MANILA, Philippines—Local telecommunication giant Philippine Long Distance Telephone Co. has swiftly struck what was described by the company chief as a “solid and mutually acceptable” collective bargaining agreement (CBA) with its employees.
“It strikes the right balance. Employees get substantial benefits. PLDT maintains a compensation structure that enables it to stay ahead in an increasingly tough and very competitive market,” PLDT president and chief executive officer Napoleon Nazareno said in a statement.
The CBA negotiations between PLDT management and the Gabay ng Unyon Sa Telekomunikasyon ng mga Superbisor (GUTS) were completed in nine meetings.
GUTS president Charlie A. Arevalo said the provisions in the agreement were substantial enough for the needs of PLDT supervisors.
“The intentions of both parties were met. The increases were substantial. I think the PLDT management was very transparent and they laid down the cards they could play. That helped us finish the negotiations early,” said Arevalo.
The CBA provides for an 8-percent monthly wage increase or P3, 000, whichever is higher, for 2011. For both 2012 and 2013, there will be a 9-percent wage increase or P3,000, whichever is higher.
Likewise part of the package was a P30, 000 goodwill signing bonus and a P40, 000 expeditious agreement bonus.
PLDT human resources head Butch Jimenez Jr. credited the leaders of GUTS led by Arevalo and the management negotiating panel headed by PLDT first vice president Emiliano R. Tanchico for the successful CBA negotiations.
PLDT is the country’s most valuable company with a market capitalization of P476.6 billion at the stock market. It employs around 13, 000 workers. –Doris Dumlao, Philippine Daily Inquirer
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