Italian factory owner Fabrizio Pedroni sent his employees off on their annual holiday and quietly moved the entire operation to Poland. His business was being strangled by high salaries and low productivity. An employee on €12,000 a year in fact cost €30,000 due to social security and pensions provisions.
'If I had told the unions I intended to transfer production to Poland they would have had my property confiscated.' he said.
This is an all too common tale, which Italy needs to sort out if it is ever to emerge from the economic doldrums.
Incidentally the factory is called Firem.