Latest news with #DOLE
GMA Network
13-06-2025
- Business
- GMA Network
DOLE: Over 3,000 job seekers hired at PH Independence Day fairs
Job seekers arrive at the activity hall of a shopping center in Pasay City for one of the nationwide job fairs of the Department of Labor and Employment (DOLE) on Philippine Independence Day, June 12, 2025. Courtesy: DOLE/ Facebook More than 3,000 job seekers were hired on-the-spot during nationwide Independence Day job fairs of the Department of Labor and Employment (DOLE). Based on the initial data from DOLE, a total of 25,876 individuals registered for the massive job fairs held across 50 sites in the country on June 12. A total of 3,364 applicants were hired on the spot, of which 274 were senior high school (SHS) graduates, one was a person with a disability (PWD), and 10 were Tulong Panghanapbuhay sa Ating Disadvantaged Workers (TUPAD) Program beneficiaries. They were hired for various positions such as cashier, service crew, production operator, ESL teacher, bagger, sales associate, clerk, production crew, loan officer, and store clerk. Meanwhile, the Labor Department said about 4,676 job seekers were classified as near-hires, pending final evaluations or document submission, while 21,419 were deemed fully qualified for the available positions. The DOLE last week announced it would conduct a nationwide job fair in commemoration of Independence Day. A total of 1,573 employers across the country participated in the event, offering 153,187 local and overseas job vacancies in the industries of manufacturing, retail, business process outsourcing (BPO), accommodation, and financial/ insurance activities. Top vacancies include production operators, sales clerks, call center representatives, service crews, and microfinance officers. The number of unemployed Filipinos aged 15 and up stands at about 1.94 million, or about 3.8% of the population, based on February 2025 data recently reported by the Philippine Statistics Authority (PSA). The figure for underemployment—or those who wish to have additional hours of work, another job, or a new job with longer hours of work, is at 10.1%. The government has reported improvements in these areas compared to January 2025 figures. — VDV, GMA Integrated News
GMA Network
13-06-2025
- Business
- GMA Network
DA, DOLE launch P20/kg rice for minimum wage earners
The government's P20 per kilogram subsidized rice can now be availed by minimum wage earners as the Department of Agriculture (DA) and the Department of Labor and Employment (DOLE) on Friday launched the nationwide rollout of the initiative for the sector. Late in May, the DA and DOLE announced their partnership to include minimum wage earners in the ongoing pilot run of the cheaper rice program. The DOLE said nearly 120,000 minimum wage earners from more than 500 establishments nationwide will initially benefit from the DA-DOLE partnership, 'with numbers expected to grow as more companies join the program.' 'This isn't just about rice—it is about dignity. It is about proving that government can deliver for the Filipinos who need it most,' said Agriculture Secretary Francisco Tiu Laurel Jr. 'We are fulfilling President Marcos' promise of affordable food—subsidized for now, but ideally self-sustaining in the future through agricultural modernization,' added Tiu Laurel. Labor Secretary Bienvenido Laguesma, for his part, said that expanding the program to include minimum wage earners will significantly advance the administration's goal of supporting the country's most vulnerable sectors. 'Yun naman ang gusto ng ating Pangulong Bongbong Marcos Jr., na ang lahat ay makinabang… Napakalaking bagay kung ang isang minimum wage earner ay makakabili rin ng bigas na P20 per kilo. Kung sampung kilo ang pwedeng bilhin... Mayroon siyang P100 o P200 na pwede niya namang mai-ukol sa iba pang mga bilihin, at siguro gaganda ang purchasing power po ng ating minimum wage earner,' said Laguesma. (That is what our President Bongbong Marcos Jr. wants, that everyone benefit from this program… It would mean a lot for a minimum wage earner to have access to P20 per kilo rice. If he is allowed to purchase 10 kilos... he could save P100 or P200 that he could spend on other essentials. It would greatly improve his purchasing power.) Known as 'Benteng Bigas, Meron Na!,' the program was first launched in Cebu on May 1, Labor Day. The rice sold under the program is sourced from reserves purchased by the National Food Authority from local farmers. Currently in its pilot phase running through December, the initiative aims to reach up to 14 million Filipinos, particularly vulnerable sectors such as solo parents, senior citizens, persons with disabilities, and indigents. President Marcos has ordered the DA to expand and sustain the program through the end of his term in 2028. —VAL, GMA Integrated News
GMA Network
06-06-2025
- Business
- GMA Network
