The retrenchment by the Mactan Export Processing Zone’s largest group of companies of a quarter of its workers is ‘a portent of worse things to come’ says Partido Manggagawa
CEBU, Philippines – Five major garment companies at the Mactan Economic Processing Zone (MEPZ) in Lapu-Lapu City announced the lay-off of more than 4,000 workers in a joint statement on Thursday, September 29.
Mactan Apparels, Metro Wear, Globalwear Manufacturing, Feeder Apparel Corporation, and Vertex One Apparel Philippines, all belonging to the Sports City group of companies, said the firing involved a quarter of their workforce.
“As the world is now on the brink of the global recession with higher-than-expected inflation and the global financial conditions are becoming tighter, our business and that of our customers are not an exemption,” their statement read.
The groups cited the effects of Typhoon Odette’s aftermath, supply chain issues, increasing gas prices, and the ongoing conflict between Russia and Ukraine.