MALOLOS, Bulacan: Nacionalista Party senatorial candidate Susan “Toots” Ople is pushing for the recall of Bangko Sentral ng Pilipinas (BSP) Memorandum Circular 268, which allows banks to freely subcontract out in bulk jobs normally performed by their regular employees. Former Labor Undersecretary Ople said that labor unions have been strongly opposed to circular, which has already destroyed more than 7,000 regular jobs in the banking industry, according to Ople.
”There is merit to the grievance of bank labor unions that the circular abets unfair labor practices and union-busting, and threatens in a big way the job security of regular bank personnel,” Ople said.
“When permanent bank staff positions are demolished wholesale, regular employees and their families not only lose their source of livelihood, the labor unions that protect those [workers] left behind also get smashed or diminished considerably,” she added.
”Banks used to provide some of the most durable jobs in the country, with many personnel looking forward to stable employment until they grow old and retire. This is no longer the case now. Regular bank workers feel threatened by the BSP circular,” Ople said.
The BSP circular allows the subcontracting to independent service providers of eight banking operations or divisions: credit investigation and appraisal, credit cards, information technology, clearing, security, messengerial, tax management and financial accounting.
”This is basically labor-only subcontracting, where the contractor merely recruits, supplies or places workers to perform a job, work or service for the principal, in this case the bank,” Ople said.
Once elected to the Senate, Ople vowed to push for new legislation that would adequately safeguard
workers from the harsh effects of widespread labor-only subcontracting.
As a result of unchecked labor-only subcontracting, Ople said that on one hand many regular jobs across all industries are being lost.
”On the other hand, those engaged by subcontractors end up mistreated as mere temporary or part-time workers, and deprived of statutory wages and benefits, including mandatory social security and health insurance coverage,” Ople said. –Manila Times
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
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July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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