Layoffs not a direct result of global financial crisis

Layoffs not a direct result of global financial crisis – Labour Minister

Mar 28, 2009 News

…situation will be resolved within 6-12 months

Responding to inquiries about the recent retrenchments in the manufacturing sector, Minister of Labour, Manzoor Nadir, has said that he does not detect any unusual layoffs as a direct result of the global financial crisis. According to him, what is being seen is critical as various industries deal with upturns and downturns. This newspaper understands that manufacturers in Guyana have begun cutting jobs, because of the drop in overseas demand for their products.
President of the Guyana Manufacturers and Services Association (GMSA), Ramesh Dookhoo, told Kaieteur News that the sectors particularly hit by the global economic slowdown are the garment manufacturing and value-added wood sectors. He said some 150 workers have already been laid off, and another 50 jobs are directly threatened.
Dookhoo explained that the drying up of export orders from Europe and North America is the main reason for the layoffs in these sectors, since a drop in demands leads to less production.
Minister Nadir has said that he knows one wood manufacturing entity has some problems with markets but that was even before the global crisis.
Minister Nadir also said that he does not agree with what is being dubbed as massive retrenchment by some trade unionists.
The Minister noted that the trade unions have singled out four entities to depict a big problem. “I expect that it will not be prolonged and it will all be resolved within six to twelve months.”
He pointed out that the bauxite industry is one that has always had layoffs and rehiring as its managers deal with supply and demand issues. Meanwhile, President of the Guyana Trade Unions Congress (GTUC), Gillian Burton, has said that from what she has seen, Guyana is heading for an industrial relations collapse.
Burton told this newspaper that if a manufacturing entity has problems to keep the money coming in, there would be spin-off effects on human resources.
According to her, these manufacturing entities will start to scale down not only as it relates to production, but manpower as well.
She added that whatever happens in some parts of the world will definitely trickle down to Guyana and it is bad of the government to say that all will be well with Guyana when that is not the case.

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Layoffs not a direct result of global financial crisis – Labour Minister

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