I think you are misunderstanding. Unlike Austria, in most others EU countries you can't terminate employees, even with notice, without providing a reason.

When they're objectively worse than every other EU country, bordering on competing with the US, I can hardly call them "fine".

>If you make rules around dismissals stricter then you greatly harm the ability for a company to hire in the first place.

Please stop parroting the propaganda of the conservative party (ÖVP) who are bought and paid for by the business elite and would gladly tell us working 60h/week is in our best interest. The stricter employee protections in other EU countries haven't harmed the economy or innovations there. Do you see Netherlands or Sweden doing poorly economically because of their better employee protection laws? In fact their innovation and tech sectors are far above Austria's.

Nor did the lack of employee protection laws boost Austria's economic sector. Have you looked at Austrian skilled wages? They earn the lowest wages of all the German speaking countries causing an exodus of doctors and other skilled specialists to Germany and Switzerland, while Austrian devs make Eastern European wages. So how did the lack of worker protections help with this?

Maybe fixing the needlessly complex and conservative bureaucracy and high tax burdens on employers and employees would help improve the Austrian economic sector and make it more competitive and attractive for business, instead of taking away employee rights in a race to the bottom hoping that going the sweatshop route will make it more competitive.