NIS workers to receive severance pay of EUR 500 per year of work

All workers of the Petroleum Industry of Serbia (NIS) who are declared redundant will receive the severance pay of EUR 500 per year of work, the NIS management and the representatives of representative trade unions agreed today.

As NIS said in a release, an annex to the Collective Agreement on the amount of severance pays was signed by NIS CEO Kirill Kravchenko and the presidents of the representative trade unions of NIS and NIS Naftagas, Goran Takic and Milenko Nedic, respectively.

- I am glad that we have managed to reach an agreement on the amount of severance pays after analyzing the labor market and company's needs, and I am also happy that despite the difficult economic situation, we have managed to keep the amount of severance pays at an extremely high level for both Serbia and the region - said Kravchenko.

The release stresses that NIS has "the best collective agreement in Serbia and surroundings, especially when it comes to the protection of employees' rights, their health and safety."