Gunn is blazing again ? C&W may chop workforce by 50% yet seek Millions for Unlimited Bonus

Anthony Gunn is a resourceful dude, he has contributed on the travesty that was CWC: Clearly Wasted Cricket, done some yachting and now back at his fave rant…. Telecommunications! But it seems there is a serious point to his diatribe –

Is C&W planning to cut jobs by 1/2 while paying out over EC $110 million EACH in bonuses to top executives for doing that?

Cutting jobs by 1/2 in the Caribbean too, where they make all their profits?

Chairman Richard Lapthorne also wants a new incentive package that would grant him 5.5million extra shares ? worth about ?11million.

Managing directors Harris Jones and John Pluthero stand to gain unlimited bonuses if the new plans are accepted.

Communication Workers’ Union deputy general secretary Jeannie Drake condemned the proposals.

She said: ‘Is there no limit to Mr Lapthorne’s cheek and to shareholders’ gullibility?

The morale of the workforce must be in freefall.

The row comes after a programme of staff cuts which has already claimed hundreds of jobs.

And more are on the way ? analysts expect up to 50 per cent of workers could go in the next three years.

This item does not end here, we want to get a Caribbean perspective on this accusation – soon we hope answers will forthcoming!

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.


add a comment

Some HTML is OK

or, reply to this post via trackback.