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Waiver on existing benefits (Company under GOCC)

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Arresto Menor

Good morning!

I need your legal opinion and advise on the following issue:

- The corporation from where we are employed is under BCDA, we are a subsidiary, the rank-and-file had an existing CBA that existed for almost 20 years now, as well as for the supervisory union. With the creation of a GCG and with COA observation can the company just not honor our Life Insurance, Retirement Pay Package, and now we have to sign a waiver in order to avail or our existing in-house health/medical benefit. The corporation and GCG claims that we need a President's approval on these, wherein COA observation states that only "New" or "Additional" benefits are disallowed.

Can they actually do this without breaking any labor law or something?

Thank you in advance.

Concerned Employee

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