Construction workers work on the steel foundation of a building in downtown Davao City on 28 November 2017. MindaNews file photo by MANMAN DEJETO DAVAO CITY (MindaNews / 29 December) – A total of 8…
Construction workers work on the steel foundation of a building in downtown Davao City on 28 November 2017. MindaNews file photo by MANMAN DEJETO
During the “One Davao: A Virtual Presser” on Wednesday, NEDA-Davao director Maria Lourdes Lim said that the top reason for retrenchment of workers is the impact of the COVID-19 pandemic on the financial resources of the companies in the region. She said a total of 447 distressed establishments in the region decided to reduce their manpower or were forced to retrench workers.
Lim said the number of firms that implemented retrenchment in 2022 was lower by 21 percent compared with 566 firms last year.
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