Note: this is narrowed down to IT industry to make it answerable.
I have asked this question which initially gathered several downvotes and a couple of close votes.
That was clearly my fault because I failed to properly describe the context and a few users thought that I am trying to ruin a colleague's professional life. Also, I think the IT market where I work is very different from the one assumed by the most active users around.
I am interested in what is the assumed context when the OP fails to properly describe it. This is vague, so I will describe the work market where I work to pinpoint what I am interested it:
IT work market - it is an "employees market". Virtually all employers are complaining about not being to find talented programmers, project managers etc. IT workers are among the best payed workers in the country. It is not unusual for experienced workers to be frequently called (LinkedIn etc.) for interviews.
payment - almost always on time and everything is official. This is normal in high developed countries, but in a country with high perceived corruption, there are many grey areas when it comes to employment and payment.
firing - (law) you cannot just fire a person which is a full-time employee. You must issue an official warning first and design a plan to try to find a better place for that person in your organization. Even if you manage to fire, the employees still 20 working days which can be reduced to allow them to find another job.
overtime - (law) normally a worker is not allowed to work more than 48h / week. Any full day overtime must be payed + free day. In practice, this is more flexible.
Question: What is the assumed work market context for IT related questions when it is not fully specified?