CHAMPIONS of wage depression.
This was how national labor center Kilusang Mayo Uno described today those who topped Forbes Magazine’s list of 50 wealthiest Filipinos, saying the billionaires are known for pressing down workers’ wages, promoting contractual employment, and curtailing workers’ rights.
The list showed that “the combined net worth of the Philippines’ 50 richest totaled $65.8 billion, more than a quarter of the nation’s Gross Domestic Product,” according to Forbes Magazine itself.
“The list is a who’s who in corporate greed and attacks on workers’ rights. Most people in the list have boosted their profits by pressing down workers’ wages, promoting contractual employment, and repressing workers fighting for their rights,” said Roger Soluta, KMU secretary-general.
“It is disgusting that big capitalists are able to increase their wealth amidst the worsening hunger and poverty among workers and the poor. The list is another proof that inequality, the distance between the 1% and the 99% in the country, is growing,” he added.
“This list further clarifies the kind of growth that Pres. Noynoy Aquino brags about. It is another confirmation that the so-called ‘economic growth’ is only felt by the wealthiest in the country,” he said.
KMU cited the No. 1 in the list, business tycoon Henry Sy, who amassed wealth by employing contractual salesladies in his SM department stores, contractual construction workers in his SMDC real estate developer, contractual bank employees in his Banco de Oro and Chinabank, among others.
Sy busted the genuine workers’ union in his SM department stores in 2003 and has worsened contractualization in the mall chain since.
The labor center said Sy has become the biggest philantrophist among the wealthiest Filipinos because he has saved up on labor costs by refusing to recognize workers’ basic rights and has been actively trying to deodorize his reputation.
“So-called CSR projects by big capitalists are meant to conceal their crimes against workers from the public’s view. It’s much cheaper for them to hold these CSR projects than to increase workers’ wages by a significant amount, regularize contractuals and recognize genuine unions,” Soluta said.
“It is clear that the biggest capitalists are having a grand time under the current president. Aquino has refused to hike wages by a significant amount, continued to legalize contractual employment, and upheld laws and policies that are repressive of workers,” Soluta said.
KMU said more and more workers express their readiness to fight to get a fair share of the wealth that they create but is being amassed by big capitalists.
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