THE Confederation of Wearable Exporters of the Philippines said 8 to 10 percent of its 270,000 workers covering wearables could be affected if the “current trend” lasts longer or global demand conditions worsen.
“What happened to our Mactan, Cebu-based member should not be singled out at this moment. This will be a trend to some factories whose customers are starting to cut down on their projections, so we expect temporary closures or partial retrenchment of workforce in the next few months,” CONWEP said in a statement on Wednesday.
The wearables export sector said the uncertainty of the war in East Central Europe, rising fuel cost, the disrupted supply chain, and fear of another pandemic “directly” impacts on consumer behavior across the globe. The wearables export sector reported that the Department of Trade and Industry headed by Secretary Alfredo E. Pascual organized the CEO Roundtable Meeting on Global Brands during the recent working visit of President Ferdinand R. Marcos Jr. to the US.