Mirant says separation policy finalized this week
Tuesday, October 24, 2006
A top executive of Mirant Philippines Corp. yesterday said the company will finalize its separation policy and release the 13th month pay for its employees this week, ahead of the sale of its assets in the country.
“We had announced the new separation policy, which is easily one of the most generous in the Philippines, and we are just putting the finishing touches to it. It can’t be done overnight since we have to follow internal processes and work on the details as well. But this a done deal,” Jose Leviste Jr., Mirant Philippines chairman and president, said in a statement.
Leviste said the employees would receive their gross 13th month pay in a few days as had been practiced by the company.
“Mirant has been very generous to all its employees and a quick comparison of what they get with those from other major Filipino corporations would clearly show that Mirant has pampered its workforce from the top all the way down,” he said.
“To be accused then by a few employees of racial discrimination might be simply an emotional outburst that will quickly dissipate once the issues are fully explained. For one, to ask to be paid one’s separation pay even if not separated from the company is surely not about race,” he said.
“To ask for more because the company is profitable, and quickly forgetting that Mirant’s local employees are among the best paid here, is also not about race,” Leviste said.
He said Mirant gave one of the highest salaries in the country and a separation package that could be the most generous on top of other benefits, including a monthly rice allowance.
“Our separation policy will give 2.5 months for every years of service. A year’s service is based on 14 months’ salary plus short-term incentive bonus and a rice allowance. Therefore, the base for 2.5 months is exponentially higher than the law’s requirement that it be based only on one month’s salary,” he said.
posted by philpower @ 7:35 AM,
