The Company has adopted the Severance Pay Policy based on the Labour Code dated 22 May 2003 and numbered 4857.
Within this framework,
Severance Pay; is paid to employees whose employment contracts are terminated due to the reasons set out in the law numbered 4857, who have worked for a certain period of time, and who become entitled to receive severance pay or in case of their death, to their legal heirs, based on the working period and remuneration of the employee pursuant to the relevant articles of the law.
The procedure of “pay in lieu of notice” is applied either by way of (i) giving notice to the employee that his employment contract will be terminated, within the periods set out in the law, depending on his seniority, and granting him the right to seek jobs, or (ii) paying in cash the remuneration of the employee until the end of the notice period.
