BELCO Offers ‘Voluntary Separation Package’
BELCO is reviewing all “operational costs and processes and reducing our operating expenses where possible” and “as part of this process, BELCO is offering a Voluntary Separation Package to employees.”
BELCO President Wayne Caines said: “Bermuda Electric Light Company Limited [BELCO] is always seeking ways to lower costs and ensure value for our customers. This includes reviewing all our operational costs and processes and reducing our operating expenses where possible.
“Like many utilities in similar jurisdictions, BELCO is adapting its business model to better serve customers and provide the most cost-effective electricity service while ensuring reliability and building for a sustainable future.
“In response to evolving stakeholder expectations, we have conducted a comprehensive assessment of our operations. This review has examined our organisational structure, operating models and processes to identify opportunities for greater efficiency and to reduce our operating expenses.
“As part of this process, BELCO is offering a Voluntary Separation Package to employees. We know that these changes will impact the lives of our employees, and we deeply value the dedication and expertise our team brings to serving Bermuda every day. This voluntary approach reflects our commitment to making balanced and transparent decisions that require shared sacrifice across the organisation, while providing options and support to our team members during this period of transition.
“These adjustments are necessary to ensure BELCO remains operationally efficient while continuing to deliver the safe, reliable electricity service that Bermuda depends on. Our goal is to meet the needs of all our stakeholders – customers, regulators, and our government – while positioning the company for long-term success.”
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