Sco­tia jobs hang­ing in the bal­ance

Daily Nation (Barbados) - - News - The ma­jor­ity

There is uncer­tainty sur­round­ing the fu­ture of some work­ers at Sco­tia­bank Bar­ba­dos as the bank awaits reg­u­la­tory ap­proval for the sale of its in­sur­ance op­er­a­tions in Ja­maica and Trinidad & Tobago to Sagi­cor Fi­nan­cial Cor­po­ra­tion, and its bank­ing op­er­a­tions in the East­ern Caribbean and Guyana to Re­pub­lic Fi­nan­cial Hold­ings.

Sco­tia­bank Bar­ba­dos’ manag­ing direc­tor, David Parks con­firmed that he met with the lo­cal staff yes­ter­day at The Court­yard Mar­riott Ho­tel and shared in­for­ma­tion on the sale process and its im­pli­ca­tions. Parks said that all the em­ploy­ees in those af­fected coun­tries will be join­ing Re­pub­lic Bank.

The man­ager added that he as­sured em­ploy­ees based in Bar­ba­dos, who sup­port re­gional op­er­a­tions, that man­age­ment “would be trans­par­ent with in­for­ma­tion as it be­came avail­able.” Parks said he could not say just how many of the 100 mem­bers of staff at the Manag­ing Direc­tor’s Of­fice would be af­fected nor could he spec­ify the tim­ing.

He said that over­all Sco­tia­bank has be­tween 650 and 700 em­ploy­ees in Bar­ba­dos and the East­ern Caribbean.

How­ever, a Sco­tia­bank em­ployee who wished to re­main anony­mous said man­age­ment in­di­cated at yes­ter­day’s meet­ing, that once the deal goes through they could see the ma­jor­ity of staff let go within the first four to six months of next year; with only a few kept on to ser­vice Bar­ba­dos’ op­er­a­tions.

Parks said he promised staff that he would meet reg­u­larly with them, at which time he would be able to share more in­for­ma­tion. The next meet­ing be­tween Sco­tia­bank Bar­ba­dos man­age­ment and staff is slated for Jan­uary 2019.

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