According to local media reported on the 29th, the internationally -renowned German underwear maker Triumph will be closed due to business strategy to adjust its two factories in Manila, the local 1662 employees will be dismissed, some employees to vent dissatisfaction at the factory door hanging female Underwear and slogans in protest.
Reportedly, Triumph management announced the decision on the 27th when it held talks with union representatives and Philippine Labor and Employment officials. Company executives said the international financial crisis has had a major impact on the company's operations. The closure of the two underwear factories located on the outskirts of Metro Manila is part of Triumph's global resource restructuring plan and management "regrets" to make a layoff after careful consideration of.
The union chiefs of the two underwear factories accused Triumph of closing down factories. The move violated the Philippine law on job security and the previous agreements the company had reached with trade unions and organized some employees to hang underwear at the factory gate on the 28th protest.
It is understood that the financial crisis has forced a number of multinational corporations, including Intel, to close their factories in the Philippines. Official data show that the jobless rate for the Philippines in April was 7.5%.