Turkey amends Labor Act

Amendments to the Labor Act increased both the minimum wage and the severance payment rates. The gross monthly minimum wage rate for 2019 increased from TRY 2,029.50 to TRY 2,558.40. The new rate applies to all industries except for the coal and lignite mining industries, where the monthly minimum wage should be equal to at least twice the regular rate (TRY 4,059). The maximum severance payment rate has increased for the period between 1 January 2019, and 30 June 2019, from TRY 5,434.42 to TRY 6,017.60. The severance payment ceiling is revised every six months.