GSIS to axe executives in major shakeup

Published by rudy Date posted on May 16, 2011

THE Government Service Insurance System is implementing a reorganization that will cut the number of top executive positions in the pension fund to make it more efficient, industry sources said over the weekend.

The pension fund’s top executives would know by today who of them would no longer hold positions after the reorganization, the sources said.

The pension fund’s Web site says it has three executive vice presidents—one each for the corporate support, operations and finance groups.

It has seven senior vice presidents positions—two in the corporate support group, three in operations, and two in finance. It also has 29 vice presidents distributed across the three groups—including one under the Office of the President and General Manager.

The pension fund has 3,100 employees nationwide. It has been criticized as a result of the excessive bonuses and perks that its top executives are said to have been receiving.

The sources said the new management led by GSIS president and general manager Robert Vergara had conducted a study to implement the revamp.

They said the study found that the three EVP positions should be removed because they were redundant, and that only 13 out of the 29 VP positions should be retained.

All executive positions from vice president and up were now vacant and would be filled only once the reorganization was complete, the sources said.

They said all GSIS employees were consulted about the looming reorganization via an online survey conducted from late last month up to the first week of May.

The survey asked all employees which executives they wanted posted in the various positions. Those holding executive positions were also asked which office they preferred to hold and where thought they would be more effective. Everyone was given up to three choices.

Chairman Daniel Lacson Jr. was earlier quoted as saying policy changes and management reorganization were under way at the GSIS to provide faster and better services to its clients.

“We are flattening the structure by taking away unnecessary layers that only delay decision making and the servicing of clients,” he said. –Elaine R. Alanguilan, Manila Standard Today

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