The move will help industries in pushing authorities for exemption under various labour laws at a micro-level, along with demanding changes to bring greater flexibility in their operations related to retrenchment, safety standards, and collective bargaining.
However, the government has enacted an important change to the fixed-term employment framework that may help companies in handing out contractual jobs to its existing permanent workforce.
If retrenched workers are unable to reskill within a fixed period of time, they will have to return the money given to them by the government. Moreover, they may be asked to pay back an interest on the sum transferred.
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