Gibbons Company Retirements & Redundancies

April 19, 2012

Gibbons Company notified employees internally in early March of the retirement of 9 long serving employees and 3 redundancies across the group.

A statement released by the Company said, “The decision came as a result of the continued decline in retail sales and the need for the company to make readjustments to its business model in order to remain competitive.

“Gibbons Company like many other international and local businesses has been forced to make some difficult decisions in order to sustain a healthy business in Bermuda.

“Gibbons Company remains committed to Bermuda and will continue to employ and develop Bermudians with a keen interest in retail in order to give the Bermuda community the best choice, at a fair value with excellent customer service.

“Gibbons Company was founded in 1916 and since that time has grown significantly, expanding its retail products and services to include women’s, men’s, children’s, the home store, shoes and accessories and MAC cosmetics.

“Bermuda’s locally owned and largest department store employs a workforce of 89 Bermudians who most of which have been with the company for 10 – 20 plus years. Gibbons Company is the leading distributer of global fashion brands such as Jones New York, DKNY, Lacoste, Mango and many others.”

Paula Clarke, Chief Executive Officer of Gibbons Company said, “There is no doubt that making these kinds of decisions is difficult for all of us. We have been in dialogue with the team for quite some time about the business, the economic environment and the potential for restructuring. We value the contributions that our employees make for the ultimate success of Gibbons Company and it is with great regret that we announce the recent retirements and redundancies.”

Ms. Clarke continued by saying, “The harsh reality of the current economic environment in Bermuda means that there is simply less spending occurring across the island within multiple retail sectors. Everyone is being affected. In order to remain a viable retail provider we must remain vigilant as to the trends and business indicators occurring both locally and around the world.”

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Comments (5)

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  1. VJ says:

    Ms Clarke, I sincerely hope that your company seriously looks into giving your remaining staff a decent raise. They are the backbone of the company and without them there would be no business. I doubt you would be able to survive on the slave wages the staff earn at this company….and don’t dare blame the economy because Gibbons was always known to pay poorly….

  2. pepper says:

    hey you lot Coopers are having a hard time to operate…. they will be the next to close down !!!!!!!!!!!! hey you Bermudians have you noticed how easy it is o park in Hamilton ? it is because the exempt companies have left….so we have the Col Burch to thank us for this…. Burch was on the peoples show and was proud that Bermudians can afford the lower rents… because he got rid of the exempt companies…. and the host of this show laughed and agreed with him….

  3. Maddog says:

    Where are all the white people’s comment o it is not a black business.

    • Hudson says:

      Maddog – what on earth are you talking about? The good news about this downward spiral we’re in, is that at some point down the road when we are all fighting for scraps we will realise how good we had it, how it’s not a black thing or a white thing, and how we must learn to appreciate, tolerate and understand each other and the community if we are ever going to have another hayday like we did in the 90′s and early 2000′s.

      The comments on these blogs are so disheartening and often make me lose faith in humanity.

  4. Black Watch Pass says:

    Maddog what the F stupid comment is that? Bring race into it why don’t you – I D I O T !