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PIA Press Release
2009/02/19

DOLE monitors effects of global financial crisis in local firms

by Venus G. Villanueva

Kalibo, Aklan (19 February) -- The Department of Labor and Employment (DOLE) here is currently monitoring firms and establishments which might be affected already by the global financial crisis.

Joselito De la Banda, DOLE Aklan Provincial Head said this is necessary to avert retrenchment of employees or closure of establishments.

De La Banda said DOLE has a Quick Response Team (QRT) ready to assist employees and employers who are apprehensive on the state of their establishments and working status.

Through the QRT, De La Banda said employers may get solutions to prevent closure or retrenchment of employees, such as reduction of work days, flexible working time, and utilization of leave credits, until such time when the company is stable enough to operate normally.

The national government, on the other hand, is readying various measures to help and assist displaced/retrenched workers as well as companies affected by the global economic meltdown.

These measures, enumerated by President Gloria Macapagal Arroyo in her speech during the Multi-Sectoral Jobs Summit in Malacanang recently, include the condonation of SSS on penalties and surcharges on loans of affected workers; establishment of stand-by fund by DOLE and the Overseas Workers Welfare Administration (OWWA) for displaced OFWs, implementation of training programs, reduction of cost of doing business by providing fuel subsidy to firms operating in the export business; having the government financial institutions provide loan facilities such as working capital, etc,

Just recently, the government also announced that it is going to spend P7 billion to hire 180,000 contractual employees.

Budget Secretary Rolando Andaya said these government vacancies have already been allocated funds for the purpose of hiring personnel, and these are in addition to the plans of Malacanang to order government agencies to set aside 1.5 percent of their maintenance and other operating expenses (MOOEs), estimated at P7 billion to hire 180,000 casual employees for six months. (PIA) [top]

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