SM Investments Corp: We don't practice contractualization

MANILA, Philippines – The president of SM Investments Corporation (SMIC), one of the largest employers in the Philippines, said on Wednesday, April 27, that his company does not practice contractualization.

"SM doesn't do contractualization. We do hiring for seasons like during the second quarter for school opening," SMIC president and director Harley Sy replied on the sidelines of an annual stockholders' meeting at Conrad Manila in Pasay City.

As of end-2015, SMIC has 65,436 employees. Of this figure, Sy said "less than 1%" are seasonal.

His statement comes after the 3rd presidential debate in Pangasinan last Sunday, April 24, where all 5 candidates vowed to stop labor contractualization.