Minister of Industry Donville Inniss has suggested that some companies that are laying off workers may be doing the “right” thing.
Over the past months a number of business owners have closed their operations. Others have either laid off workers or reduced work hours in an effort to stay afloat.
Speaking to journalists following a family business workshop at the Cave Hill School of Business last Wednesday, Inniss said: “Every enterprise will have its reasons for closing its doors.
“While we constantly talk in negative terms about closures, what is in truth happening is that in some instances companies are right-sizing. When economies were booming people were able to take on additional staff and do certain things. In a challenging environment people have a right to right-size,” he said.
“So some will be laying off, some will be merging, but in the midst of all of this we must be constantly looking for the opportunities,” added Inniss. (MM)
