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The Philippines is considering a 24 billion-peso ($499 million) wage subsidy plan that could help pandemic-hit companies retain as many as one million workers.
Small businesses that have reduced work hours or temporarily closed will be prioritized, Trade Secretary Ramon Lopez said in a virtual employment summit on Saturday. The plan, which is under review by economic managers, will provide a monthly subsidy of 8,000 pesos for each worker for three months.
“The proposed wage subsidy program is a safety net program which aims to save jobs, promote employee retention, and augment income loss of affected workers,” Lopez said… Read More
