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T&G sector strikes balance between layoffs & reducing workdays
11
Feb '09
The current global recessionary tsunami like crisis is sparing no one in its wake. Slowly but surely, it has started affecting the industrial sectors of countries across the globe, with the worldwide textile and garment industry being no exception.

Philippines one of the key exporting countries from the sector has also started to feel the pinch. The textile industry in the region of Cordillera is going through its worst period ever seen in the last few decades, with exports dipping alarmingly.

Companies have started to cut down on their operating capacities resulting in layoffs for workers. They are desperately trying to survive through this turmoil by implementing different strategies to continue their existence.

The garment manufacturing companies are trying to avoid layoffs by reducing the working hours or by cutting the working days in a month to ensure that joblessness is not created due to the crisis.

Narda's, the crown jewel among the textile units in the region and which is credited with introducing the famous Cordillera fabric to the world has also seen its shipment falling alarmingly by nearly 30 percent in the last few months.

Fibre2fashion News Desk - India


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