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What does paid short-time mean?

Your employer can ask you to stay at home or take unpaid leave if theres not enough work for you. A lay-off is if youre off work for at least 1 working day. Short-time working is when your hours are cut.

What is short-time compensation benefits?

STC allows employers to reduce hours of work for employees rather than laying-off some employees while others continue to work full time. Those employees experiencing a reduction in hours are allowed to collect a percentage of their unemployment compensation (UC) benefits to replace a portion of their lost wages.

What is the short term compensation fund?

Short-time compensation is an unemployment insurance program that gives employers and workers optional flexibility during times of reduced work. Also known as workshare or short-work, STC allows an employer to reduce hours in variable ways across employees, as best suits the business.

How much does California Workshare pay?

The Work Sharing benefits for this employee are 20 percent of the unemployment benefits the employee would receive if the employee were totally unemployed. If the employees weekly unemployment benefit amount is $300, the employee would qualify for $60 in Work Sharing benefits.

What is short and long term compensation?

Bonuses are short-term compensation programs typically based on meeting immediate performance targets or achieving quarterly goals, whereas LTIs are long-term incentives tied to performance over a longer period, such as several years.