GOOD NEWS AT YHOC Improved Employee Compensation Package [Archives:1998/42/Business & Economy]

Effective immediately, Yemen Hunt Oil Company (YHOC) has upgraded its compensation package for its local employees significantly. “We have been looking at various international companies working in the country. What we have come up with is one of the best compensation plans in the country,” said Bill Lewis, the General Manager.
Indeed, Yemeni employees will now get medical services comparable to any in the country. “Clinics are being set up to meet the health needs of ‘our’ families,” added Mr. Lewis. The cost of the medical package alone will run into millions of dollars.
At the same time, overtime work between the hours of 8:00 PM and 6:00 AM will be compensated at 200% the normal rate, rather than the present 150% rate. Employees working night shofts between those hours will receive a 10% premium.

These changes are the result of several months of negotiations between the company and the Union. Discussions are continuing to finalize all details.
“We are happy with this medical package and the new overtime rates. The national staff will definitely do its best to contribute to the success of the company,” said a key unionist involved in the negotiations.

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