WE TOLD YOU SO – JOB CUTS AT STATE COMPANIES

THE Government has confirmed what we told you four months ago – that job cuts are coming in three State enterprises.

ExporTT, CreativeTT, and InvesTT would collectively displace more than 60 workers, the Government acknowledged last week before a parliamentary committee.

In an exclusive report last November, we revealed the impending job losses and that appropriate letters would be prepared for the affected workers.

The Government is “throwing scores of workers on the breadline,” we revealed.

The Ministry of Trade, to which the three companies report, said last week that the total employment would be reduced from 154 to around 90 to 100.

Informed sources have told us that more jobs may be lost and that no worker’s employment is assured with the amalgamation of the three companies.

The Government is unifying the functions of the three entities into a single organisation.

Each enterprise currently has a board of directors and executive management.

ExporTT is an export facilitation company, CreativeTT is involved in film, music and fashion, and the mandate of InvesTT is to assist prospective investors.

Finance Minister Colm Imbert previously said there was a duplication of duties.

The new company will be titled Trinidad and Tobago Trade and Investment Promotion Agency.

The Trade Ministry hired two companies, PWC and Odyssey Consulting, to assist with industrial relations and change management.

The displaced workers are represented by the Bank and Industrial Workers’ Union.

Opposition Senator Wade Mark last week claimed there was a “breakdown” and “financial inconsistencies” at ExporTT.

The job losses would add to the unemployment rate, which is considered to be understated by the Central Statistical Office.