Safety Features

Dilshan Wirasekara, Chief Executive Officer of First Capital Treasuries PLC

A tentative take off date of April is on the cards for the social security net for retrenched workers, with an ILO report on its way to Cabinet.
The security net is tagged to recent labour reform that went through parliament, which makes it easier for employers to lay off workers during restructuring.rn

rnWith lay-offs now made easier, the security net looks at safeguarding workers, providing temporary funding and training until they get back on their feet. rn

rnA team from the International Labour Organisation put forward proposals on setting up the safety net and a final structure is yet to be thrashed out. rn

rnThe security net will also see an unemployment insurance fund on the lines of the dole in countries overseas being put in place for retrenched workers.rn

rnldblquote This will support retrenched workers for a maximum period of six to eight months and they will be provided with training, tied up to the new job placement network JobsNet
dblquote , Labour Minister, Mahinda Samarasinghe t