Formation of a National Industry, Health and Safety Council: The Act provides for the formation of a National Industry, Health and Safety Council headed by the Minister of Labour and Employment (section 323). The Council will be composed, among others, of seven representatives of the RMG employers` association and the employees` associations. The Council is empowered to formulate national rules to ensure a safe, healthy and clean industrial environment, as well as guidelines for the implementation of national rules. A golden handshake is a provision in an employment contract that states that the employer will provide substantial severance pay if the employee loses their job. It is usually made available to senior managers when they lose their jobs due to retirement, layoffs or negligence. However, payment can be made in several ways, such as: cash or stock options. [37] UNFPA, Bangladesh, “Providing Information and Services to Tea Plantation Communities” – www.unfpa-bangladesh.org/pdf/success_03.pdf. The rig was leased from BP to explore Macondo Prospect, an oil field off the coast of Louisiana. After the accident, which cost the company more than $60 billion, BP CEO Tony Hayward was pushed out.

However, he received a golden handshake payment of an annual salary worth $1.61 million, in addition to his pension fund of about $17 million. Typically, “gold handshakes” are only available to senior executives of large companies and can be worth millions of dollars. Gold handshakes are given to compensate for the risk associated with accepting the new job, as senior managers have a high probability of being laid off and a company that needs a foreigner to reach such a high level may be in a precarious financial situation. Their use has worried some investors, because they do not say that the executive branch must perform well. In some high-profile cases, executives exercised their stock options, while their companies lost millions of dollars and laid off thousands of workers under their leadership. A golden handshake can also be called a golden parachute. Workers are sent into retirement under the Golden Handshake program, the provision of an employment contract that states that the employer will provide substantial severance pay if the employee is laid off. There have been cases where, even though the company has suffered significant losses under the direction of a particular executive and many people have been laid off because of this poor performance, the executive still received the golden handshake at the time of termination of his employment. Media professionals: Approximately 10,000 people are employed in print and electronic media. They are poorly organized and often deprived of their basic rights, including the minimum wage. Most media professionals do not have formal letters of appointment in accordance with the rules of the Salary Committee and cannot appeal after a suspension. [49] According to one columnist, “employers in only six of Dhaka`s more than 273 daily newspapers pay wages set by the Wages Board.” Ten others would partially meet the requirements of the pay committee.

News agencies, BSS and UNB have fully complied with the salary table, BD News has partially complied with it. The electronic media, on the other hand, do not comply with the recommendations of the salary committee. Of these, only two would follow normal business practices; while the others do not comply with the salary board of directors or normal company practices. The new Sixth Salary Council, headed by Judge Fazlul Haque, a former adviser to the interim government, recommended a new pay scale with benefits for media workers, as well as recreational leave, holding allowance, hazard pay and the provision of six copies of documents to workers. This was awaiting government approval. [50] The new pay committee recommended, among other things, recreational leave, equipment allowance, hazard pay and the provision of six copies of documents to employees. A reduced share price makes a company an easier takeover target. If the company is bought (or privatized) – at a considerably lower price – the artist of the takeover takes advantage of the shares of the former top manager to secretly drive down the share price.