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TSTT "Transforms to survive" - retrenches workers

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TSTT "Transforms to survive" - retrenches workers

Postby Duane 3NE 2NR » November 15th, 2018, 6:31 pm

Today, Thursday 15 November, 2018, TSTT executed on a critical phase in its organizational transformation. This phase involves 503 Junior and Senior staff employees receiving retrenchment notices along with payment in lieu of the 45 days’ notice. The next phase will involve the rationalisation of non-unionized employees including the executive level.

According to TSTT’s CEO, Dr Ronald Walcott, “In the previous financial year, TSTT recorded an operating loss of $32.5M and the contributing factors that led to that performance continued in the six months of the current financial year to September 2018 where the company recorded a loss of $478.8M.”

To date, TSTT has been plagued with a perennial problem of high employee costs. Contrary to the assertions being bandied about in the public domain, of the $768M annual wage bill, emoluments to Junior and Senior Staff comprise 82.3%. The company is also carrying a debt burden of $1.8B of which 40% (~$700M) pertains to the settlement of back pay to Junior and Senior Staff. In addition, TSTT’s employee cost is greater than 30% of its revenue; the industry benchmark being 15%. The revenue per employee is US$177K compared to the industry benchmark of US$400K.

Walcott added “With the continued erosion of our profit margins and reduction in our revenues, organisational realignment is mandatory. We began our journey to move from a legacy telecommunications organisation to an agile broadband communications company in 2016 because we recognised if we didn’t transform our business model, the company would not survive.”

According to Carol David, EVP HR/IR/CSS “We have to realign the roles and skills across the organisation at all levels including the executive suite. Our focus is to become more agile and efficient and operate at world class standards to ensure that TSTT can meet the ever-changing customer demands.”

TSTT has met regularly with the Recognised Majority Unions (RMUs) including the Communications Workers Union (CWU) on all relevant matters pertaining to the New Business Model and staffing of the organisation. At all times, the Company has attempted to reach consensus but unfortunately to date the Union continues to engage in circular conversations in a situation where time and the organisation’s survival is at a tipping point.

“We are committed to ensuring that all employees are treated fairly and with respect as we continue to manage the transformation process,” said David.


tstt-retrenchment-redundancy-letter.jpg

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Re: TSTT "Transforms to survive"

Postby jhonnieblue » November 15th, 2018, 6:47 pm

We had to face the effects of globalization sooner or later. Soon the energy sector will continue the trend of downsizing work force.
The model of state enterprises could have never been profitable anyway

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Re: TSTT "Transforms to survive"

Postby mitch1980 » November 15th, 2018, 6:51 pm

Glad some action is being taken help change the old business model which become ineffective.
to stay competitive they need to restructure.

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Re: TSTT "Transforms to survive"

Postby Les Bain » November 15th, 2018, 7:01 pm

My buddy got spared but he's in a mess.
The 45 day notice was back dated. People got their letters today. Today is day 44 of the notice.

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Re: TSTT "Transforms to survive"

Postby hydroep » November 15th, 2018, 7:06 pm

Sending home more people just before Christmas yes, these people have no heart nuh.

Notice how Sh!tkicker and dem going brave in certain sectors buh they not touching the public service eh...doing so might "transform" their voter base...:|

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Re: TSTT "Transforms to survive"

Postby The_Honourable » November 15th, 2018, 7:13 pm

He may not touch it, but he is the right man to do it. His voter base will rationalize and take pipe. If it was anybody else outside the pnm, fire and brimstone in POS.

It's sad they get buss throat like that but at the same time, TSTT needed to fix their business.

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Re: TSTT "Transforms to survive"

Postby Phone Surgeon » November 15th, 2018, 7:40 pm

Les Bain wrote:My buddy got spared but he's in a mess.
The 45 day notice was back dated. People got their letters today. Today is day 44 of the notice.



damn

thats a piece of flabbergastery

and as someone else said, watch the timing right before xmas

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Re: TSTT "Transforms to survive"

Postby neilsingh100 » November 15th, 2018, 8:06 pm

This will leave them with 1300+ unionized employees

According the collective agreements they should get some decent termination benefits.
Junior staff will receive 2 months salary for each year of service
Senior staff will receive 3 months salary for each year of service

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Re: TSTT "Transforms to survive"

Postby Picasso » November 15th, 2018, 9:06 pm

neilsingh100 wrote:This will leave them with 1300+ unionized employees

According the collective agreements they should get some decent termination benefits.
Junior staff will receive 2 months salary for each year of service
Senior staff will receive 3 months salary for each year of service


8-) Correct.

