The Philippine Chamber of Commerce and Industry said businesses are studying the possibility of a four-day work week as companies cope with rising fuel and operating costs linked to the Middle East crisis.
PCCI Chairman Emeritus George Barcelon said the impact of higher oil prices on businesses could be severe, with crude prices reaching around $120 per barrel amid supply concerns in the Strait of Hormuz.
He noted that rising fuel costs are already affecting economic activity, including reduced mobility in Metro Manila due to higher transportation expenses.
Barcelon warned that increasing logistics costs could be passed on to consumers, potentially affecting both households and businesses.
He said companies are exploring flexible work arrangements similar to those implemented during the COVID-19 pandemic, including the possibility of a four-day work week.
The proposal is part of ongoing discussions between the government and the private sector on mitigating the effects of global oil volatility.
Barcelon also urged the administration to implement short-term measures to ease the impact of the crisis, noting that prolonged instability could affect overseas Filipino workers and remittance flows.
He added that the weakening peso, driven by rising import costs for fuel and other goods, could further complicate the economic outlook.
