When the German economy turned south after the 2008 financial crisis, the pain was mitigated by a program known as “Kurzarbeit.”
The word means short work. Instead of laying off workers, German companies cut back their hours. The government then used money set aside during good times to pay the workers around 60 percent of their lost wages. The labor unions went along because they believed it was better to keep people employed even at reduced pay. This is the German social compact.
keyboard shortcuts: V vote up article J next comment K previous comment