Moderator: 3ne2nr Mods
TSTT CEO paid $180,000 a month
Company faced bankruptcy in 2 years
PUBLIC Utilities Minister Robert Le Hunte has reported that TSTT CEO Ronald Walcott receives a salary of $180,000 a month.
He was responding to a question in the Senate yesterday.
He said the package of the CEO and the vice president of human resources/industrial relations and corporate support (Carol David) was consistent with current remuneration packages.
He reported that the CEO, apart from his salary, also received a housing allowance of $15,000, an entertainment allowance of $5,000, a company-maintained car and medical coverage. The vice president received $105,000 per month, $7,000 housing allowance, $3,000 entertainment allowance, a company-maintained car and medical coverage.
Opposition Senator Wade Mark asked if the executives received annual bonuses, but Le Hunte said he was not in a position to answer. He added, however, that the salary paid was 50 per cent of what was paid from 2010-2015, when foreigners were employed.
He said as at December 14, 2018, a total 631 employees were severed from the company, including 77 who took voluntary separation, and this severance was part of a strategic plan to save the organisation from bankruptcy by 2021 and to save the existing 1,300 jobs.
Le Hunte said this was only one aspect of the restructuring and there was also digitisation and an ongoing “zero copper” exercise to remove copper from the infrastructure which was slowing down broadband services.
He also reported the management team was reduced from 18 people to ten and was the largest drop at the company. He was confident TSTT was on the right step to making its operations profitable.
Mark also asked if the money owed to TSTT by the Government for CCTV cameras caused the company to fire more than 600 employees.
Le Hunte said the issue, which had been in negotiations for the past six months, did not affect that decision as the company lost over $450 million in its first six months. “You cannot run a company, you cannot continue to invest and make the necessary types of advancement, especially when you are in a competitive environment, when you losing money, close to $100 million in operating profits.”
Le Hunte said last year the operating profit loss was $35 million.
The Communication Workers' Union is calling on the Government of Trinidad and Tobago to urgently meet with the Union to discuss the planned demise of TSTT whilst our Crown jewel is being hustled off to Amplia.
We are calling for Forensic Audits into TSTT.
Calling to see E&Y audit reports
Does NEL know something that TSTT has not said to the Union?
Is this the stepping stone for another retrenchment exercise?
Where is TSTT getting money from if they are allegedly embarking on another retrenchment exercise?
Are there persons lined up to buy shares?
ProtonPowder wrote:The government's one of many objectives, to aid in the ultimate dependence of every citizen on central government, is to destroy unions.
They will retrench everyone and bring inexperienced ones back on short term contracts for far less pay, and by doing so, make them uninterested in paying dues to unions that arent equipped to represent them.
TSTT legally required to implement fixed number portability
Wed Jul 28 2021
A High Court Judge has declared that majority State-owned Telecommunications Services of T&T (TSTT) is legally required to implement fixed number portability (FNP) for fixed lines. Delivering a written judgement, yesterday, Justice Frank Seepersad partially upheld a lawsuit from Columbus Communications Trinidad Limited (CCTL) against the Telecommunication Authority of T&T (TATT), over its failure to take enforcement action against TSTT on the issue. In the lawsuit, Seepersad had to determine whether TSTT was legally bound to implement portability, under which customers are allowed to change their service provider while maintaining their unique telephone number. Justice Seepersad rejected TSTT’s claims that the Telecommunications Act and TATT’s associated Regulations only required that it facilitate portability, not implement it. “TSTT’s interpretation of the proposed amendment to Regulation 9 disregards the established interpretative requirement to avoid an interpretation which is absurd and its position defies common sense, commercial logic and is devoid of practicality,” Justice Seepersad said. He also strongly criticised TSTT’s conduct while highlighting the importance of portability. “TSTT’s resistance to the implementation of FNP must be strongly condemned and its behaviour instilled, in the Court, a feeling that it was prepared to engage in protracted and wilful defiance so as to protect its market share,” Seepersad said. “Citizens should not be forced, frustrated or blackmailed into staying with a telecommunications provider because of fear of inconvenience or uncertainty. TSTT’s behaviour has been callous and calculating and must be roundly rejected,” he added. After ruling that he was resolute in his view that TSTT had a legal requirement, Seepersad had to determine what reliefs, if any, should be awarded CCTL based on its success in its judicial review lawsuit against TATT. Seepersad noted that TATT had three options available to it based on the circumstances- suspending TSTT’s concession, taking criminal proceedings against it or obtaining a fiat (formal permission) from the Office of the Attorney General to obtain injunctive relief in the High Court. He noted that suspension of the concession was not desirable as it would potentially impact thousands of citizens, who currently utilise TSTT.“Such a course would be disastrous and debilitating as it could negatively impact upon society’s tenuous and evidently weakened socio-economic health,” he said, as he described the option as a last resort as it may also affect national security. Justice Seepersad also stated that criminal proceedings could not compel TSTT to comply as, at most, it could be slapped with a one-off fine and a continuing one. He noted that TATT had correctly gone with the third option as it wrote to the AG’s Office in 2019 to get permission, which he (Seepersad) suggested should be forthcoming based on his decision in the case. However, he questioned TATT’s delay in taking the action. He also questioned whether the delay was due to the State’s role as majority shareholder of TSTT and suggested that if it was, a review of the regulatory framework should be considered.“The existence of these types of arrangements can lead to conflicts of interest, violate the tenants of good governance and compromise the public’s best interest,” Justice Seepersad said. While he was not required to grant any reliefs besides the declaration over TSTT’s legal obligation, Justice Seepersad still ordered TATT to pay 50 percent of CCTL’s legal costs as he ruled that the lawsuit was not devoid of merit or academic. TSTT was ordered to bear its own legal costs. According to the evidence in the lawsuit, CCTL brought the case after it expended $5 million to facilitate FNP but TSTT failed to abide by the December 31, 2017, deadline for the start. Justice Seepersad allowed TSTT to be joined as an interested party. TSTT appealed but the Court of Appeal upheld Justice Seepersad’s initial ruling. CCTL’s lawsuit came as another service provider, Digicel, filed separate legal proceedings against TSTT over allegations that it engaged in anti-competitive behaviour by refusing to facilitate porting requests from over 4,000 mobile customers. High Court Judge Nadia Kangaloo declined to deal with the dispute, which she suggested was within TATT’s remit.Digicel appealed but the Court of Appeal upheld her handling of that case. CCTL was represented by Steven Singh and Amanda Adinoolah, while Douglas Mendes, SC, and Gabrielle Gellineau represented TATT. Martin Daly, SC, Christopher Sieuchand and Sashi Indarsingh represented TSTT.
so dat explains ycd digicel fella was walking around asking people if they wanna switch carriers and keep their same number.
aj go stick with bmo.
I rather 51% of the profit of my money remain here than 100%:of it go to some reheaded Irishman that hates people with my skin color