G.R. NO. 158045 - PHILIPPINE COMMERCIAL INTERNATIONAL BANK, VS. ANASTACIO D. ABAD.DECISION - Supreme Court E-Library

Ruling

WHEREFORE , premises considered, the assailed Decision of respondent Commission in NLRC Case No. V-000848-99 is hereby AFFIRMED with modification , that is, in addition to the financial award granted by the NLRC, [petitioner] Bank is further ordered to give [respondent] a separation pay equivalent to one half (1/2) months pay for every year of service. x x x. [4] The assailed Resolution denied petitioners Motion for Reconsideration. The Facts The facts are narrated by the CA as follows: x x x Anastacio D. Abad was the senior Assistant Manager (Sales Head) of [petitioner Philippine Commercial International Bank (PCI Bank now Equitable PCI Bank)], Tacloban City Branch when he was dismissed from his work on 03 August 1998. He started working with said [petitioner] Bank since 03 December 1973, rose from the ranks and was receiving a monthly salary of P36,358.52 at the time of his termination. On 13 March 1998, [Abad] received a Memorandum from [petitioner] Bank concerning the irregular clearing of PNB-Naval Check of Sixtu Chu, the Banks valued client. On 18 March 1998, [Abad] submitted his Answer, categorically denying that he instructed his subordinates to validate the out-of-town checks of Sixtu Chu presented for [deposit or encashment] as local clearing checks. During the actual investigation conducted by [petitioner] Bank, several transactions violative of the Banks Policies and Rules and Regulations were [uncovered] by the Fact-Finding Committee. Said transactions placed the Bank at risk in the amount of P23,044,527.88 and were consummated in the span of only one (1) month from 02 February 1998 to 02 March 1998. Consequently, Mr. Lorenzo A. Cervantes, the Fact-Finding Officer of [petitioner] Bank, issued, on 01 April 1998, another Memorandum to [Abad] asking the latter to explain the newly discovered irregularities. Not satisfied with the explanations of [Abad] in his 11 April 1998 Reply , [petitioner] Bank served another Memorandum , attaching thereto the 01 July 1998 Decision of the Fact-Finding Committee, terminating his employment effective immediately upon receipt of the same. On 07 September 1998, x x x Abad instituted a Complaint for Illegal Dismissal With Non-Payment of Overtime Pay, Premium Pay for Holiday and Rest Day, Separation Pay, Retirement Benefits, Damages and Attorneys Fees . On 30 August 1999, after the contending parties[] submission of their respective Position Papers , Labor Arbiter Guimoc promulgated his Decision in favor of [petitioner] and against [Abad], to wit: WHEREFORE, premises considered, judgment is hereby rendered declaring the dismissal of complainant [Abad] to be legal. [Petitioner Bank] is, however, directed to indemnify [Abad] in the amount of P10,000.00 for its failure to fully comply with the requirements of due process. x x x x x x x x x SO ORDERED.