M'sia retrenchment fund needs fine-tuning: bosses

Kuala Lumpur

EMPLOYERS in Malaysia are hot under the collar over a proposed retrenchment fund they contend raises more questions than answers and which now appears to be a "different animal" from what was initially mooted.

Stakeholder groups say they are in support of the main objective of the Employment Insurance System (EIS) Bill 2017 which when initially mooted was to provide some insurance benefit to Malaysian employees retrenched without a severance package and who were unemployed for a period of about three months.