(UPDATED) The Department of Labor and Employment (DOLE) said Tuesday it was investigating lens manufacturer Cebu Nisico Corp following reports it had gone bankrupt.
Some 160 employees of the company based in the Mactan Export Processing Zone did not report for work last Monday.
If the company is confirmed bankrupt, displaced employees can avail of financial assistance, said labor department assistant regional director Cyril Ticao.
The employees sought help from the Associated Labor Unions-Trade Union Congress of the Philippines, a party-list dedicated to help laborers.
President Rodrigo Duterte will be informed of the case, said the labor group's spokesman, Art Barrit.
DOLE later confirmed that Cebu Nisico Corporation closed Sunday after declaring bankruptcy.
The bureau has mandated the company to pay displaced employees worth a month of salary, separation pay, and other benefits.
Cebu Nisico Corporation, through its HR officer Joeffrey Escala, said they will pay their employees on August 16.