About
405 workers of the Integrated Micro-electronics, Inc. (IMI), owned by the Ayala
Group of Companies will be laid-off due to a client had stopped placing orders
which forced the company to close the business unit. The company also added the
“cessation of operations” of one of the firm’s customer as part of the closure.
The
business unit involved manufactures liquid crystal display devices and “other
sub-assemblies.”
The
IMI has already notified the Department of Labor and employment (DOLE) that the
workers had been deemed “redundant”.
“All
405 affected employees, consisting of approximately 3% of the company’s total
employment pool, will receive all the benefits that they are legally entitled
to, and will be assisted through job placement programs and livelihood and
entrepreneurship seminars,” the company said in its disclosure.
Arthur
R. Tan president of IMI said that the company has able to prevent other
affected employees from being laid-off.
“The
total affected employees were over 1,000, however, we were able to absorb over
600 in other divisions that are growing. The balance of 405 was not absorbed
but [was deemed redundant]. We hope that the recovery of the global market
continues so that we can rehire these associates in the future,” said Mr. Tan.
“However
this does not affect IMI’s ability to deploy affected workers to its other
expanding business units and is not expected to significantly impact IMI’s
income forecasts for the current year,” the firm said.
Would you like to use this article in your e-zine, blog or website? You may do so as long as you acknowledge JobOpenings.ph as the source. Please inform us beforehand of your intention to republish the articles and provide the url address where the article will appear by dropping us a line at info@jobopenings.ph
