Soviet social guarantees for employees scare away investors, often backfire

June 26, 2015


Nobles partner Volodymyr Yakubovskyy commented on new draft Labor code law is currently being reviewed by members of the Ukrainian parliament, giving analysis on what specific novelties could both employers and employees expect (Kyipost Legal Quarterly #02/2015, pp.8-9).


Despite 93 amendments since its adoption in 1971, the existing Labor Code is still not suited for the modern digital economy. A proposed draft law suggests some changes, it gives employers more rights and discretion in terms of supervising employees, remuneration, dismissal, suspension, and lay-offs, while also keeping many current protective provisions for employees. The problem is that the trade unions are lobbying to keep the existing regulations in place.


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