We, the workers of Triumph International Philippines under the leadership of Bagong Pagkakaisa ng mga Manggagawa sa Triumph International - Independent or New Unity of Workers in Triumph International and Defend Job Philippines, strongly denounce and resist the injustice that was deliberately and spitefully committed to us by Triumph International Philippines.

We deem that the closure of Triumph International Philippines (June 27, 2009) which resulted to the lay-off of more than 1663 workers is uncalled, unjust and inhumane.  The management’s reason for closing the company in the Philippines is unfounded and unacceptable:  that the management had to implement a global restructuring program to keep its business healthy amidst global recession and downturn of demand.

Leaders from 20 major economies gathered in Toronto last June 26-27, 2010 in the first Summit of the G20 in its new self-designated role as “the premier forum for international economic cooperation.” Its mandate is no less than licking the gravest economic crisis the world has seen since the 1930s, and ensuring “strong, sustainable and balanced global growth.”

But just what was “accomplished” by the recently concluded G20 Summit in Toronto?

The recent global economic crisis has been unprecedented since the great depression of 1929-32. The low-income countries have been affected by the crisis severely, particularly because of their low capacity to take external shocks. The commodity boom of 2003-08 allowed increases in national savings, investment and the acceleration of GDP and market value added (MVA) of low-income countries. Nevertheless, it was followed by a “bust” with detrimental impact on their long-term industrialization and development. Food and fuel importing countries, in particular, suffered from both the “boom” and the “bust”; the emergence of the financial crisis took place at the time they were facing high international prices of food and petroleum. In other words, they faced three ‘F’(food, fuel, financial)  crises.

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A Sign-on Statement initiated by RESIST!
(International People's Campaign to Confront Crisis and War)
May 31, 2009