Grand Lucayan managers reject VSEP offer

Grand Lucayan managers reject VSEP offer

NASSAU, BAHAMAS – Managers of the now state-owned Grand Lucayan Resort have rejected the voluntary separation packages (VSEP) offer from Lucayan Renewal Holding, the special purpose vehicle created to represent the government in the sale of the property.

The matter was heard before the Industrial Tribunal in Grand Bahama on Monday, and according to Trade Union Congress (TUC) President Obie Ferguson, who represents The Bahamas Hotel and Managerial Association, members voted unanimously against the offer.

And while Ferguson would not disclose the amount, Ferguson said that what was offered was “ridiculous and insulting.”

“The workers are not asking for anything different,” Ferguson said. “We want what was offered to employees facing similar situations like BTC, The Wyndam  Hotel  and the like.”

Ferguson said the Tribunal has requested that government provide the information on how the initial offering to employees was calculated.

“We want to move forward,” Ferguson said. “We want to determine how they arrived at this figure because as it stands there is no formula for us to go by.”

Ferguson added that the value of the VSEPs for the 90 managers at the resort was approximately $4.2 million, but the resort’s board had refused to budge over $3.2 million.

Line staff at the resort have already begun to receive payouts and all 164 line-staff workers who applied for VSEPs were approved.

Eyewitness News understands that casual workers were also included in the VSEP offers despite the fact that these workers were not permanent.

According to the government’s fiscal performance report for the first six months of 2018/2019, the Minnis administration has spent a total of $13 million to keep the Grand Lucayan Resort in Grand Bahama operating.