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Law for terminating employment of Thai's.

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I have a business in Chiang Mai employing Thai persons. Unfortunately as business is slow at the moment I have to finish the employment of some of the staff . Does anyone know what the law is regarding the amount of notice I need to give and any severance payment? I have been told that I have to give 3 months paid notice AND also another payment at the end of employment equivalent to 3 months pay (so from the moment of giving them notice i will pay an amount to 6 months salary). Does anyone know if this is correct?

 

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