KeyTech Restructure, Makes 13 Jobs Redundant

November 3, 2015

[Updated] Following what they said was a “review of the new combined company in order to continue to operate efficiently and provide our clients with cost-effective services,” KeyTech has restructured their operations which has resulted in 13 job positions being made redundant.

KeyTech CEO Lloyd Fray said, “Following a review of the new combined company in order to continue to operate efficiently and provide our clients with cost-effective services, we have restructured our operations.

“This has resulted in making 13 positions redundant. Letting employees go is tremendously difficult and I would like to thank those affected for their service to the company,” added Mr Fray.

The company recently announced that they entered into an agreement with Atlantic Tele-Network, Inc. that will allow KeyTech, through Bermuda Digital Communications, Ltd., doing business as CellOne, Logic and its other subsidiaries, to create a full service provider of mobile, fixed and international telecommunication services in Bermuda.

“As part of the proposed transaction, the CellOne shares held by minority shareholders in CellOne will convert into KeyTech shares such that CellOne will become a wholly owned subsidiary of KeyTech,” the company previously said.

Update 10.10am: A KeyTech spokesperson clarified their initial statement, saying it is actually 13 redundancies not 12.

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Comments (17)

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  1. Um.... says:

    Good job, RA! Look what you hath wrought on Bermuda. How many telecoms jobs have been lost since the RA was formed and allowed all of these companies to be gobbled up by two foreign entities?

  2. Terry says:

    Damn Exempt Companies.

    More jobs lost by Bermudians.

    It’s all an ‘A-Fray’.

  3. Cow Polly says:

    Exempt companies are merging, local companies are merging the only ‘company’ not merging is Government and who needs it most?

  4. chip says:

    whats total count in full! time to pull up our sucks b.d.a winter here all ready mercy

    • Come Correct says:

      Not sure but they’ve been making redundancies since the Northrock merger.

  5. swing voter says:

    Hey RA, the revenue is already being shipped off island…now Jobs shifted off island….Less Employment taxes for govt….More Social assistance clients on your doorstep….more mortgages defaulted. Careers in ruin….

    RA do something to stop this NOW

  6. SMH says:

    My heart goes out to the 13 people who have lost their jobs. Redundancy money only goes so far in this day and time. And just before Christmas too. I wish all of you the best of luck and hopefully you all get a better job sooner rather than later. God Bless.

    • Onion Juice says:

      What’s the difference in losing your job round Christmas than losing your job in June?

    • frank says:

      keytech management don’t know what they are doing they have no clue
      and tripple play will not happen for them.

  7. Y-gurl says:

    Yeah thanks to the “ethical RA” who allowed rhe Canadians to come in and tear the industry apart only to have the profits shipped off, OK KeyTech is hardly the best managed company around with some questionable financial dealings and investments Burt now we all have to suffer for an uninformed RA

  8. Fedup Nana says:

    So sad, gone are the days when “The Bermuda Telephone Co.” was the place to work.

  9. STFD says:

    To Onion Juice. STFU. for once in your life. SAF.

  10. Navin Johnson says:

    And the costs will still be too hgh

  11. Philip says:

    Getting rid of dead wood

  12. Ann says:

    I feel very badly for the redundancies, so many companies have had no choice, wnat I don’t understand is how we manage not to lessen our civil service?????? I’m not talking about the bus drivers, or ferry workers or the hard working trash collectors, I’m talking about the management that drive in large trucks that I can’t afford, and the management staff sitting in cubicles, in my opinion that were we need redundancies.