But it’s safe to say we expected it least from this blue-chip corporation, long regarded as an employer of choice and a symbol of steady stewardship in Philippine business.
Its recent round of job cuts blindsided employees, more so given the upbeat messaging from its CEO earlier this year.
Workforce reductions can happen in any organization as business priorities change or strategies evolve in response to shifting conditions.
But observers familiar with this group’s traditions said these moves were usually telegraphed in advance and with much greater sensitivity and dignity for the employees.
They concede it’s very different, especially after the controlling family ceded day-to-day operations of this firm to professional managers a few years ago.
What’s painful for employees is that there’s no clear transition for many of them and severance packages were handled inconsistently, even differing from their original hiring terms.
Another detail shared by insiders: human resources rolled out promotions just weeks ago, boosting morale, only to undercut it with news of the job reductions.
Again, not what we expected from this company.
We’re told top management felt the organization had grown too bloated after robust hiring in 2025, triggering the March culling that forced employees into retirement or redundancy.
Several dozen employees are already being let go, and the manner and speed with which it was carried out has left remaining workers anxious and wondering if more will follow in the coming months.
Is the situation really that difficult at this blue chip despite still being very profitable?
Time will tell, but for now, this is a critical period for the firm to rebuild confidence and review how future workforce changes are handled.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
