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Friday, March 29, 2024

‘No ME job losses despite oil price drop’

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The Department of  Labor and Employment  is monitoring the situation in the Middle East, particularly with respect to the possible retrenchment of overseas Filipino workers due to falling oil prices and other political developments.

“According to [Labor] Secretary [Rosalinda] Baldoz, the DoLE has not monitored any major retrenchment activity that could possibly affect Filipino workers in Saudi Arabia and neighboring countries in the region,” said Communications Secretary Herminio Coloma Jr.

Coloma said DoLE is prepared to assist workers that may be affected in securing alternative employment and livelihood opportunities.

“DoLE is confident that OFWs will continue to be employed under existing contracts. Even in light of the previously announced policy on ‘Saudization,’ there was no apparent effect on the level of employment of OFWs as they have proved to be highly qualified and competitive,” Coloma also said.   

As the prices of oil per barrel continue to plummet, groups and advocates for overseas Filipino workers warned about the possible retrenchment of Middle East-based migrant workers in the coming months.

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“It is already leading to lay-offs and delayed payments of salaries…. The numbers are not yet alarming, but certainly we all must be prepared for any economic contingency arising from the current oil situation,” OFW advocate Susan “Toots” Ople said.

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