The Bahamas Telecommunications Company Ltd. (BTC) announced yesterday that after ratification on Wednesday by its membership, the Bahamas Communications and Public Officers Union (BCPOU) has agreed to a new Industrial Agreement.
As a result, the company is now in a position to release details of its business restructuring plan.
According to BTC CEO Leon Williams, “Telecommunications liberalization is here and the introduction of an additional mobile carrier is expected to impact BTC’s mobile market-share and substantially reduce annual revenues.”
“We must remain competitive, which translates into cost reductions across the board, including the difficult task of restructuring our workforce,” Williams said.
On Wednesday, BTC announced that the company has signed a new three-year Industrial Agreement with the Bahamas Communications and Public Managers Union (BCPMU).
In addition to offering Voluntary Separation Employee Packages in March, BTC is now also proposing outsourcing opportunities.
The BTC Outsource Model will be offered to individuals or groups of employees who can provide a proposal for identified services such as warehouse duties, bill printing and various above and underground field services such as tower and cable riggers.
“We are very excited that we have been able identify these opportunities,” said the CEO. “Ex-employees can become entrepreneurs, owning their business and BTC can reduce its operational costs. We feel that under the circumstance, it’s as beneficial to both parties as it can be.”
Employees identified in areas impacted by outsourcing will get a Fixed Term Contract for the period of their employment until a vendor for the designated outsource area is selected by BTC.
The packages agreed by both unions, for BTC line and managerial staff in areas of outsource, offer salary incentives and medical and training awards to assist staff with the transition.
Standard practice counseling services on all related matters, including financial planning, will also be made available by BTC to all affected employees, if needed.
