The National Conciliation and Mediation Board effectively averted a strike at the Manila Bay Hosiery Mills, Inc. with the forging recently of a new CBA between the company and the Samahan ng Nagkakaisang Manggagawa ng Manila Bay Hosiery Mills, Inc. - ADLO-KMU.  This was reported by NCMB Exec. Director Rolando C. Olalia.

A new CBA between the two parties was formally concluded on 14 March 2002 that also ended their month old labor dispute anchored on ULP and bargaining deadlock.  The new agreement benefits close to 180 workers.

The dispute was the subject of a notice of strike filed by the union with the NCMB NCR ON 1 February 2002.

Under the agreement signed before Conciliator-Mediator Noli S. Diega, the management of Manila Bay Hosiery Mills commits to grant its employees a P12 wage increase spread over three years. Other items contained in the agreement include a management commitment to subsidize the union office rental in the amount of P1,500 monthly.  A signing bonus of P2,500 for each covered employee also form part of the settlement.

Total benefits and CBA packages computed as a result of this agreement that takes effect on April 1, 2002 amounted to P1.9 million.

As a final item of their agreement, the parties bound themselves to refrain from making retaliatory action as a result of the notice of strike.