Telecommunications
Services of Trinidad and Tobago (TSTT) Limited implemented its strategic
plan back in 2013 to transform the organization based on three pillars, which
were:
- Automation
–IT
enable 
- Infrastructure
– Upgrade infrastructure to improve customer service and keep pace with
technological advancements and customer demands.
- Organizational
Transformation – Rationalization of all categories of staff
via Voluntary Separation (VSEP) and Enhanced Early Retirement programs
(EERP) as well as a shift in knowledge, skill sets and culture in addition
to the implementation of new structures along with corporate
rebranding .
The
company offered VSEP/EERP packages to all categories of staff as a result of
mounting personnel cost given that 25 percent of
the company’s revenue was used to satisfy wages. It
should be noted this was prior to the 2015 Industrial Court judgment that would
have further inflated this position.
This
matter was referred by TSTT to the Industrial Court in 2014 as a trade dispute
with respect to the terms of the VSEP/EERP packages offered to junior and
senior staff employees. On October 13th, 2015 TSTT withdrew the
matter from the Industrial Court.
Given
the rising personnel cost (Two collective agreements outstanding) and increased
competition in all lines of business along with the potential sale of Cable and
Wireless 49% interest in the company. It begs the question how does TSTT plan
to address its operating cost?
So, is is that TSTT is no longer offering VSEP/EERP to junior & senior staff?
ReplyDeleteWell what we know for sure it's not on the table as to whether it will be offered in the future the current executive will have to obtain approval from the new board assuming that's the direction the new board wants to go in.
ReplyDeleteWell what we know for sure it's not on the table as to whether it will be offered in the future the current executive will have to obtain approval from the new board assuming that's the direction the new board wants to go in.
ReplyDelete