Closures, retrenchment leave over 135K jobless

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    MORE than 135,000 workers have already lost their jobs after over 6,000 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 6,500 companies had displaced workers totaling to 135,162, as of July 26.

    “A total of 135,162 workers were displaced nationwide from 6,500 establishments from January 2020 to present as reported by the DOLE Regional Offices, with 90 percent of which reduced workforce (5,867), while the remaining 10 percent reported permanent closure (633),” said the DOLE report.

    The report said the 633 firms that reported permanent closure displaced a total of 12,574 workers. On the other hand, the 5,867 companies that retrenched workers and affected 122,588 employees.

    In July alone, a total of 30,444 employees from 2,518 firms have 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 57,241; followed by CALABARZON with 31,541.

    Also having high number of displaced workers are Central Luzon (16,477), Central Visayas (7,326), Cordillera Administrative Region (5,376), and Davao Region (3,897).

    In terms of major industry group, having the most displaced workers were under administrative and support service (32,578), followed by other service activities (20,038), and the manufacturing sector (18,423).

    Also suffering massive job losses are the accommodation and food service industry (12,267), wholesale and retail trade, repair of motor vehicles and motorcycles (6,256), financial and insurance activities (6,141), and information and communication (6,073).

    Nearly all business establishments in the country stopped their operations when most provinces in the country were placed under strict stay-at-home regulations to prevent the spread of the infectious virus.