Wednesday, Jun 26, 2019
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More layoffs at GIBC Digital

GIBC Digital has let go another seven people, sources close to the company told Guardian Business yesterday, making this the second round of layoffs in a little more than a month.

In February, Guardian Business reported that GIBC, which built up its business on Grand Bahama last year, released half of its staff.

That month, Minister of Labour Dion Foulkes, who said he should be kept apprised of any layoffs in The Bahamas by employers, said he knew nothing of the layoffs. Calls to Foulkes and Acting Director of Labour John Pinder went unanswered yesterday.

GIBC Digital said in a press release in February that media reports of it having laid off several people, “took the company by surprise”, though it did not refute the claim, only noting that it parted ways with some senior employees.

In the press release, GIBC Chief Executive Officer Greg Wood said that business had been “slower than expected” for the company, but he restated the company’s commitment to Grand Bahama and promised there is “no cause for concern”.

“Business has been slower than expected, and we have had to make adjustments,” said Wood.

While not stating that layoffs occurred, Woods explained in the statement that the company had to part ways with senior workers whose values didn’t align with the company’s values.

“We have replaced them with an all-Bahamian leadership team and are now on track to meet our targets for 2019,” he noted.

In July last year GIBC became one of the first companies to benefit from the Commercial Enterprises Act, and right out of the gate began to hire and train 25 Bahamians, with the commitment to train and hire another 25 in specialized services, including automation, data intelligence, customer experience, regulation and compliance. The company officially launched its Nassau office in October, giving the government kudos for its vision to develop the technology sector of the country through the Commercial Enterprises Act.

Chester Robards

Senior Business Reporter at The Nassau Guardian
Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian.
Education: Florida International University, BS in Journalism
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