Barbados: Arawak Cement has formally offered its staff voluntary separation packages as part of its financial and operational restructuring programme that started in October 2015. In September 2016 the company said that it would offer voluntary separation packages because the first phase of the restructuring had not yielded the results necessary to attain profitability and competitiveness, according to the Barbados Today newspaper. It blamed this on ‘unfavourable’ economic conditions, significant excess cement capacity in the region and highly competitive price sensitive markets. It also cited energy and labour costs as a factor in its decision.
Arawak Cement to reduce workforce
Written by Global Cement staff
Published in
Global Cement News
Tagged under
Register for the Global Cement Weekly email newsletter
Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.
URL: https://globalcement.com/news/item/5412-arawak-cement-to-reduce-workforce
© 2024 Pro Global Media Ltd. All rights reserved.