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Wage increase to spark layoffs - employer group


MANILA, Philippines- A significant number of workers stand to lose their jobs due to the recently granted wage hike given to those employed in the National Capital Region. Employers Confederation of the Philippines president Sergio Ortiz Luis Jr. said on Thursday that the wage hike will force most of small and medium enterprises based in Metro Manila to downsize their workforce. Luis said that overall, workers actually received an P85 per day wage adjustment. During Thursday's 29th National Conference of Employers, President Gloria Macapagal Arroyo announced the National Capital Region (NCR) wage board has agreed on a P20 wage adjustment for minimum wage earners. Congress is also on its way to approving a bill exempting minimum-wage earners from paying income taxes. Luiz said exporters, who are already beleaguered by high oil prices and the strong local currency, would be hardest hit by the adjusted wages. - GMANews.TV
Tags: wagehike
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