Scotia layoffs not yet final
Scotiabank, which last week announced plans to close 35 branches and cut 10 per cent of its Caribbean employees over the next two years, says no decision has been taken so far on the number of layoffs in Barbados.
The Canadian-based financial institution was responding to a statement made by the President of the Human Resource Management Association of Barbados Glenda Gilkes, who, in an interview with Barbados TODAY yesterday, commented directly on the Bank’s restructuring plans.
“I don’t have numbers at the top of my head now, but I know that for example, a group like Scotiabank with branches across Barbados, certainly we are concerned about that, because that could be 200 people, or more. And those things concern us because we don’t have the jobs out there that would really pull those people in,” the HRMAB president said in the recorded interview.
However, the Bank said the figure used was “purely speculative” and not based on any factual information.
Its statement also warned that unrealistic numbers could only cause unnecessary alarm.
“Where possible, the Bank will manage these impacts through attrition and job placement, and when necessary, through severance packages.
“We are simply looking to streamline our operations as we fully intend to remain the leading bank in Barbados.
At this stage, we do not have any details of the impact to Barbados and as we have more information, we will share details first with our employees and customers,” Scotiabank added.