BPL VSEP oversubscribed

BPL VSEP oversubscribed
Bahamas Power and Light Headquarters on Baillou Hill Road.

The voluntary separation packages (VSEP) offered by Bahamas Power and Light (BPL) have been oversubscribed, according to officials.

the company announced some weeks ago that it was looking to release at least 200 employees, however, Eyewitness News understand that over 300 employees have applied for the package.

Officials said the VSEP is a part of BPL’s plan to right-size the company and bring its finances out of the red.

The packages also come as the company prepares to construct a multi-million dollar liquified natural gas (LNG) power plant at Clifton Pier.

It is unclear up to this point which departments have been affected, however, in an earlier interview on IL TV show Beyond the Headlines with Clint Watson, President of the Bahamas Electrical Workers Union (BEWU) Paul Maynard while expressing his support for the program said, the company could not afford to lose technical staff considering BPL’s existing technical operation.

“You really can’t afford to lose them, especially with hurricane season coming on … but listen, they [are going to] have to work it out. It is what it is,” Maynard told the host.

Asked if he supported the VSEP, he said, “Yes I signed it … The members asked me to make a position for them, I did it, and this is a result of that position. The point is, they now need to make up their mind because it comes out tomorrow, they need to make up their mind on what they’re going to do and how they’re going to do it.

“Now, [BPL], they can refuse. But I’ll put a clause in there that gives the membership … if a member is refused to go, when he does go he gets his package, he’s not disadvantaged. It’s a good situation because we got outsource situations for staff when they leave.”

1 comments

I feel the separation package, if granted to some 300 employees of BPL, will be an exercise like that of BTC some years ago. Persons with expertise (wealth of knowledge) who understood the system received the package. The Corporation seemingly had difficulty in the efficient running of the company and had to turn around and re-hire these very same persons as they represented the “brains” of the company.

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