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BANCO FILIPINO SAVINGS v. NLRC

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GR NO. 165757
2006-10-17
GALAXIE STEEL WORKERS UNION v. NLRC
CARPIO-MORALES, J.
Further, petitioners contend that the appellate court's upholding of the deletion by the NLRC of separation pay is contrary to the ruling in Banco Filipino Savings and Mortgage Bank v. National Labor Relations Commission[11] which held that separation pay is proper in cases where closure or cessation of business operations is due to serious business losses or financial reverses.