Restructuring of the Caribbean Broadcasting Corporation (CBC) was the only option to make it a viable entity.
This was outlined by Industrial Relations Consultant John Williams to the corporation as he responded to criticisms from staff, levelled at the CBC.
Some staff members are dissatisfied that they will not be receiving in cash all outstanding payments due to them as redundancy payments.
Williams, however, said the position of the corporation was explained to the Barbados Workers’ Union (BWU) during recent discussions regarding those CBC staff being made redundant following “the restructuring of the corporation to make it a viable entity”.
He pointed out that the Union accepted that this was the only possible solution because the Corporation has accumulated debt of over $115 million, and while it would wish to pay all outstanding monies in cash, it is simply unable do so because of its cash strapped position.
“CBC over the past year has been experiencing challenges in meeting monthly payroll and is currently not in a position to settle outstanding retroactive payments in cash.
“As part of the Barbados Economic Recovery and Transformation (BERT) programme, the corporation’s accumulated debts, including retroactive employee costs are being funded through a bond issue.
“Under this arrangement employees will receive all retroactive payments in cash commencing April 30, 2019 paid over a 42-month period of equal payments.”
The Industrial Relations consultant said severance will be paid from the Severance Payment Fund which will be in cash.
“CBC’s management has been in discussion with the NIS department to ensure that all information and processing of the severance payments forms are completed in a timely manner to enable payments to be made, if possible, at latest by the end of December 2018.
“This is in keeping with the commitment given by Prime Minister Mia Mottley that everything will be done to ensure that persons who are made redundant receive their severance payments in the shortest possible time,” Williams added.
It was also explained to the Union that rather than close the Corporation, the Government charged the board of the CBC to restructure and make it fit for purpose.
As a result 104 people will be exiting the corporation by Thursday, while another seven will be retiring in a few months. (ES/PR)