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Bilyonaryo - Business

Moonswatch o Omega painkiller na lang! ABS-CBN drops Seamaster watch for cash to reward long-time staff

  • July 15, 2022
  • Bilyonaryo.com

Loyal ABS-CBN staff looking forward to flashing a fancy Omega watch might be disappointed to learn they’d be getting cash instead.

A Babbler said ABS-CBN bosses have decided to forego the company’s annual tradition of giving a luxury watch to long serving staff as part of the media outfit’s continuing cost-cutting initiatives more than two years after losing its franchise.

The watch was supposed to be a token of recognition to employees who have spent at least 25 years of their lives in the service of the former media giant.

Babbler said management rewarded its staff with a cash gift which was supposed to be of equal value as the Omega reward but less the withholding tax.

“One recipient remarked that management should have stuck with the Omega watch because at least they would have enjoyed the full reward. But they all understand that the company is going through rough times,” said the Babbler.

Babbler suggested the recipients to use the cash gift to buy for themselves the Bioceramic Moonswatch, which is the low-priced Swatch version of the Omega Speedmaster, which retails at P14,000 (its sold out in all Swatch stores) and P50,0000 after market. Or if the heartache is just too much, they can buy Omega painkiller instead.

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