**Author note**

The author is also a Research Fellow of the Economic Research Forum, Cairo, Egypt and an affiliated Associate Professor at the International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University, Atlanta, Georgia, US.

<sup>19</sup> Severance pay was reduced by more than 50 percent from 45 to 20 days. Notice period was reduced from 30 to 15 days regardless of length of employment.
