MANILA, Philippines — In just a week, the Department of Labor and Employment (DOLE) saw nearly a hundred establishments added to the list of businesses forced to close shop due to the coronavirus disease.
Based on Dole’s latest job displacement report, 501 businesses have decided to permanently shutter their operations, up by 93 from last week.
Another 508 establishments reported they had to downsize their workforce, bringing the total number of businesses that have resorted to retrenchment to stay afloat to 4,454.
As a result, there are now a total 121,921 workers who have been displaced due to retrenchment or permanent closure of their companies, as of July 12. Nearly 11,000 of these workers are employees of businesses that have closed shop.
—Jovic Yee