New labor law makes firms cautious to hire, fire

LIU Caifeng ( 刘彩凤 )
School of Sports Economics and Management, Central University of Finance and Economics
Editorial Note:

The Labor Contract Law, which came into effect January 1, 2008, caused a stir among various social quarters. Among its several clauses, layoff costs are a focal issue of controversy. Based on the surveys conducted by human resources managers of various firms, this paper discusses the impact of the Labor Contract Law on layoff costs and employment behaviors of Chinese firms.

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