Commonwealth Brewery, the country’s  largest  beverage company,  has laid off 73 employees. It is also is in the process of restructuring its retail division.

A statement from the company yesterday  confirmed that the  73 workers will be made redundant due to increased operational costs, as well as increased competition from imported beer brands.

Director of  Retail, Ron Hepburn said this was the first major exercise of this nature since the company went public, adding that “though the restructuring exercise will be a visible and impactful change, it is not unusual in the course of normal business operations. 

He said, “I  just want to make sure that everyone is clear the we never take decisions like this lightly. We ensured that there were grief counselors on site, we had a pastor on site;  we have NIB there to explain everyone’s benefits inclusive of our Human Resources Department.

“So, our staff were well informed and they received the necessary counseling for those that required it.”, he added.  

Mr. Hepburn also said that this is by no means a negative indication of the health of the company, rather, a sign of CBL’s commitment to continue and thrive in this dynamic business environment. 

The restructuring exercise affected 53 employees in  New Providence and 20 from Grand Bahama. 

Affected employees received four weeks’ pay  for every year employed for up to 48 weeks. 

They were also paid their accrued vacation, and offered one-month free health insurance; which, Mr. Hepburn added, is unheard of under these circumstances.