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Re: TSTT "Transforms to survive"

Postby rmrunner » November 15th, 2018, 9:47 pm

Wonder if the temporary workers getting let go or they re hiring them in the professional positions in the new structure.

Then again there is always a way to outsource jobs and just keep a few inside to coordinate.

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Re: TSTT "Transforms to survive"

Postby ProtonPowder » November 15th, 2018, 10:31 pm

neilsingh100 wrote:This will leave them with 1300+ unionized employees

According the collective agreements they should get some decent termination benefits.
Junior staff will receive 2 months salary for each year of service
Senior staff will receive 3 months salary for each year of service

Not bad to be honest

hydroep wrote:Sending home more people just before Christmas yes, these people have no heart nuh.

Notice how Sh!tkicker and dem going brave in certain sectors buh they not touching the public service eh...doing so might "transform" their voter base...:|

This already happening a while now man, is called short term contracts. Permanent hiring is down to almost none, spare for the couple dozen clerk 1's. Everything else except the high level professional posts are with 6 month contracts, 3 years for the things the government really want, like the whole property tax unit.

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Re: TSTT "Transforms to survive"

Postby sMASH » November 16th, 2018, 6:04 am

hydroep wrote:Sending home more people just before Christmas yes, these people have no heart nuh.

Notice how Sh!tkicker and dem going brave in certain sectors buh they not touching the public service eh...doing so might "transform" their voter base...:|


:) :) now i got my inspiration for my next instigation....

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Re: TSTT "Transforms to survive"

Postby sMASH » November 16th, 2018, 6:10 am

Phone Surgeon wrote:
Les Bain wrote:My buddy got spared but he's in a mess.
The 45 day notice was back dated. People got their letters today. Today is day 44 of the notice.



damn

thats a piece of flabbergastery

and as someone else said, watch the timing right before xmas

i dont think u can backdate a termination letter, cause by law u need to give 45 days notice, and backdating it is essentially not giving a 45 day notice. the most u can do is enforce the removal of the person from the date of issue...

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Re: TSTT "Transforms to survive"

Postby Phone Surgeon » November 16th, 2018, 6:12 am

I think they does do it in a way that they force u to take your vacation from the date of the letter. So u cud get d 45 day letter today....you have a 30 or 40 days vacation inside....so effectively you have a 5 days left to work

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Re: TSTT "Transforms to survive"

Postby SR » November 16th, 2018, 6:25 am

Wasa and ttec next.........

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Re: TSTT "Transforms to survive"

Postby Allergic2BunnyEars » November 16th, 2018, 6:40 am

sMASH wrote:
Phone Surgeon wrote:
Les Bain wrote:My buddy got spared but he's in a mess.
The 45 day notice was back dated. People got their letters today. Today is day 44 of the notice.



damn

thats a piece of flabbergastery

and as someone else said, watch the timing right before xmas

i dont think u can backdate a termination letter, cause by law u need to give 45 days notice, and backdating it is essentially not giving a 45 day notice. the most u can do is enforce the removal of the person from the date of issue...


If they don’t give you the 45 days notice they pay you. In Petrotrin they supposed to give 60 but only gave 45 days notice so paid persons for the 15.

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Re: TSTT "Transforms to survive"

Postby timelapse » November 16th, 2018, 8:14 am

And in all this still have money to sponsor carnival events next year. We jamming still

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Re: TSTT "Transforms to survive"

Postby tr1ad » November 16th, 2018, 8:54 am

same thing PaP Refinery wanted to do after the last union strike... just like how TSTT doing it now...

but Mr. "take yuh rig and go" said he wouldn't allow it.. and here we are...

excessive spending and overstaffing have to stop sometime sooner than later... across everything

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Re: TSTT "Transforms to survive"

Postby l33t2 » November 16th, 2018, 8:59 am

timelapse wrote:And in all this still have money to sponsor carnival events next year. We jamming still


Well I expect carnival and Christmas to be extra dead this season. I already know some fete promoters reducing the number and size of the events next year.

Government initiatied recession achieved.

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Re: TSTT "Transforms to survive"

Postby 200sx » November 16th, 2018, 9:02 am

SR wrote:Wasa and ttec next.........





THIS.......................

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Re: TSTT "Transforms to survive"

Postby ProtonPowder » November 16th, 2018, 3:47 pm

l33t2 wrote:
timelapse wrote:And in all this still have money to sponsor carnival events next year. We jamming still


Well I expect carnival and Christmas to be extra dead this season. I already know some fete promoters reducing the number and size of the events next year.

