Forums  >  Resignation & Termination

Termination / Lay-off

in-muk
Member
Tue, 03 Aug 2010 05:34:11 PM  (Last updated: Thu, 05 Aug 2010 02:38:53 PM)

Hi,

I hope someone can give me some suggestions and advises with the situation that I might be facing very soon.

My company is facing serious financial problem now and rumour have been passing around that the shareholders have decided to cease the business in Malaysia (we are a 100% foreign own company) .  I am drawing a monthly basic salary of RM5,500 and I have been in their employment for more than 1 year.  May I know what are the compensation or benefits that I can demand from the company if the company decided to terminate my employment?

Please note that in my employment contract, it is stated as below:    

"Upon confirmation, either party may terminate the employment by giving the other party one (1) month’s notice in writing or payment in lieu thereof without assigning any reason whatsoever."

Besides the above 1 month's salary in lieu of notice, what else can I demand from the company as termination/lay-off benefits?  Hope someone can help me on the above.

Regards

 

KL Siew
Administrator
RE: Termination / Lay-off
Wed, 04 Aug 2010 08:22:09 PM

Although you are covered by the Employment Act, you may still use the Employment(Termination and Layoff Benefits)Regulations as a guide about compensation, not much you can get. If you think the company is not doing well, you may as well start looking for some new openings rather than waiting for it to happen.

in-muk
Member
RE: Termination / Lay-off
Thu, 05 Aug 2010 02:38:53 PM

Thanks for your advise, KL Siew. 

I agree with you, I should start looking for a new job instead of looking forward for the compensation issue.

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