Workers opt to leave as NDB restructures

The latest departures bring to 23 the total number of workers to have left the statutory bank since it kicked-in a new structure at the beginning of September. Out of this figure, 14 workers, including two executives were retrenched, while 34 had been asked to consider demotion or the exit door.Workers previously told Business Week that the 34 would be given a percentage of the package agreed with those retrenched. They have to accept pay cuts of up to P8,000 per month.

It is understood the latest departures are from the group of 34 and some long-serving staffers who chose to take up the exit package.Documents given to the Business Week indicate that of the 160 letters issued to staff late in August advising recipients of their fates in the new structure, the NDB's Appeals Committee is considering only four cases.