Gov’t says export sector jobs at risk
Agence France-Presse
Inquirer.net
MANILA, Philippines — Jobs in the Philippines’ export sector will be at risk next year as the global financial crisis worsens, Labor Secretary Marianito Roque warned Monday.
His comments came after Texas Instruments, one of the largest employers in the local electronics industry, said it will lay off 400 workers, or nearly 20 percent of its work force in the northern resort of Baguio, from January 15.
Roque told reporters labor officials next month will visit the country’s export-processing zones, where most of the electronics companies are based.
Roque said the authorities did not know how many workers stood to lose their jobs. Electronics firms employ more than 300,000 people and account for nearly 70 percent of the country’s total export value.
Roque said a government study showed the sector would be among those to be hit hard next year as recession grips the United States and other key western export markets.
“Definitely the export industry will be affected,” Roque said.
“The export industry is dependent on credit so the effect will surely be considerable,” he added.
Philippine exports plunged 14.8 percent from a year earlier to $3.97 billion in October, the latest available official figures.
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