ARTICLE · 24 JULY 2024

What Is Severance Payment? How Is Severance Payment Calculated?

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Severance payment is an important type of compensation provided to protect the job security and economic rights of employees.

TurkeyEmployment and HR

What is Severance Payment?

Severance payment is an important type of compensation provided to protect the job security and economic rights of employees. This compensation, calculated based on the employee's length of service, is given when the employment contract between the employee and the employer is terminated under certain conditions. It is regarded as a reward for the employee's years of service and plays a critical role in ensuring the employee's financial security for the future. In this article, we will discuss what severance payment is, under what conditions it is granted, and how it is calculated according to the Labor Law No. 4857.

How is Severance Payment Calculated?

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