News Formal

Big business heeds President's call to avoid lavish Christmas parties

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 19 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 92%

Big News

Business,Heeds,President's

MANILA, Philippines — Big business heeded the call of President Ferdinand Marcos Jr. to avoid lavish Christmas parties and instead give the money to their employees as additional incentives.

'A lot of our member companies will give the money to their employees as an additional benefit rather than spend it on extravagant parties,' said Sergio Ortiz-Luiz, president of the Employers Confederation of the Philippines .The ECOP, which has more than 600 members, is the umbrella organization and single voice for the entire business community on important national issues related to employment.

But Ortiz-Luis said that the same could not be done by small establishments which comprised more than 90 percent of businesses in the country.Record shows that 99.6 percent of companies in the Philippines are micro, small and medium enterprises or MSME but they contribute 30 percent to the country's gross domestic product and 60 percent to job generation.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Big business heeds President's call to avoid lavish Cnristmas partiesMANILA, Philippines — Big business heeded the call of President Ferdinand Marcos Jr. to avoid lavish Christmas parties and instead give the money to their employees as additional incentives.
Source: TheManilaTimes - 🏆 2. / 92 Read more »