Telecommunications Services of Trinidad & Tobago (TSTT) has confirmed that over 500 workers (both Junior and Senior) were given Retrenchment Notices today, Thursday 15th November 2018.
This action comes after an official letter was sent to the Communication Workers’ Union (CWU) earlier this week by TSTT. TSTT has made the following statement regarding the Retrenchment Notices: Today, Thursday 15 November, 2018, TSTT executed on a critical phase in its organizational transformation.
Read a statement below from TSTT’s CEO, Dr. Ronald Walcott, regarding the company’s finances.
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.
[Source: CNC3]
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