Maynilad workers stage protest rally

At least 200 employees of the cash-strapped Maynilad Water Services staged a protest rally yesterday morning after the water firm set a mandatory one-month leave without pay for all its workers.

The Lopez-owned water concessionaire, which has been desperately finding ways to save money after the devaluation of the peso affected its financial obligations, is now planning a "cost-cutting measure" at the expense of its employees.

Maynilad employees from its various departments held a prayer rally outside the water firm’s building, to try and stop their superiors from implementing the memorandum.

According to Jess Matubis, manager of corporate affairs, the water firm is in deep financial straits, and this move will surely help Maynilad save some money.

"We are in a crisis mode right now, and we just have to wait if the management decides to consider and implement this option. We really have to reduce our expenses," Matubis told The STAR in an interview.

Matubis said that Maynilad’s financial woes began when the devaluation of the peso brought serious problems to their foreign financial obligations. He said that the firm is so strapped for cash that they even failed to pay MWSS its concession fees reportedly amounting to about P550 million.

He added that their only hope now is the P350 million loan they are seeking from the World Bank next month.

All the employees’ "forced leave" is not yet implemented, managers and head officers of various offices are likely to keep the said option open, regardless of what takes place with the loan sought for.