Government initiatied recession achieved.

I wouldnt be so sure about that jed. I notice that banks dropping their interest rates on loans, down to sub 4.5% from scotia and thing. They emailing and mailing 'pre-approval' letters to their existing customers across the country from all banks and even courts giving $16k+ iPhone on hire purchase.

If people dont have the money to live large, they putting it in their hands and bleeding them back for it.

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Re: TSTT "Transforms to survive"

Postby Redman » November 16th, 2018, 4:28 pm

tr1ad wrote:same thing PaP Refinery wanted to do after the last union strike... just like how TSTT doing it now...

but Mr. "take yuh rig and go" said he wouldn't allow it.. and here we are...

excessive spending and overstaffing have to stop sometime sooner than later... across everything


State enterprise and union.

Results are the same.
Bloated non-competitive and disfunctional

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Re: TSTT "Transforms to survive" - retrenches workers

Postby Rovin » November 16th, 2018, 7:29 pm

sorry to hear of even more ppl losing their jobs

just wondering if all these retrenchments wud be accepted so easily by workers & d public under any other govt besides d pee en em ... :| :| :|

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Re: TSTT "Transforms to survive" - retrenches workers

Postby l33t2 » November 16th, 2018, 7:41 pm

Rovin's Audio wrote:sorry to hear of even more ppl losing their jobs

just wondering if all these retrenchments wud be accepted so easily by workers & d public under any other govt besides d pee en em ... :| :| :|


If this was done by Kamla expect riots on the streets. To be fair though, someone HAD to do it but I do think it's being handle badly. I got friends Inc TSTT and they way this was done was almost with malice. And the time frame, right before Christmas is saddening as well.

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Re: TSTT "Transforms to survive" - retrenches workers

Postby Primo-El » November 16th, 2018, 7:43 pm

Sadest part is some people just lost everything in the flood and now on they wining on the breadline right into Xmas.

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Re: TSTT "Transforms to survive" - retrenches workers

Postby D Diesel Report » November 17th, 2018, 1:56 am

Oh Lord! Carnival come again!
Oh Lord! I drunk in port of spain!

Who care if yuh lose yuh wuk?
Who care if yuh on savings and gone bruk?
Who really need a mortgage to pay, pay, pay?

Cause we Pumpin! :drinking: :drinking:

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Re: TSTT "Transforms to survive"

Postby cracker » November 17th, 2018, 1:53 pm

SR wrote:Wasa and ttec next.........
Dont be so pessimstic but I have to agree that you could be right

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Re: TSTT "Transforms to survive" - retrenches workers

Postby SR » November 18th, 2018, 7:53 am

Nobidy is being pessimistic its reality. The biggest hurdle was dealing with petrotrin and the union and that was done wasa and ttec unions are not as powerful as owtu and they are also overstaffed.

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Re: TSTT "Transforms to survive" - retrenches workers

Postby hydroep » November 18th, 2018, 8:55 am

Not taking any joy in seeing people lose their jobs eh, but just like some employees in Petrotrin many in Government's employ felt they were untouchable.

A few years ago a certain vocal young lady working at WASA was boasting about her increase, saying how they were entitled to it, how "Duke is the man" and so on and so forth.

She quiet like a mouse now.

But I would really like to see them reduce the size of the public service, outside of the "easy to touch" contract workers. IMO it is the permanent workers who routinely abuse the system: coming in late, signing, then spending the State's time tending to their personal business; relaxing, chatting, absconding with office supplies, talking on phone/checking social media instead of attending to citizens' matters etc...etc...etc...

Fact is the Public Sector Wage bill forms one of the biggest components of recurrent budgetary expenditure. If Dr. Rowley & Co. is serious about balancing the budget they have to chop it down.

It would be a grave injustice to all who have been sacrificed in other sectors if the money saved is used to prop up the public service for political (or whatever) reasons...:|

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Re: TSTT "Transforms to survive" - retrenches workers

Postby ProtonPowder » November 18th, 2018, 10:02 am

It doesnt help with public perception when Duke starts demanding $15k in the account of every single public servant by mid December. Even though is just hot air from a union leader, sheit like that would make the general public more densensitised to job cuts and retrenchments that will soon happen in the government offices.

Things like this make me feel as if people such as Duke, PEA and other similar characters are just controlled opposition. Make them say such over the top nonsense that the largest voter bases will forever be turned off by their cause.

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