Nassau, N.P…(July 15th, 2015) – Executive Management is pleased to announce that BTC and the BCPMU (The Management Union) has agreed on a new three year (3) Industrial Agreement which will take immediate effect. The terms of the new Agreement, effective April 1st 2014, now affords BTC the opportunity to adjust its operations to meet customer requirements for competition.
The signing of the new Agreement now allows employees identified to exit the business access to the original VSEP offer extended in March 2015. The original offer includes the additional benefits of a much more attractive salary incentive, medical coverage award, a training award and the ability to freeze pension funds and collect funds when they become available.
Employees in areas identified for outsourcing will also now be offered Fixed Term Contracts during a period of transition. Additional details about the company’s restructuring program will be shared with Staff in the upcoming days.
Further updates are expected through the day.