MANILA, Philippines - Layoffs loom at the Privatization and Management Office (PMO), as the Department of Budget and Management approved its reorganization plan.
In a statement, the DBM said it has approved the reorganization plan, which would reduce the PMO's personnel services appropriation to P27 million, 40% lower than its budget last year.
"In order to streamline PMO’s operations, attract highly qualified applicants to beef up PMO’s workforce with experienced professionals, promote efficiency and enhance the quality of services to PMO’s stakeholders, the DBM proposed the abolition of 187 positions in the PMO and authorized 76 authorized positions, four of which are new," the DBM said.
Affected personnel may choose to avail of the retirement/separation benefits under existing laws.
Under the plan, the PMO will retain its core functions, programs and services, as well as assume the functions of the Board of Liquidators (BOL).
"Thus, the PMO will be administering and disposing of properties transferred to the government, settling conflicts of claim involving former enemy-owned or alien properties, extra-judicially attaching and repossessing properties of delinquent Reparations Commission end-users, and closing the books of accounts of the BOL and its abolished corporations," the DBM said.