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The fashion industry is in trouble. This is the figure that illustrates how much - voila! Fashion


The fact that the sector is in crisis is not new, but the disparities between the withholding of wages in the fashion and clothing sectors are alarming. Are we facing a wave of chain and store closures?

An entire industry is in trouble, and the effects are still being felt.

A shopping mall during the Corona days (Photo: ShutterStock)

8.7% of the workers in the fashion and clothing industry received their salary late in December - a figure that reflects a gap of 36% from what is done in the other industries in the economy.

This is according to a survey conducted recently by the Okets Systems company. According to the survey data, the average wage withholding in the last 4 months [September - December] in the clothing industry is 8.2%, while in the rest of the sectors in the economy - 6.5% - a gap of 26 %.

Wage withholding is a reliable indication for examining the financial strength of the business, as employers tend to withhold wages only when the cash flow is damaged and the financial liquidity of the business does not allow them to meet their obligations on time. These data raise the question of whether we are facing a wave of chain and store closures Fashion.

As part of the survey, Oketz Systems, a company that provides computerized solutions in the field of human resources, examined 3,524 pay slips that were produced for the monthly wages paid to employees in the months of January 22 - December 22, employed in 203 businesses (each month we examined this number of slips), half of which belong to the clothing and fashion industry and the related industry.

The company examined the date on which the company paid the monthly salary to its employees, when salary withholding for the purpose of this examination was determined whenever the salary was transferred on a date above the 10th of the month.

What is their salary?

Molen's salary is a salary that is due to the employee for the work he performed, and which was not paid to him 9 days after the fixed date for payment.

According to the Wage Protection Law, if there is no other arrangement in the workplace, the fixed date for payment of wages is the end of the month (the last day of the month). That is: an employee who did not receive his salary on the 10th of the month, is an employee whose salary was paid by the employer, For the beginning of the month.

The gaps between the field of fashion and other industries (photo: Walla system)

Haim Molcho (Photo: Yehats)

Haim Molcho, CEO of Okats Systems, summarizes simply: "Employers should not take it easy in the matter of the salary payment date, as delaying it exposes them to criminal, administrative sanctions as well as civil lawsuits."

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Source: walla

All life articles on 2023-02-02

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