Massive layoffs coming, says Arthur

27-09-15XSBAXawardsX-Arthur-XPhotoX4
Former Prime Minister Owen Arthur has warned of forthcoming job cuts

Caribbean Dreams became the Small Business Association’s (SBA) Entrepreneur of the year 2015, and the SBA’s own Lynette Holder won the President’s Trophy, last night, but former prime minister Owen Arthur forecasted coming joblessness on the island.

Arthur made the prediction while delivering the feature address at the Radisson Aquatica Resort, as the SBA ended a week of celebrations of small businesses across the island with an award ceremony.

Arthur, a leading Caribbean economist and advisor, in making reference to the most recent International Monetary Fund report on Barbados that called for a radical reduction in government spending, urged the Freundel Stuart administration to seek a national consensus before acting.

“In all of this, the only prospect that seems certain is that a fairly substantial number of persons now employed by state enterprises stand to lose their jobs,” he said.

The former prime minister, who led Barbados for an unprecedented three consecutive terms said that the recessionary and other economic pressures hitting the island was unlike any before.

27-09-15XSBAXawardsX-Medford-Niles-XPhotoX1
SBA President Dalton Medford (left) presenting the Entrepreneur of the Year Award to Caribbean Dreams’ Nicole Niles.

In this regard, he said that job cuts for public servants this time around will not see them regaining those positions later.

“There is no prospect of their re-employment in the public sector for the foreseeable future, in light of the parameters of the fiscal consolidation programme which has to be fully executed,” Arthur contended.

And while he gave no dates for this mass retrenchment, he said of the state agencies which will be sending home Barbadians, “some will be amalgamated and some will be privatized.”

“Some may even be abolished altogether. Some will be downsized and have their structures rationalized. It will be a huge undertaking that will affect the course of Barbados’ development in a very profound way,” Arthur maintained.

19 Responses to Massive layoffs coming, says Arthur

  1. Bajan boy September 27, 2015 at 5:18 pm

    Owen will you please tell the Owen faction and Maria Agard in particular that you have passed your used by date and is now not even history…you must be smiling at her arrogance and ignorance as you strive to achieve your agenda and she works so hard to execute it….

    Reply
  2. Wendy Sthill
    Wendy Sthill September 27, 2015 at 5:22 pm

    Not good for Bim

    Reply
  3. carson c cadogan September 27, 2015 at 6:29 pm

    “The former prime minister, who led Barbados for an unprecedented three consecutive terms…..”

    I think you need to check your facts.

    Reply
  4. Francis McClean
    Francis McClean September 27, 2015 at 7:09 pm

    Having to do this all at once will be a second devastating blow.

    Reply
  5. Olutoye Walrond September 27, 2015 at 9:26 pm

    the word “forecast” follows the general rule for “cast” words in having no ‘ED’ in its past tense form.

    Reply
  6. Beverley Greaves
    Beverley Greaves September 27, 2015 at 9:39 pm

    This is very sad news for all Barbadians. May God help us-the unemployment is one thing, but the thought of escalated crime is more scary. I expect that this bitter pill will be announced within the next 2 months.

    Reply
  7. lswiltshire September 27, 2015 at 9:44 pm

    WHETHER ARTHUR WAS PM FOR unprecedented three consecutive terms…..” OR NOT………..HOW DOES THIS AFFECT THE FACTS OR TENETS OF ARTHUR’S PREDICTIONS?

    IS BIRD BRAIN AN ECONOMIST TOO?
    ONLY A FEW DAYS AGO HE WAS A MICROBIOLOGIST AND PUBLIC HEALTH EXPERT…………..HILARITER!

    Reply
  8. Janette Reifer
    Janette Reifer September 27, 2015 at 11:26 pm

    Would any of these politicians be held accountable for their stewarship for the state of the economy ? If there is so much wrong doing as people are claiming,, then some person or persons should have to answer, through a commission of inquiry or whatever.

    Reply
  9. Lloyd Lewis
    Lloyd Lewis September 27, 2015 at 11:46 pm

    I am dreaming of a black xmas thanks to the sleeping giant and company.

    Reply
  10. Veroniva Boyce
    Veroniva Boyce September 28, 2015 at 3:28 am

    ‘Massive layoffs coming’ start with the Cartoon Characters Network. (government)

    Reply
  11. jrsmith September 28, 2015 at 8:14 am

    As, I always say, The management of Barbados LTD,has been
    put together as liking to build a house, but they are all painters, no one can read the drawings, so no real start can be made. but then bajans have they own agenda , praying and waiting on god.

    Our real problem , government past and present which fails Barbados, that never ending cycle ,stop , go , stop go, economies all about history no real planning for the future, we need to do for ourselves.
    Barbados for bajans, we want our island back, we must get our fingers out , put Barbados right, others as foreigners will always reap the benefit in Barbados , because everything is there for the taking.

    Reply

    Reply
  12. sunshinecanada September 28, 2015 at 11:57 am

    I had a dream, Thank you, Mr Owen,

    Reply
  13. sam clarke September 28, 2015 at 12:38 pm

    Well stated Mr. Oltuoye Waldron.

    Reply
  14. Buddy Love
    Buddy Love September 28, 2015 at 1:33 pm

    Look people, you cannot have economic recovery in Barbados without Environmental recovery. This means that for Barbados to recover the focus first needs to be on the things that made Barbados a wealthy Island, such as sugar cane, tourism, and agriculture. Without these you have nuttin as me ole gran used to say.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *