Yuchengco firms say jobs secure

Date Published: May 5, 2020


THE Yuchengco Group of Companies (YGC) is assuring its employees that they will not lose their jobs and their salaries while Luzon is under enhanced community quarantine.

In a statement Monday, the conglomerate said it is abiding by the request of the Labor department to provide financial assistance to employees during this time.

“I would like to reassure that all employees of the Yuchengco Group of Companies (YGC) will continue to have jobs and none will be laid off and will continue to receive their full monthly salary, not charged to their 13th month pay,” YGC Chairperson Helen Yuchengco Dee was quoted as saying in a letter to Labor Secretary Silvestre H. Bello III.

YGC has businesses in the financial services, real estate, education, construction and health care sectors, among others. Some of these are Rizal Commercial Banking Corp. (RCBC); Malayan Insurance; Sun Life Grepa Financial, Inc.; Mapua Institute of Technology; and EEI Corp.

The company said upon declaration of the lockdown, it has allowed many of its employees to work from home. Those that are still reporting for work on a lean force are provided lodging and meals during the period.

“Through this gesture, we hope to provide our people with the necessary resources to meet the present challenges,” Ms. Dee said.

The Luzon lockdown is in place until midnight of April 13 to contain the spread of the coronavirus disease 2019 (COVID-19). Until then, a strict home quarantine is being implemented throughout the island, with the exemption of some such as those providing basic necessities. — Denise A. Valdez