Aboitiz Group to cut jobs due to coronavirus


Posted at Jun 24 2020 01:17 PM | Updated as of Jun 24 2020 04:23 PM

MANILA - The Aboitiz Group said Wednesday it would lay off some employees, joining other companies that trimmed their workforce due to the ongoing coronavirus pandemic.

"Substantial" separation packages will be given to those who will be laid off by July 31, Aboitiz said, without saying how many would be affected.

Okada Manila, AirAsia Philippines, Grab and Victoria Court earlier announced retrenchments as quarantines continue to restrict business and travel.

"This was not an easy decision for the Aboitiz Group to make but one that had to be done as it has not been spared by the health and economic crisis," the Aboitiz Group said in a statement. 
"The Aboitiz Group is confident the Philippines can weather this crisis and the country will continue with its economic growth," it added.

The group has interests in power, food, banking, infrastructure, property and construction. 

The Philippines' unemployment rate soared to a record 17.7 percent in April, bloating the total number of jobless Filipinos to 7.3 million.