TIMES ARE ROCK HARD FOR ARAWAK, NOW CONTINUING THEIR VOLUNTARY SEPARATION
The Arawak Cement Company Ltd (ACCL), just informed employees of its intention to offer Voluntary Separation packages as part of a financial and operational restructuring programme started in October 2015.
With significant excess cement capacity in the region and highly competitive price sensitive markets, cost reduction is vital for Arawak to return to profitability and improve competitiveness in this market and grow export in the region.
All severance 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). The company will also be meeting with the two unions shortly to discuss the terms of the separation.
Mr. Toro said Trinidad Cement Limited’s (TCL) Bds $20 Mil. investment in Arawak, demonstrated the company’s commitment to the long – term development of the Barbados operation.
He cited the cost of energy and labour, which are significantly higher than regional competitors, combined with a slowdown of the construction sector worldwide and in the region, were two of the key factors that have challenged the business in Barbados
Should ACCL not meet the required levels of separation through the voluntary process, the company will continue discussions with the union, with respect to the conditions under which additional people will be separated in order to meet the required target in specific areas of the operation.
The General Manager has given the assurance that Arawak will provide all the entitlements due to those affected, in accordance with the Laws of Barbados. The company will also be offering counselling and other support services, to assist all staff members in making the transition.