The Department of Labor and Employment (DOLE) reported today the settlement of the labor dispute at Asiatrust Development Bank, six others in the National Capital Region (NCR), and one in Region 3 (Central Luzon) benefiting 420 workers who received a total of P10.9 million in monetary compensation.

DOLE Undersecretary Manuel G. Imson reported to Labor and Employment Secretary Patricia A. Sto. Tomas that the labor dispute at Asiatrust Development Bank was settled after the contending parties agreed to conclude their two-year collective bargaining agreement (CBA).

Imson said the parties agreed to implement the pick-up tellers’ allowance/hazard pay at P20 per trip retroactive to November 1, 2001 and a P600 salary increase for the 4th and 5th year of the CBA.

He said union and management also agreed that covered employees receive a P6,250 signing bonus, adding the total CBA benefits for two years was estimated at P3 million benefiting 147 workers.

At the Copacabana Apartment Hotel dispute, Imson said the parties settled the issues on illegal dismissal and non-payment of service charges by signing an agreement which stipulated, among others, that complainants accept their employment with Copa Clean Service and Maintenance Corp. (CCSMC) and the termination of such employment effective February 2, 2005 due to closure of the business.

CCSMC, on the other hand, agreed to pay all regular employees separation pay equivalent to one month salary for every year of service to be paid 50% upon execution of the agreement and another 50% on March 2005. The company also agreed to pay its employees their accrued service charges for the period December 2002 to December 2003 and January to August 2004.

Imson said the total amount of separation pay and benefits for the 27 affected CCSMC workers was estimated at P2.7 million plus the accrued service charges amounting to P2.3 million.

The other settled labor disputes were at the Whistlestop Food Services, Inc., Sobien Food Corp., Food Series Inc., Manila Bay Hosiery Mills Inc., Pearl Island Commercial Corp. in the National Capital Region and Philippine Recyclers Inc., in Bulacan.

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