This case has been cited 1 times or more.
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2009-02-04 |
QUISUMBING, J. |
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| However, apart from petitioner's bare assertion of reduced orders from Japan, the only evidence it presented were the letters of voluntary acceptance of retrenchment, and waivers and quitclaims signed by respondents. To our mind, these were insufficient to show that petitioner indeed suffered business losses so serious as to necessitate the reduction of personnel. [21] We have constantly ruled that financial statements audited by independent external auditors constitute the normal method of proof of the profit and loss performance of a company. [22] Any less exacting standard of proof would render too easy the abuse of this ground for termination of services of employees. [23] Petitioner submitted none. Further, let it be clarified that our ruling in International Hardware, Inc. v. NLRC [24] did not dispense with the responsibility of the employer to substantiate losses. It merely exempts the latter from giving notice of retrenchment to its employees and DOLE. | |||||