THE ST LUCY-BASED Arawak Cement Company Ltd today informed employees that 40 of them will be made redundant effective October 23, under a comprehensive restructuring plan designed to save the operation from going under.
This was announced in a media release this evening.
General manager, Rupert Greene, explained that the company had been recording significant losses since 2008 while its cost of production was significantly higher than the other subsidiaries in the parent TCL Group.
He said the selection of employees for redundancy will be done in accordance with the Collective Agreements currently in force with the Barbados Workers’ Union (BWU) and the National Union of Public Workers (NUPW) and that all levels of employees were being affected. The company will be meeting with employee representatives shortly to consult on the restructuring programme.
Greene also gave the assurance that although Arawak was currently financially challenged, it would endeavour to provide all the entitlements due to those being affected, in accordance with the Laws of Barbados. The company would also provide counselling and support services to assist them in making the transition.
The high cost of energy and labour were identified as the two largest components affecting the company, whose viability was at risk unless the current mode of operation was significantly transformed.
Greene added that the restructuring programme demanded implementation of efficiencies in operational processes for the production of cement and the containment of costs.
The statement said the move is aimed to achieve a reversal in the level of losses, improved operational efficiencies, repositioning for competitiveness in the domestic market and reclaiming market share in export markets. (PR)
