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G.J.T. REBUILDERS MACHINE SHOP, GODOFREDO TRILLANA, AND JULIANA TRILLANA, PETITIONERS, VS. RICARDO AMBOS, BENJAMIN PUTIAN, AND RUSSELL AMBOS, RESPONDENTS.

G.J.T. REBUILDERS MACHINE SHOP, GODOFREDO TRILLANA, AND JULIANA TRILLANA, PETITIONERS, VS. RICARDO AMBOS, BENJAMIN PUTIAN, AND RUSSELL AMBOS, RESPONDENTS.

G.R. No. 174184 | 2015-01-28

SECOND DIVISION
 
D E C I S I O N
 
LEONEN, J.:
 
To prove serious business losses, employers must present in evidence financial statements showing the net losses suffered by the business within a sufficient period of time.  Generally, it cannot be based on a single financial statement showing losses.  Absent this proof, employers closing their businesses must pay the dismissed employees separation pay equivalent to one-month pay or to at least one-half-month pay for every year of service, whichever is higher.
 
This is a Petition for Review on Certiorari[1] of the Court of Appeals’ Decision,[2] granting Ricardo...