Job Losses Due To ‘Restructuring’ At BF&M

January 15, 2020 | 4 Comments

Noting that they are “focused on operational efficiency and client service” and “staff according to the changing needs of the business,” BF&M has confirmed that seven positions were “involved in the restructuring” with two of the people affected offered new roles.

The company confirmed that “there were seven individuals involved in the restructuring. Two of them were offered new roles within the existing in-house team, focused on continuing to grow the Individual Life insurance business.”

John Wight, Group Chairman and CEO of BF&M Limited, said, “We are always focused on operational efficiency and client service. We have determined that reallocating the servicing of our Individual Life insurance business in house instead of through an agency structure allows us to better meet those objectives.

“We staff according to the changing needs of the business as part of our normal course of operation. There is no change to our approach.

“I am pleased to confirm we have been able to offer full time employment to two individuals who were impacted by the restructuring. BF&M remains fully committed to growing our Individual Life insurance business in Bermuda.”

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Comments (4)

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  1. red rose says:

    don’t worry, haven’t you heard? fintech is here – it will solve everything!

    • Answer says:

      Well we all know that changing the name from UBP to oba/UBP didn’t solve nothing. Still the same

    • Trump supporter says:

      That pyramid stuff has fallen right off the radar. Burt coin better come up with another myth.

    • Things a Gwan says:

      Sad to hear for these staff members. Sad times.

      There was a time that the Premiere and Caines seemed to be putting all his chips on Fintech and this Tech Hub idea at Southside. I personally did not share their vision but respected that they were thinking outside the box and trying things that others were not.

      The part that bothers me today is the fact that we haven’t heard anything in months regarding updates, the current status of these two job creating projects He’s unknown and they’re do not seem to be any new ideas being introduced. Have they just given up and quit?!

      They need to either lead follow or get out of the way!

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