LIME to cut down on Cayman staff
As part of company restructuring, LIME, formerly known as Cable & Wireless, will cut 1/3 of its 3 700 regional workforce. The company has refused to discuss the number of staff and effect of local redundancies.
The company, which announced in May this year it would merge its 13 disparate Caribbean operations into a single, streamlined entity, said on Tuesday, 16 December, that it was shedding nearly 1,200 jobs across the region.
This was announced by the company on December 16. LIME that in May 2008 said it would merge its 13 disparate Caribbean operations into a single entity is going to lay off about 1 200 jobs across the region.
According to a company statement, they have determined that the optimum number for the business that is being created is approximately 2 500. So, over the next 10 months, employee headcount across the region will be reduced in line with that reality. Company executives refused to comment on the situation. However, local layoffs among the Cayman Islands 240 staff were estimated by industry insiders as fairly significant – the number of Cayman employees to be laid off could range from 25 to 80 employees.