ARAWAK CEMENT COMPANY Limited began implementation of its comprehensive restructuring plan today.
This has been confirmed by general manager Rupert Greene, who explained that so far, ten employees have been made redundant, nine of them being members of the National Union of Public Workers (NUPW).
Greene also confirmed that the other positions have been identified and the exercise is being undertaken in accordance with collective agreements in force with the two unions operating at Arawak. The company expects to conclude consultations with the Barbados Workers’ Union (BWU) during the course of the coming week.
Greene added that in spite of the serious financial challenges that had forced Arawak to opt for restructuring, the company had committed to provide all the entitlements due to the redundant employees in accordance with the Laws of Barbados. The company is also providing counselling and support services to assist them in making the transition.
The high cost of energy and labour have been identified as the two largest contributors to the present depressed financial state of the company, whose viability is at risk without a significant transformation of its current mode of operation.
The restructuring programme involves the implementation of efficiencies in operational processes for the production of cement and the containment of costs. It aims 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)