Communists suggest employees take over collapsing companies

Czech Communists have come up with proposal of how to save collapsing companies: their employees should be allowed to take them over, and try to keep them afloat themselves. Communist MEP Miloslav Randsdorf told journalists on Saturday that if this scheme, known as Employee Stock Ownership Programmes, was introduced, workers could pay for their employer’s shares with funds collecting the firm’s future benefits. The Communists wanted to introduce the programme in the past but never found enough support from other political parties.

Author: Jan Richter