advertisement
Question
Posted by: anon | 2010/10/13

retrenchments

there seems to be alot of messages regarding this topic,,,PLS answer.

Our company is also retrenching (BANK) and I would like to know how is the retrenchment package calculated> 
What is the difference between voluntary retrenchment and just being retrenched.

Not what you were looking for? Try searching again, or ask your own question
Our expert says:
Expert ImageLabour lawyer

Re: Retrenchments

A retrenchment package is normally calculated on the minimum as laid down by the Basic Conditions of Employment Act, i.e. one week's pay per completed year of service. However, many of the institutions pay more than the minimum and it is recommended that you go and read your letter of appointment and the policies of that particular institution. It is also useful to find out what they have paid in the previous exercise of retrenchments.

The information provided does not constitute a diagnosis of your condition. You should consult a medical practitioner or other appropriate health care professional for a physical exmanication, diagnosis and formal advice. Health24 and the expert accept no responsibility or liability for any damage or personal harm you may suffer resulting from making use of this content.

1
Our users say:
Posted by: Labour Lawyer | 2010/10/19

Re: Retrenchments

A retrenchment package is normally calculated on the minimum as laid down by the Basic Conditions of Employment Act, i.e. one week's pay per completed year of service. However, many of the institutions pay more than the minimum and it is recommended that you go and read your letter of appointment and the policies of that particular institution. It is also useful to find out what they have paid in the previous exercise of retrenchments.

Reply to Labour Lawyer

Have your say

Thanks for commenting! Your comment will appear on the site shortly.
Thanks for commenting! Your comment will appear on the site shortly.
advertisement