Employment is usually the highest fixed cost for any organisation. In circumstances where a company needs to adjust its costs base, the ability to cost effectively and rapidly change gross employment costs can have a significant impact on whether a company survives or fails.
For this reason employment laws, which differ widely between countries, also affect that country’s environment for corporate restructuring. Being able to act rapidly in respect of the business’ cost base is the key to turning around a company in distress, hence in these circumstances flexibility of labour is crucial.
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