More cost effective.
Reuters reports that the French parliament has approved measures to cut the cost of sacking traders by excluding their bonuses from compulsory redundancy payouts, in a move aimed at luring banks’ trading activities to Paris as Britain leaves the European Union.
Paris and Frankfurt are at the forefront of a race among European cities to attract London financial services businesses that need a base in the European Union to continue serving customers in the bloc after Britain leaves in March 2019.
France has stepped up efforts to attract London banks to Paris after the election of President Emmanuel Macron, who has cut taxes and taken steps to make labor laws more flexible.
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