The Bahamas Telecommunications Company’s (BTC) voluntary separation of employment packages (VSEPs) are expected to be completed by early September, BTC CEO Garfield “Garry” Sinclair said yesterday.
“We’re going to give them all the time they need, but we hope to have it wrapped up by the end of this month or early September for sure,” Sinclair said.
He added, “We’ve put a package of entitlements on the table and colleagues are going to be able to decide whether they find that package attractive or not, or whether they believe now is the time to move onto doing something else with their lives.
“We’re going to give them pretty much all the time they need to make an informed decision. This is a momentous decision for a lot of colleagues. Many of them have worked…to BTC all their lives, so it’s a tough decision.”
Sinclair said employees will find the company’s offer “compelling”.
However, he declined to say how many employees are expected to accept the packages.
“Obviously for planning purposes you have to assume a number in order to sort of effectively plan and then analyze any variances that occur,” Sinclair said.
“So yeah, we have some planning numbers in place but the idea is this is a voluntary exercise, once people decide…we’re going to be left with a business that we have to configure now to compete effectively in the 21st century.”
Bahamas Communications Public Officers Union (BCPOU) President Dino Rolle said yesterday that some of his members have expressed concern with the financial aspect of BTC’s separation offer.
“The monetary aspect …could’ve been much more improved,” Rolle said.
“To that end, it may be in their best interest to continue on their jobs. That’s the kind of decision that members are left to make. They have to base it based on their own personal financial position and how they see themselves moving forward with or without it.”
Sinclair said BTC hopes to execute its VSEPS “with sensitivity” in order to ensure that its employees are “aware of all of their options”.