Laid off workers will not only be paid for past and future service foregone, by employers but will also get a government dole to go home.
The government rubber-stamped a compensation formula to streamline worker lay-offs during restructuring, through a gazette notification on December 31, 2003.
rn
rnldblquote All private sector workers laid off before retirement age will be compensated for past and future service, with a combined cap of 30 months of salary dblquote , Labour Minister Mahinda Samarasinghe said.rn
rnEmployers will have to offer a flat half a months wage per year of past employment, irrespective of age of termination or period of work, capped at 15 months of salary.rn
rnCompensation for future service foregone until retirement at 55 years will increase on a staggered basis, based on the number of years in service at termination.rn
rnFor example, an employee having worked for one year will get two months of salary for future service foregone until the age of 55. rn
rnThis will a