Arawak Cement to reduce workforce

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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.

Last modified on 21 October 2016

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