News DOLE: More than 3,000 companies permanently close down; 90,000...

DOLE: More than 3,000 companies permanently close down; 90,000 workers affected

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The Department of Labor and Employment (DOLE) in the Philippines said that more than 3,000 establishments in the country have permanently closed or cut back workforce due the effect of Covid-19 in the economy, leaving 90,000 workers jobless. 

In a CNN report, Labor Assistant Secretary Dominique Tutay confirmed that there are 104,000 companies who chose to opt flexible work arrangements to have temporarily closed, affecting 2.8 million workers. 

In April this year, the Philippine Statistics Authority reported that there were at least 7.3 million unemployed adults in the country, for an all-time high unemployment rate at 17.7 percent. 

The national government has been helping these displaced individuals by giving a Php5,000 one-time cash assistance. 

To date, the agency has given the cash assistance to 657,201 formal sector workers, while 337,000 workers from the informal sector were already assisted through its Tulong Panghanapbuhay sa Ating Disadvantage/Displaced Workers or TUPAD. 

Ryan Namia
Ryan Namia spends most of his days reading over drafts of new written content and determining which ones make the final cut for online and print publication. He received his Bachelor's degree in Journalism in 2015 and has been writing since 2016. Got a story to tell? Email him at eic@theglobalfilipinomagazine.com. Or follow his IG @rtnamia.

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