The Bank of Butterfield has offered retirement to 56 members of its Bermuda staff. Employees offered the package are 58 to 64 years old, and it is optional – not mandatory.
Michael Collins, senior executive vice-president, Bermuda, said: “The bank continually reviews the size and structure of its operations to ensure we are handling business volumes as efficiently as possible. Our decision to offer voluntary early retirement is driven by recent changes to our technology and slower economic activity in the Bermuda market.”
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