46 Staff: Voluntary Retirement Offered
The Bank of Butterfield today [Dec.7] confirmed that they offered voluntary early retirement to 46 employees aged 60 to 65.
A Butterfield spokesperson said, “We confirm that we have offered early retirement to 46 employees in Bermuda aged 60 to 65. Each employee’s decision whether to accept the retirement package being offered is voluntary and entirely his or her own.
“If an individual employee chooses not to accept early retirement, it will have no bearing on his or her current role or responsibilities within Butterfield, or future opportunities he or she may wish to pursue within Butterfield.”
Why is it that all BNTB’s layoffs are public but HSBC’s aren’t? Ask anyone who works at HSBC Bermuda – there have been lots of layoffs but no public articles or press releases about it.
Lord have mercy …. we have a lot of Loosers running this country..and they are getting away with the bullshit….and our Govenor is sitting back and allowing this to happen…I thought Gov Vericker was a joke…but Gozney is the worst Gov bda has ever had……..
Guys…this is just the BEGINNING. Bank of Bermuda and now Butterfield are under the control of foreigners. Foreigners don’t give a sh!t about Bermuda’s social problems. They just want to make money. And isn’t it crazy that it was a labour govt (the PLP) that approved of all of this. The PLP has SOLD US OUT!!!!!!!!!!!!!!!! Next year is going to be a very poor year for Bermuda. Hold tight.
maybe HSBC have a grip on some of the media? um just sayin
Take the early retirement
Yes I agree, take the package, otherwise after the new year it will be, “my way or the high way”
don’t do it. They can’t let them go because of age.
Actually, they should take the early retirement. BNTB is not out of the woods yet. Take the package while water is at the well!!!
no mention of those under the age of 60 that were made redundant last friday?
HSBC does them in dribs and drabs so they go under the radar.
Maybe its because HSBC are a privately owned company, and thus do not have to put everything in the news
They are not a privately owned company, CapitalG is privately held. HSBC is better at keeping bad news out of the media.
How many were non-Bermudian? are Bermudian’s tired of this? just look at who are working!!!
exactally
BNTB have reduced their IT staff by 70% and moved their data centre to Canada.More lost jobs to come.Most IB and large legal firms have done the same.No line ups at Lindos and Myles any more.Bye Bye expats ,bye bye good times.
I was in Lindo’s today and I have noticed a decline in shoppers there,like you say no waiting in lines…..
at least when you call bntb’s call centre you will be able to understand what they are saying as opposed to HSBC…um just sayin
That alone is good enough reason to leave HSBC. If I did not have to have at least one account there for business reasons I would have been history a long time ago after over a 100 year family relationship with that bank.
We need to layoff this Gov’t!
We sure need to lay off this Gov, and can anyone tell us is Vince Ingham still the C.E.O. of Belco ?
Yes he is.
Is Bermuda large company under finacial strains?? we need answers???
Premier ????
what about another stress test (financial cash)for these companies ??
Patrice, now that you are a full t ime government MP and not part time its full time for you to do the peoples work i cant believe that you honestly had the nerve to be drawing full pay round the bank girl and still took the full MP pay and your mortgage benefits at bntb. your answers on tv mondee night really showed your incompetence where you claimedbthat you increased visitor arrivals
when C 10 votes you out is your cousin Paula gonna give you a full MP gig again from the senate even though you have done no work either at the bank or for government?
i am a PLP voter but for once lets get rid of all the dead weight and allow Premier to have the strongest possible team around her, the way bntb has unfolded is totally unacceptable they didnt even claw back from them executives who crippled the bank
Premier we still believe in you, you booted Laverne Terry abd Burch please do the sensible thing with Patrice and look past the cousin thing, even cousin Derrick aint gonna give none of his slow cuzins from C7 no parts of a $170,000+package and travel if they cant do the job
Patrice is still doing nothing at Immigration she is clueless completley clueless
The long economic winter has begun.
Maybe if the people of bermuda started using turn signals while they drive, Bermuda would be a much happier place.
This is nonsense. I know for a fact there are people who will be laid off due to their age and it is not voluntary!
You people should stop the negativity, there is no story here we all new cost ratio had to be reduced as a key driver of new strategy
The Head of BNTB Human Resources also Chair of the Immigration Board so everything will work out for the people getting laid off or fired this is just a little cost cutting nothing to talk about you lot sensationalise things too much, their Head of HR would have already placed people via NTB etc and the new jobs core program.
How can the HR manager at a local IB company that also took Govt $200m Bailout also be Chair of the Immigration Board?
Then the whole business of Minister Minors working at the Bank full time, part time, full time pay and running the two most important ministries on a full time, then part time basis.
Is it any wonder why that Bank keeps losing money and why the Govt is incapable of getting their heads around the whole immigration mess they’ve created
Then to top it off we have Chief Immigration Officer Azar down here at Cabinet as a seconded Special Advisor.
I give up I’m not voting for either party, better to sit here and say Yes Honorable when they all wak past me.
Didn’t BNTB make money the last three quarters? I think it did.
And didn’t I read that it wasn’t actually a $200m bailout, rather a guarantee should the bank need it?
Sandgrownan,
………whats that saying again about throwing a stone into a pig pen, how do you know which one got hit again?
Since you are the authority on the great NT BNTB, please illumunate on the following:
- The share price now at $1.25 how about you tell the public when the former executive dumped all their shares pre-Carlyle/CICB
- Without the $200m guarantee the bank’s counterparty rating would have disintegrated rapidly, so my friend, the Guarantee as you call it was exactly that a Bailout.
- tell us about the golden parachutes for the Men who brought the Bank to the brink of collapse, and the few who remain still drinking milk from the trough
- by the way, since you and BNTB are now a dept of Govt please reassure us that our jobs will be safe at the bank over the next 12 – 18 months while the non producing SVP EVP and SEVP elite fly around for meetings and gold at tuckers point
Apologies, I was just looking at this years published results. Profit.
A guarantee is just that, I appreciate why it was needed, but it’s not a bailout.
Brad should have fired every last one of you peoples who are still paid over $175,000+ a year to spend time on Bernews to defend your incompetence
every last one of you should have got the boot after Alan Thompson
SMH
…I am afraid that we will see unemployment among residents like we have never ever seen in Bermuda in the coming months…it doesn’t matter whether you vote for the PLP or OBA, unemployment is on the rise…with Government’s inability to reduce its cost for whatever reason and its revenue shrinking base, people of Bermuda be prepared for the implementation of Austerity Measures via the budget or dictated by the note holders of that $1.2 billion dollar debt..I’m Just Saying…
Is there a corporate governance framework in Bermuda to avoid the type of foolishness being discussed above at bntb? the insurance market has this EU solvency 2 thing, why isnt there a USA or UK style super sarbanes oxley regime to monitor who’s on what board, doing what job if it may impair their judgement in their main 9-5 job……………there are hundreds of qualified people with no job and some of these lot appear to have 3 and 4 that they dont do even 1 properly.
It makes you wonder with all these backroom friendships and side arrangements whether anyone is actually focussed on the objectives of their main 9-5pm job…………..some of these people appear to have their fingers in so many different farine pies that even they must get confused as to the true objective or who they really should be representing
what ever happened to “I will be my brothers keeper” like we all sing on Sundees up at church in Somerset before we speed away in the big SUV?
The truth is you do not get hired because you are BERMUDIAN and you get layed off because you are BERMUDIAN, are you all really tried of this happen its a real problem that has to stop NOW!