Financial crisis…

Nov 04, 2008 News

‘We have no intention of laying off employees – Clifford Reis

Chairman of Banks DIH Ltd, Clifford Reis, has said that his company has no intention of laying off any of its employees, despite the impact that the financial crisis is having on some countries.

Banks DIH Ltd and GWU sign the agreement in the presence of Assistant Chief Labour Officer Charles Ogle (centre).

As a matter of fact, the company has signed a three-year agreement with the General Workers Union (GWU), which will see workers getting a six and a half percent increase in their salaries, along with job security.
At the signing of the agreement, yesterday at the Ministry of Labour in Brickdam, the Banks DIH Chairman said that the signing is a historical one, taking into consideration the financial crisis facing the world.
Some companies are reducing employees’ salaries, while others are being laid off from work, he added.
In this regard, he said, his company has no intention of doing so, since it recognises the seniority of persons working at the company for a long time.
He also noted that, during the discussions leading up to the agreement, both the union and the company displayed maturity.
“The discussions were done on a mature basis. The reason for this is the way we approach the agreement. We first did a review of what the existing agreement had, and looked at some of the loopholes which existed and the way how it was managed over the last three years. We are now able to make corrective measures to the agreement,” Reis said.
He also urged for theagreement to be put into action. “An agreement is only signed between us. It is not for us to just put it on the shelf and leave it there. It is to work with it to develop better relationships between ourselves and employees, and to make sure that the company continues to perform, because employees are a great asset to many companies.” Meanwhile, president of the General Workers Union, Norris Witter, said that the negotiations were tedious as they tested the tolerance of both parties.
“We are more than pleased over the fact that, with the conclusion of this agreement, the security of tenure of all the employees is guaranteed.”
The agreement was signed in the presence of Assistant Chief Labour Officer Charles Ogle, who noted that Banks DIH Ltd has an open door policy, and that the company will be open to continuous negotiations.