coming into being, countries will no longer have any excuse for procrastinating over enacting major structural reforms, such as cutting taxes la Ronald Reagan and introducing more flexibility into rigid labor markets.
If these imbalances persist and there is resistance to greater fiscal integration, greater labor mobility, and more private sector flexibility, the E.
The private sector needs more flexibility across the euro zone, including greater labor mobility and a unified labor market, to respond to economic shocks.
It stresses flexibility and collaboration over traditional high-cost labor practices. union Union employees work side by side with lower-paid contract employees doing work once performed by Big Three laborers.
Renault CEO Carlos Ghosn says the work rule and hiring flexibility of the auto maker's recent Spanish labor contract can serve as a road map for its efforts to cut costs in France.
It follows his attempts to stimulate growth and reform the labor market by passing a law in January the government says will increase flexibility for French companies and spur competitiveness.
The report documents some of the changes in the U.S. workforce which have increased the need for flexibility in the workplace, including the increased number of women entering the labor force, the prevalence of families where all adults work, increasing eldercare responsibilities, and the rising importance of continuing education.
Employers have more flexibility in the long run and will find ways to economize on the higher-priced labor.
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