72K job vacancies available in Independence Day job fair — DOLE exec
The Department of Labor and Employment (DOLE) is set to hold nationwide job fairs in 49 sites in the country on June 12, Independence Day. According to DOLE, at least 72,000 job vacancies are up for grabs during the job fairs, with at least 800 employers participating from the industries of manufacturing, retail, BPO, accommodation, and financial/insurance activities. Top vacancies include production operators, sales clerks, call center representatives, service crews, and microfinance officers. 'Inaanyayahan natin ang mga kababayan natin na magtungo sa ating online job matching portal,ang PhilJobs, kung saan nandun ang mga bakanteng trabaho nabahagi ko at iba pang trabaho io-offer sa Araw ng Kalayaan,' DOLE Bureau of Local Employment head Assistant Secretary Patrick Patriwirawan Jr. told Bagong Pilipinas Ngayon on Friday. (We are inviting everyone to go to our online job matching portal — PhilJobs — where you can see job vacancies to be offered during Independence Day.) Patriwirawan Jr. reminded fresh graduates of their free access to pre-employment documents. He also advised job seekers to reach out to their nearest Public Employment Services Office (PESO) or DOLE regional or field offices to access the full list of venues, participating employers, and available job roles. Labor Day job fair Meanwhile, at least 5,000 job seekers were hired on the spot during the DOLE Labor Day job fair on May 1, according to Patriwirawan. This translates to 15% placement rate — higher than the 11% reported in 2024 . The DOLE offered 250,000 jobs during the massive job fair in May. — Sundy Locus/RSJ, GMA Integrated News
Yahoo
04-06-2025
- Business
- Yahoo
DOLE Q1 Earnings Call: Guidance Raised as Diversified Segments Offset Fresh Fruit Headwinds
Fresh produce company Dole (NYSE:DOLE) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 1% year on year to $2.1 billion. Its non-GAAP EPS of $0.35 per share was 10.7% below analysts' consensus estimates. Is now the time to buy DOLE? Find out in our full research report (it's free). Revenue: $2.1 billion (1% year-on-year decline) Adjusted EPS: $0.35 vs analyst expectations of $0.39 (10.7% miss) EBITDA guidance for the full year is $380 million at the midpoint, below analyst estimates of $384.6 million Operating Margin: 3%, in line with the same quarter last year Market Capitalization: $1.34 billion Dole's first quarter performance was shaped by varied dynamics across its core businesses. CEO Rory Byrne noted that both the diversified EMEA and Americas segments saw solid operational results, with strong like-for-like growth helping to counterbalance anticipated challenges in the fresh fruit segment. These challenges stemmed largely from the lingering effects of Tropical Storm Sarah, which raised sourcing and shipping costs. Byrne highlighted, 'Our production and sourcing teams are doing an excellent job mitigating this, and are working diligently to manage the reinvestment and rehabilitation process.' The completion of a major refinancing and the company's first dividend increase since 2021 also featured in management's review of the quarter. Looking ahead, Dole's updated guidance rests on expectations of continued balanced supply and demand in core categories like bananas and pineapples, as well as a potential tailwind from recent currency movements. Management cautioned that short-term risks remain, particularly from external factors such as tariffs, labor markets, and foreign exchange rates. Byrne stated, 'A good start to the year along with our resilient and diverse business model gives us confidence in our ability to navigate the challenges of the current volatile economic environment.' Strategic investments, particularly in automation and rehabilitation of storm-impacted assets, are expected to be partially offset by insurance proceeds. Management attributed the quarter's results to strong operational execution in diversified segments and effective mitigation of fresh fruit sourcing challenges. Key product categories and market dynamics shaped divisional performance across regions. Diversified EMEA outperformance: The EMEA segment (Europe, Middle East, and Africa) delivered strong like-for-like revenue and EBITDA growth, helped by robust demand in the UK, Spain, and the Netherlands. Recent strengthening of the euro is expected to shift from a headwind to a tailwind for future reported results, provided current rates are maintained. Americas segment resilience: Diversified Americas showed double-digit like-for-like EBITDA growth, driven by solid performance in North America (notably kiwis, citrus, and avocados) even as export markets normalized after a strong previous year for Chilean cherries. Management noted that distribution and handling businesses in North America contributed meaningfully to profitability. Fresh fruit cost pressures: The fresh fruit division faced increased sourcing costs and