JOBS ACT: THE FIRST TWO IMPLEMENTING DECREES OF THE REFORM BECOME EFFECTIVE (IL SOLE 24 ORE, 7 MARCH 2015, PAGE 2)

The first two implementing decrees of the Jobs Acts, the one on contracts with increased protection based on seniority and the one for overhaul of social shock absorbers, were published in the Official Gazette of 6 March this month, becoming effective 7 March 2015. In terms of the contract with increased protection based on seniority, regulated by Legislative Decree 23/2015, the main new features include: (i) introduction of a compensation mechanism for cases of wrongful dismissal, based on job seniority and reinstatement only in certain cases; (ii) introduction of a new type of settlement with predetermined sums and linked to job seniority. In terms of the decree on social shock absorbers, the main innovation is represented by the so-called "Naspi" which will become effective 1 May.