France's President Francois Hollande (R) talks with Italy's Prime Minister Matteo Renzi during the Asia-Europe Meeting (ASEM) in Milan October 17, 2014. REUTERS/Alessandro Garofalo
ROME (Reuters) - Italy's government on Wednesday began drawing up the details of a reform that Prime Minister Matteo Renzi said will "revolutionise" the country's labour market when it takes effect some time next year.
The cabinet approved key parts of the so-called Jobs Act to ease firing restrictions, extend the duration of jobless benefits and introduce a new contract type offering compensation in case of dismissal that gradually increases with seniority.
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