COVID-19 continues to hurt aviation, prompts Cebu Pacific to trim workforce by 25 percent

COVID-19 continues to hurt aviation, prompts Cebu Pacific to trim workforce by 25 percent

MANILA, Philippines—Cebu Pacific, the country’s largest budget airline, is reducing its workforce by 25 percent as it navigates a business environment dramatically reshaped by the novel coronavirus (COVID-19) crisis. Charo Logarta Lagamon, Cebu Pacific director for communications, told the Inquirer on Wednesday (July 8) that over 800 employees across the group will be laid off […]
IMF projection: PH economy to shrink by 3.6 percent

IMF projection: PH economy to shrink by 3.6 percent

The International Monetary Fund (IMF) has further downgraded its economic outlook for the Philippines, with the Washington-based multilateral lender projecting gross domestic product (GDP) to shrink by 3.6 percent this year. The updated GDP forecast in the IMF’s World...