How will Labour redundancy be handled?
The privatization labour policy clearly provides for the payment of severance package to retrenched workers as specified in the collective bargaining agreements. Such amount may include severance pay (redundancy benefits), gratuity, and pension, in addition to some support services that may be available under the social safety net. The following rules will be applied in the payment of severance package: • Workers affected prior to privatization either voluntarily or involuntarily and those who leave voluntarily during the transition period are entitled to redundancy benefits (in lieu of severance pay). [Note: There is no room for involuntary retrenchment during the transition period] • Those who leave the enterprise voluntarily or involuntarily are entitled to their end–of–service benefits payable in lump sum including their pension entitlement. • Workers retrenched (voluntarily or involuntarily) after the transitional period are subject to the new conditions of service to be negotiate
