Business and Economy
European IT firm pays P47-M to workers after halt in Cebu operation
CEBU CITY — A European software and information technology (IT) consulting company has paid out over P47 million in separation benefits to 135 workers after the firm ceased operation in Cebu City early this year, an official said.
Exequiel Sarcauga, Department of Labor and Employment (Dole) 7 Acting Director, lauded the Tri-City Field Office for efficiently expediting the payout.
Sarcauga said the separation package was given to the affected workers of Tieto Global Philippines.
The European firm used to operate a software research and development (R&D) and IT consulting company in Cebu City.
Cebu hosts hundreds of IT and business process outsourcing (BPO) firms employing more than 1 hundred thousand workers.
Sarcauga said the separation package includes the payment for each of the affected workers one and a half month for every year of service and continuous coverage of their existing health insurance.
Labor laws compliance officer Joji Alia facilitated the mediation proceedings between the firm and the workers.
The workers voluntarily executed quitclaim and release after the payment of their severance package.