Buying out the length of service does not conform to the labor law, but enterprises may lay off employees because of overstaffing. The regulations for layoffs at Pangang are that gay men who have worked for 30 years and reached 50 years of age will be paid living expenses, and social security will be paid by the unit to the statutory retirement age. Comrades who are less than 5 years away from the statutory retirement age retire internally, and the social security fees are paid by the unit and myself to the statutory retirement age. Other laid-off workers pay laid-off compensation according to the compensation standard of one month's salary every year.
Buying out the length of service is actually a way to terminate labor relations. It is to convert the compensation amount according to the length of service of the workers and terminate the labor relationship after the buyout.