Venice's Harry's Bar on Tuesday signed a new contract with staff to avoid possible layoffs and secure the future of the exclusive eatery and drinking hole in the wake of the credit crunch.
Owner Arrigo Cipriani said the contract was based on the concept of ''the more we rake in the more we all get'', and will involve a production bonus for all workers equal to 13% of earnings.
''This will maintain the current employment levels,'' Cipriani said, adding that the contract could act as a 'pilot project' for other businesses.
''We are experimenting with anti-crisis measures that can be an advantage to everyone,'' he said.
Under the contract, Harry's Bar's 65 employees, from the waiter to the chef to the dishwasher, will receive a basic salary plus a ''premium'', a share of a percentage of the establishment's earnings which will be taxed at a lower rate.
Last summer Harry's Bar moved to combat inflation and attract customers by slashing its prices by 10%.
The world famous bar is not new to such initiatives and when the value of the dollar fell significantly against the euro it began giving its American customers discounts.
Harry's Bar opened in 1931 and became famous thanks to the celebrities who frequented it, including Ernest Hemingway, Charlie Chaplin, Orson Welles, Arturo Toscanini, Aristotle Onassis, Elton John and Woody Allen.
Aside from its original location in Venice, Harry's Bar has branched out into catering and has opened establishments in Rome, Florence, New York, London and Paris.
