************************
Malaysia Airports (airport, 2002, Source: news article)
Employees accepting the VSS offer will be paid between 0.75 and 1.75 times their last drawn salary multiplied by their years of service.
Intel Malaysia (2006, source: Intel sources)
VSS: Offered 1.5 months salary for each year of service and three months pay for leaving on short notice
Hualon (2008, receivership, news article)Note : This is a unique case. Co was bankrupt, put under receivership and then sold to a new owner. Local law does not provide for retrenchment benefits if company is bankrupt. However, Hualon employees campaigned and got something at the end : "Hualon Corporation textile workers received compensation ranging from RM1,000 to RM17,000 based on years of service"
A good article below for more details on case
http://www.socialistworld.net/doc/3254
Hong Leong Bank, MIMB (post-takeover of EON Bank), Nov-2011
VSS payment formula is based on a VSS multiple that ranges from 1.4 (for executives) to 1.6 (for non-executives) multiplied by the length of service (capped at a maximum of 22 years) multiplied by the basic salary or 50% of total monthly salary until retirement, whichever is lower.
In addition, the Bank is also offering
medical relief of up to RM1,000 reimbursable for a period of 6-months
from the date of separation, continuation of housing and motor vehicle
loans at staff preferential rates for a period of 12 months from the
date of separation.
No comments:
Post a Comment