Closures, retrenchment leave nearly 160K jobless

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    ALMOST 160,000 workers have already lost their jobs after close to 8,000 companies either shut down permanently or implemented retrenchment this year, which is highlighted by the coronavirus disease (COVID-19) pandemic.

    Based on the latest Job Displacement Monitoring Report of the Department of Labor and Employment (DOLE), a total of 7,759 companies had displaced workers totaling to 157,705, as of August 9.

    “A total of 157,705 workers were displaced nationwide from 7,759 establishments from January 2020 to present as reported by the DOLE Regional Offices, with 90 percent of which reduced workforce (6,993), while the remaining 10 percent reported permanent closure (766),” said the DOLE report.

    The report said the 766 firms that reported permanent closure displaced a total of 14,413 workers.

    On the other hand, the 6,993 companies that retrenched workers and affected 143,200 employees.

    In just the first nine days of August alone, a total of 16,134 employees from 944 firms have already lost their jobs.

    The month of June tallied the highest number of reporting establishments with 2,602, which meant the displacing of 50,589 workers.

    The National Capital Region (NCR) had the most number of displaced workers with 75,178; followed by CALABARZON with 32,421.

    Also having high number of displaced workers are Central Luzon (17,368), Central Visayas (8,788), Cordillera Administrative Region (5,407), and Davao Region (3,906).

    In terms of major industry group, having the most displaced workers were under administrative and support service (36,578), followed by the other service activities (20,689), and manufacturing (20,179).

    Also suffering massive job losses are the accommodation and food service industry (14,638), information and communication (12,895), and wholesale and retail trade, repair of motor vehicles and motorcycles (11,357).