higher shipping expenses due to Tropical Storm Sarah's impact in Honduras and scheduled vessel maintenance. These headwinds were partially offset by higher banana volumes and improved pineapple pricing, but overall margins remained pressured. Strategic capital allocation: Dole completed a $1.2 billion credit facility refinancing, enhancing financial flexibility for growth initiatives. Capital expenditure focused on vessel dry dockings, farming investments, and warehouse efficiency projects, with additional incremental spend targeted at rehabilitating Honduran farms. Dividend policy milestone: The company announced its first dividend increase since 2021, raising the quarterly payout by 6.25%, reflecting management's confidence in long-term business prospects despite ongoing market volatility. Dole's outlook is shaped by expectations for stable demand in core categories, ongoing recovery from storm impacts, and evolving external risks including tariffs and currency movements. Banana and pineapple supply-demand: Management sees balanced supply and demand dynamics for bananas and pineapples, anticipating that this stability will support both volumes and pricing across major markets through the remainder of the year. Currency movements and tariffs: The recent appreciation of the euro against the U.S. dollar may aid reported results if sustained, while management's guidance factors in known U.S. tariffs. However, they emphasized that forecasting remains challenging due to potential volatility in foreign exchange rates and the evolving tariff landscape. Strategic investments and storm recovery: Reinvestment in storm-impacted Honduran farms, supported by insurance, is expected to improve yields and operational resilience. Additional capital allocation toward automation and internal development projects aims to drive productivity and future earnings growth, though timing and returns from these efforts remain subject to execution and external conditions. In the coming quarters, the StockStory team will monitor (1) the pace of recovery and yield improvements in Honduran farms affected by Tropical Storm Sarah, (2) the impact of euro-to-dollar currency movements on reported results, and (3) progress toward a strategic outcome for the fresh vegetables division. Execution on internal automation and development projects will also be important markers for Dole's ability to deliver on its updated guidance. Dole currently trades at a forward P/E ratio of 10.2×. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
GMA Network
03-06-2025
- Business
- GMA Network
DOLE issues pay guidelines for June 2025 holidays
The Department of Labor and Employment (DOLE) has issued pay guidelines for workers who will report for duty for Eid'l Adha and Independence Day. According to Labor Advisory 8 s. 2025, the following payment pay rules shall apply for June 6 (Eid'l Adha) and June 12 (Independence Day), which are considered regular holidays: lf the employee does not work, the employer shall pay 100% of the employee's wage for that day, provided that the employee reports to work or is on leave of absence with pay on the day immediately preceding the regular holiday. Where the day immediately preceding the regular holiday is a non-working day in the establishment or the scheduled rest day of the employee, he or she shall be entitled to holiday pay if the employee reports to work or is on leave of absence with pay on the day immediately preceding the non-working day or rest day (Basic wage x 100%) For work done during the regular holiday, the employer shall pay a total of 200% of the employee's wage for that day for the first eight hours (Basic wage x 200%) For work done in excess of eight hours, the employer shall pay the employee an additional 30% of the hourly rate on said day (Hourly rate of the basic wage x 200% x 130% x number of hours worked) For work done during a regular holiday that also falls on the employee's rest day, the employer shall pay the employee an additional 30% of the basic wage of 200% (Basic wage x 200% x 130%) For work done in excess of eight hours during a regular holiday that also falls on the employee's rest day, the employer shall pay the employee an additional 30% of the hourly rate on said day (Hourly rate of the basic wage x 200% x 130% x 130% x number of hours worked). In May, Malacañang issued Proclamation 911, declaring June 6, 2025, Friday, a regular holiday throughout the country in observance of Eid'l Adha or the Feast of Sacrifice. Eid'l Adha is one of the two important holidays in the Muslim calendar, the other being Eid'l Fitr, which marks the end of the holy fasting month of Ramadan. During Eid'l Adha, Muslims slaughter sheep, goats, cows, and camels to commemorate Prophet Ibrahim's willingness to sacrifice his son on Allah's command. Meanwhile, Proclamation 727 included Independence Day as one of the regular holidays in the country. — VDV, GMA Integrated News
