Solon warns of more loss of jobs in PH

Surigao del Sur Rep. Johnny Pimentel on Sunday cautioned the loss of more jobs as he called for one-stop shops for laid-off workers

He urged for the creation of one-stop shops where laid off Filipinos could easily claim separation insurance, apply for skills retooling and seek reemployment facilitation, citing the coronavirus disease 2019 (COVID-19)-stricken economy is bound to shed more jobs in the months ahead.

“Government must provide physical locations plus a customized website where displaced workers can get all the help that they need from multiple agencies under one roof in just one stop,” he said.

“It pains us to see dismissed workers transacting tediously with multiple agencies to avail of assistance,” he added.

He urged the Social Security System, Public Employment Service Office, Technical Education and Skills Development Authority and local government units to work together in putting up the one-stop shops. The Surigao del Sur lawmaker said he sees more jobs losses in the months ahead, particularly in the banking and tourism industries.

“The bigger banks in particular might start reducing their headcount this year, once they get a better estimation of their bad loans,” he said.

The suspension of loan repayments mandated by Congress last year made it difficult for banks to fully ascertain their non-performing loans, he noted.

“There’s no question the post-pandemic banking landscape will involve fewer brick-and-mortar branches, with more Filipinos performing transactions online,” he said.

He cited the case of the Bank of the Philippine Islands and wholly owned subsidiary BPI Family Savings Bank, which have decided to merge to streamline operations.

Moreover, a number of large hotels might follow in the footsteps of Makati Shangri-La, which has decided to temporarily close its doors starting Feb. 1.

“The bigger hotels and resorts with more financial resources deferred labor retrenchments throughout 2020. They might start cutting those jobs now,” Pimentel said.

Topics: Johnny Pimentel , COVID-19 , Job loss , Economy , Social Security System , Public Employment Service Office , Technical Education and Skills Development Authority
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