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NSC's ultimate effort to minimize actual serious losses and prevent imminent financial reverses, management will temporarily suspend operation on November 07, 1999. Last October 18, a number of employees went on forced leave, called "company scheduled leave"
A number have opted for early retirement, but no batchmate qualified.
During the temporary suspension, a skeletal force for facilities preservation, safety/security and the necessary support groups will be on rotation basis for about three times a month per employee.
VL Credits have to be exhausted until November 07, while after that date, once the leave credits are exhausted, the "No Work, No Pay" will be enforced but all employees will continue to receive their normal allowance and other employee benefits.
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Mandatory salary deductions shall be suspended, but individual employees have to undertake measues to settle personal obligations.
NSC is expected to resume operations on or before six months from November 07. The Management enjoined everyone to support the company during this transitory period and requested for sobriety and understanding during these difficult times.
The employees, with families and friends, have staged a peaceful rally last week to ask government support to bail out NSC from the present situation. But Erap is not budging.
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