Sep 2016 Financial News

More job losses at Arawak

Sep 08, 2016

AFTER CUTTING 40 workers just ten months ago, the struggling Arawak Cement Plant in St Lucy has put remaining staff on notice that more job losses are coming.

The plant, which is owned by Trinidad Cement Limited (TCL), revealed yesterday that voluntary separation packages would form part of another restructuring exercise for the company that employs about 150 people.

“The company is continuing this initiative now because the first phase of the restructuring has not yielded the results that are necessary to attain profitability and competitiveness.

“This is due to the unfavourable economic conditions globally and in the region, that regrettably make it necessary to further reduce costs in all areas of our operations,” said a statement from the company yesterday. (GE)

Source:
GERALYN EDWARD
geralynedward@nationnews.com
Nation News
Thursday September 8, 2016

http://www.nationnews.com/nationnews/news/85277/job-losses-arawak