DOLE says over 2,000 companies declared permanent closure and retrenchment due to COVID-19 - Android

A lot of unfortunate and sad things had happened due to the pandemic. One such disappointing action is to let go of several workers in different companies. This is a huge blow towards employees all across the nation as over 2,000 companies permanently closed down, turned to redudancy, and even retrenchment. Heartbreaking to say, but […] More

This article, DOLE says over 2,000 companies declared permanent closure and retrenchment due to COVID-19, was originally published at NoypiGeeks | Philippines Technology News, Reviews and How to's.

A lot of unfortunate and sad things had happened due to the pandemic. One such disappointing action is to let go of several workers in different companies.

This is a huge blow towards employees all across the nation as over 2,000 companies permanently closed down, turned to redudancy, and even retrenchment. Heartbreaking to say, but even employees with years of service has, unfortunately, come to an abrupt end. 

An example of this is one Sheryll Buquiran who has been working at Fun Ranch for 12 years until the childrens’ fun park finally announced that it was time to say good-bye for good. 

Buquiran is not the only one to suffer the immediate closure, but over 69,022 like her have officially lost their jobs. 

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The Department of Labor and Employment (DOLE), during this painful time, also reminded the employers of the companies to grant their workers the separation pay. The law declares that an “employee is entitled to receive the equivalent of one month pay or one-half month pay for every year of service, whichever is higher”. 

There are economists, however, who believe that the high rate of unemployment is only temporary. With the virus forcing companies to close, they believe that things will turn around when everything gets better again. 

However, it is quite devastating to see many Filipinos suddenly lose their jobs. There are those who are living in fear that, one of these days, their companies would declare of letting them go. 

Hopefully, priorities are settled and we shall see a bright future despite the loss of today.

This article, DOLE says over 2,000 companies declared permanent closure and retrenchment due to COVID-19, was originally published at NoypiGeeks | Philippines Technology News, Reviews and How to's.