More Retrenchment At TSTT (Update)

Описание: Retrenchment continues to happen at the Telecommunication Services of Trinidad and Tobago (TSTT).

TSTT says a rationalisation exercise was completed on Wednesday and will result in the company saving approximately $270 million annually.

Fifty-one non-unionised employees are being served retrenchment notices.

The Company added that through an out of court settlement, VSEP will be given to 77 employees who resigned in 2014.

They had been denied their request for separation as a result of an injunction lodged at the Industrial Court.

Citing that digital disruptions are affecting the operations and profitability of telecoms worldwide, TSTT's CEO, Dr. Ronald Walcott said, "Global companies are all in the throes of transforming their business models and TSTT is no different."