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Oct 19, 1998

Layoffs ahead for RECONDEV

The Reconstruction and Development Corporation has announced that in the interest of proper financial management, they will be forced to let go a number of staff members. RECONDEV says that although their work has not appreciably increased over the past five years, since 1993 their administrative staff, hired laborers and wage bill have more than doubled. The management has already done some groundwork in the downsizing/restructuring exercise, determining how many staff it will need to maintain its operations. The management, headed by General Manager Aloisus Palacio, will meet with representatives of the Christian Workers Union tomorrow. After that, the matter will be taken to the Board of Directors on Thursday night. According to RECONDEV, the layoffs which could include as much as sixty percent of the staff, will be carried out using the last in, first out criteria and determinations will be made between productive and non-productive long term workers.

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