MANILA – Yuchengco-owned House of Investments Inc said Tuesday it is restructuring its car dealership business starting with the consolidation of Honda and Isuzu dealership and service centers in North Manila, displacing some 400 workers.
Honda Cars Fairview, Marikina, Macros Highway and Caloocan will “wind down their operations,” HI said in a statement, but Honda dealerships in Quezon City, Greenhills, Manila and Tandang Sora are ready to receive additional clients.
Isuzu Commonwealth and Manila are prepared to receive clients from Isuzu Greenhills, it said.
Some 400 employees were displaced in the affected branches, HI said.
“In streamlining the operations, the company has identified positions and functions in excess of what is reasonably demanded by the restructured organization,” House of Investment’s senior vice president for Car Division head Johnny Fetalvero said.
These employees will receive separation benefits in accordance with the law, and support in the form of re-training, career counseling and a job placement program, Fetalvero added.
"The company wishes to assure its clients and the public that the consolidation notwithstanding, it will be able to continue to fulfill the demand for good quality vehicles, and that personalized aftersales service will be retained through its other dealers," the statement said.
The company is fast-tracking its digital transformation to streamline the business, it said, with new technologies allowing dealerships to digitize some sales and customer service processes.
Commercial vehicles over personal car purchases as well as hybrid and electric cars are likely to grow as consumer demand shifts, it said.
The company operates car dealerships under the Honda and Isuzu brands.
HI is one of the four major flagship corporations of the Yuchengco Group of Companies. -- with a report from Cathy Yang, ABS-CBN News