Economics
China Leans On Companies to Keep Employees Even If They’re Not Working
A sudden rise in unemployment might fill the streets with disgruntled protesters.
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“We won’t slash jobs, but we can’t pay you either.”
That’s what the founders at a 200-person startup that created one of China’s most popular running apps told some of their employees in March. The statement sums up the predicament now faced by businesses across much of China, where the government is asking companies not to fire workers and offering incentives to keep them on the books.