KMU expresses concern for Banco Filipino workers

Labor center Kilusang Mayo Uno expressed concern over the future of the 900 employees of Banco Filipino who were recently suspended after the Bangko Sentral ng Pilipinas placed the thrift bank under the receivership of the Philippine Deposit Insurance Corporation. The workers’ suspension will take hold for the duration of the investigation, which could take four months.

“Amid the skyrocketting prices of basic goods and services, it will be difficult for the suspended Banco Filipino employees and their families to survive without government help. How can you survive when your salary is on hold, your savings are also deposited in Banco Filipino, and your retirement pay and benefits are in limbo? The Aquino government should take appropriate actions to help the Banco Filipino employees and their families,” said Roger Soluta, KMU secretary-general.

KMU also slammed Malacañang spokesperson Edwin Lacierda for saying that what happened to Banco Filipino is just a “pure and simple banking matter,” when majority of the bank’s depositors are ordinary people, mostly workers and urban poor, with small savings from their work.

“We have no doubt that for the people in Malacañang, the Banco Filipino issue is just a banking matter. For us ordinary workers and people who work hard everyday and receive extremely low wages, however, this is a matter of survival. For the 900 employees and their families, what is at stake is the future. As if the whole Porsche fiasco isn’t enough, Lacierda’s statement again shows that the Aquino government has little concern for small people like us,” said Soluta.

“The Aquino government should address the situation of the employees of Banco Filipino. Workers who worked hard when the bank was still doing well should not be the ones to suffer from mistakes committed by investors,” Soluta added.