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[G.R. No. 119157.June 14, 1999]

GOLDEN THREAD, et al. vs. NLRC, et al.

SECOND DIVISION

Gentlemen:

Quoted hereunder, for your information, is a resolution of this Court dated JUN 14 1999.

G.R. No. 119157 (Golden Thread Knitting Industries, Inc., et al. vs. NLRC, et al.)

Movants Golden Thread Knitting Industries, Inc., George Ng and Wilfredo Bico maintain in their motion for reconsideration that the six (6) subject employees, namely, George Macaspac, Mary Ann Macaspac, Romulo Albasin, Melchor Cachucha, Gilbert Rivera and Flora Balbino, were validly dismissed from employment and that reinstatement is no longer equitable since the company has been operating at a loss as evidenced by the Financial Statements of movant corporation as of 31 December 1997 with comparative figures of 1996. Movants further allege that from a workforce of 53 in 1992 their employees were reduced to 29 as reflected in their payroll for February 1999. Hence, they submit, they should only be held liable for separation pay.

Acting on the motion, the Court Resolves to require respondents to file their COMMENT thereon within ten (10) days from notice hereof, particularly on the allegation that reinstatement is no longer equitable.

On the validity of the dismissal of the six (6) subject employees, the Court maintains its position since movants are merely reiterating the arguments raised in their petition which have already been addressed in our Decision sought to be reconsidered.

SO ORDERED.

Very truly yours,

(Sgd.) TOMASITA B. MAGAY-DRIS

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