BUSINESS RETRENCHMENT CONTINUES TO BOG WV

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ILOILO CITY: Retrenchment of employees and business shutdowns continue to rock the business community in some areas of Western Visayas by the second quarter of 2013. A report from the National Economic and Development Authority (NEDA) regional office showed that retrenchment happened in 19 establishments affecting 125 employees in 2012 and 27 establishments affecting 182 employees in the second quarter of 2013. The NEDA reports also showed shutdown happened in two establishments in 2012 while nine establishments shutdown in the second quarter of 2013.

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