Manila mulls bonus for not firing staff

MANILA The Arroyo administration is seriously considering the granting of incentives, particularly tax breaks, to companies that decide not to retrench their workers even in the face of the deepening global and financial crunch, the chairman of the Board of Investments (BOI) disclosed.

Undersecretary Elmer Hernandez of the Department of Trade and Industry, who is also the BOI chief, explained the incentives are to be granted in a determined attempt to keep the country’s employment levels at a minimum despite the ongoing crisis.

Earlier, the Department of Labour and Employment warned that at least 10,000 Filipino workers have been retrenched since the country started feeling the adverse impact of the crisis in late 2008.
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