Asia Employment, Pensions and Incentives Update: May 2023

This month's update covers the following:

• a recent Singapore case where the court dealt with an appeal against damages for the non-delivery of shares granted to employees as part of an incentive scheme. The court considered whether termination of employment could deprive an employee of their unvested shares, even though the termination was only days away from the vesting of the shares and from a change of control event which would have accelerated the vesting. Click here for a summary of the case.
• over in Mainland China, several employment guiding cases issued by local courts in Beijing, Shanghai, Guangdong and Jiangsu, can offer valuable insight into the courts’ decision making process in future cases. Click here for more details.
• our Compliance Check focusses on Taiwan and looks at a recent WFH guideline issued by the Department of Labour in Taipei which reminds employers of their obligations to maintain attendance records even while employees WFH and of employees’ right to disconnect.
• in Indonesia, a new regulation on wage and hour reductions provides cost saving measures for employers in labour intensive and export-oriented industries. But there’s a catch – consent from employees is required. To find out more, click here.
• our Asia comparative article zooms in on several key issues in carrying out redundancies across Singapore, Thailand, Mainland China and Indonesia.