Italy / Factory jobs ‘disappearing overnight’

Italy is haemorrhaging manufacturing jobs. Since 2007, 55,000 manufacturing firms have folded, taking more than half a million jobs with them.

Weak demand at home and high labour costs are not the only factors prompting Italian companies to move to eastern Europe.

Carlo Carnevale Maffe, professor of business strategy at Milan’s Bocconi University, blames a bloated and erratic bureaucracy.

“Who wants to invest in Italy?” he says. “Even Fiat is looking to Brazil and the US. The application of law here, the regulations, it’s totally inconsistent.”

Chosen excerpts by Job Market Monitor. Read the whole story at 

via BBC News – Italy factory jobs ‘disappearing overnight’.