Unpaid Leave Is Just Like Job Sharing: Law Chi-kwong
"); jQuery("#212 h3").html("

"); });
2021-03-17 HKT 16:31
Labour and Welfare Secretary Law Chi-kwong on Wednesday described unpaid leave as "job-sharing", saying it's better for workers to be asked to accept such an arrangement rather than being laid off because of the economic downturn.
With many people required to take days off without pay during the pandemic, Law was asked at a Legislative Council meeting what officials are planning to do to help suffering workers.
"The [unpaid leave] actually reflects market changes. In the past some people called this job sharing," the minister said in response to a question from Business and Professionals Alliance councillor Christopher Cheung.
"You normally work five days and you turn it into four. If you don't share the job, the employer could sack 20 percent of staff," Law said.
He went on to say that many companies cannot afford to keep all their employees on the books, and the unpaid leave arrangements that many have adopted reflect the "Hong Kong's market's flexibility".
Law said such moves allow people to adapt to the new business environment through "mutual understanding", and employers and employees should face the tough economic times together.
Lawmaker Alice Mak, from the Federation of Trade Unions, said she was disappointed that Law could only offer comments that upset people.
"He's now doing nothing, and just telling people that, okay, you can share your job. This is not what a scholar in social welfare should say, right? And as the secretary for labour and welfare, he's not done his job well," she said.
The unionist said Law should instead be introducing measures or creating jobs to help the unemployed and under-employed.
ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education
ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more
Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets
The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more
Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation
Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more
MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending
MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more
Why The $2 Trillion Stablecoin Prediction Is Too Low
McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more
RedotPay Eyes US IPO With Potential US$1 Billion Raise
RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more
