When my mom lost her job because their company closed, our family suffered much financially. She is the breadwinner of our family since my father died at a very young age. My siblings and I were all studying at that time and we were all in private schools. What happened was, my little brother and sister transferred to a public school when my mom lost her job, while I remained in a private school since I am close to graduating at that time.
I thought that I can’t go on to study in College because I knew it would be hard for us but my mom was wise enough to get me an Educational plan, so I was able to finish my College days.
I am telling you this story because I have heard that almost 300 Employees of the Steel Corporation of the Philippines are at risk of lost their jobs because the Batangas Regional Trial Court Branch-3 have bind to the “liquidation proceedings” of their company.
According to some employees of SCP who went to Batangas City Hall of Justice recently, they are afraid of losing their jobs especially now that Christmas Season is just around the corner just because of the lack of knowledge of RTC Branch 3 Judge Ruben Galvez about the real status of their company.
The court order started after SCP got a loan amounting to P1.3-B from several creditors, one of these is Banco De Oro (BDO) which is owns by business tycoon Henry Sy of Shoemart.
When it became hard for SCP to pay their debt, they had no choice but to accept the corporate rehabilitation which would later lead to the liquidation proceedings which was approved by Judge Galvez.
It all started when it was stated by Atty. Norma Singson De Leon that the company does not operate anymore and that the vicinity is already locked. This was the thing that made Galvez push through with the liquidation order.
But Rodriguez it stating otherwise. He says that the company is “fully-operational” and there was never a time that their company ceased operation.
“Although BDO assured that if the liquidation proceedings is carried out, they will take care of the financial aspect of the affected workers, what assurance can they give that they are talking about the continuous employment of the workers and not talking about the separation pay of the workers?” asked Atty. Herman Nicdao.
The people from SCP are imploring the court to have a second look at their case not only for the fate of the company but for the lives of the 300 employees that are on the verge of losing their jobs.
photo via: blog.gulpfish.com/
- Steel Corporation of the Philippines (SCP), placed under liquidation proceedings
- The death of Philippine Steel
- On judging someone by his/her appearance!
- Long Lost Friends Found in Short Quick Strokes
- Some benefits of wearing uniforms