Eighty-one employees from Barama Company Limited were retrenched as the company looks to improve its profitability and sustain its future operations, General Manager Mohindra Chand told Stabroek News yesterday.
Chand said that the employees were let go on November 27 and paid their severance. He explained that after much consultation with the workers’ union a decision was made for the company to terminate the services of 100 workers. However, in the end, the company instead, decided to end the services of 81, Chand said.
He told this newspaper that the company has been finding it difficult to maintain a profit margin that would enable it to continue its operations. He noted that the local market, which is one of their largest, has been competitive with many alternatives and as such they have not been seeing the returns they would have projected.
