SM unfazed by calls to end ‘endo’

SM Investment Corp. (SMIC), the holding firm of the Sy family, is unfazed by the presidential candidates’ vow to end job contractualization, saying that they would abide by the law and find ways to survive.

SMIC President Harley Sy, speaking to reporters after the company’s annual stockholders’ meeting on Wednesday, said that the conglomerate is not in any way engaged in contractualization of employees, commonly known as “endo,” a scheme by which employees are hired for less than six months, and thereafter terminated to avoid their employment from ripening into regular employment.