CFP has promised to pay 50 million baht ($1.67 million) severance for termination of the subcontracted labour, reports DVB.
The company will soon suspend operations due to a material shortage caused by early mortality syndrome (EMS).
In early 2014, hundreds of Burmese workers had been laid off with no compensation. Workers complained to Thailand-based Migrant Worker Rights Network (MWRN) who advocated on their behalf.
Aung Kyaw, MWRN chairman, told DVB that the amount of the compensation being offered by CFP is the highest in history. The severance agreement was reached after negotiations between the Thai government, employers, workers and the MWRN.