Okada Manila President Takashi Oya announced to staff on Tuesday that more than one thousand employees would be laid off as part of a retrenchment program to remain “a viable business” in the Covid-19 era.
“Not having any revenues since the lockdown has been financially draining and caused severe losses to the company,” Oya’s letter to staff explained, “and if this is not addressed, its losses will pile up. Okada Manila is also constrained to change the way it does business, which means it will just require a smaller workforce.”
Oya indicated that notices to employees who will be laid off will begin to be delivered from June 15, and that those affected will receive a separation payment.
“The fight is not yet over, but we remain confident that we will triumph over Covid.”