Photo from dbp.ph
At least three-fourths of the Development Bank of the Philippines' (DBP) more than 4,000-strong workforce are in danger of losing their jobs should the proposed merger with the Land Bank of the Philippines materialize, the state-owned lender’s chairman said Tuesday.
At a press conference in Makati City, DBP chairman Dante Tiñga said that the proposed merger is strongly opposed by officials and employees of the DBP as most of them “would lose their jobs if the merger pushes through with Landbank as the surviving bank.”
Tiñga said that three-fourths or about 75% of the bank’s workforce “would become unemployed.”
“That’s roughly 3,000 [employees],” he said.
On Friday, Finance Secretary Benjamin Diokno defended the...