Categorized | National News

VSEPS on the way for GB resort line staff

The process for those voluntary separation  packages (VSEPs) for line staff employees of The Grand Lucayan Resort is complete and now it’s time to move on to management, Tourism Minister Dionisio D’Aguilar, confirmed.

“Preparing the final payments, going over the final numbers,” he said.

“The union is well aware of what we’re doing, I don’t think there’s any disagreement on the process now, it’sin motion.

If not today, Monday, but there’s no arguing, it’s just the mechanics of the distribution that are now underway, he added.

Bahamas Hotel Managerial Association President, Obie Ferguson, has pegged the total payout to Grand Lucayan Managers at just over $5million.

The VSEPs are part of the resort’s overall plan to cut costs before being picked up by a new buyer. 

In a last ditch effort, the government last summer purchased the property for $65 million.

A $10 million deposit was made, that was followed up with a resolution in parliament for $35 million. 

“We’re in the negotiating process there’s nothing concretized, there’s nothing for me to give you an indication of who it is and what’s happening,”  said the Minister.

“A number of potential purchasers have expressed interest, but you know until you seal that deal, I’m not going to say anything about it, ’til the pen is on the paper, he said.

The government is hoping to sell the property as soon as possible.


Written by Jones Bahamas

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