Update: Measures to Reduce the Impact of COVID-19 on Employment Extended

Posted in COVID-19 Corporate, M&A and securities

Two new presidential decisions dated October 26, 2020, have further extended several measures to provide Turkish businesses and employees with certain assurances in response to the pandemic.

  1. The ban on termination, previously due to expire on November 17, 2020, has been extended for two more months Employers are prohibited from terminating employees, save for a limited set of exceptional grounds, until January 17, 2020.
  2. The furlough period, previously extended until November 17, 2020, has also been extended until January 17, 2020. Employers are allowed to unilaterally furlough their employees during this time period.
  3. The short term work allowance will continue for two more months until the end of 2020. This program of direct monetary relief payments to employees is only available to businesses that had previously applied for the short term work allowance on behalf of their employees.

About

Turkey offers significant growth potential to international investors and developers, in addition to domestic businesses. Our understanding of the legal, economic and political landscape in Turkey is second to none and we understand that changes impacting your business can arise rapidly and vary significantly across the region.

Through Inside Turkey, we aim to keep you updated on domestic and international developments, as well as providing insights into how to navigate the current market across key industry sectors. Inside Turkey will also feature legal developments outside of Turkey that affect Turkish companies doing business abroad.

Blog Network

Topics

Archives