Trade unions demand more information regarding sale of CIBC First Caribbean shares

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By Theresa Goodwin

[email protected]

A meeting in Trinidad and Tobago last week between regional trade unions and top executives of CIBC First Caribbean and GNB Financial Group, did little to address critical concerns that were raised by workers in countries in which the bank operates.

Reports which surfaced late in 2019 indicated that the majority shareholding of CIBC First Caribbean had been sold to the Gilinksi Group from Colombia. This was later confirmed by a letter to the trade unions issued by the bank in November 2019.

Union leaders from Antigua and Barbuda, Bahamas, Barbados, Dominica, Grenada, Jamaica, St Maarten and Curacao, St Vincent and the Grenadines, and Trinidad & Tobago, were seeking to discuss concerns regarding job security,  possible changes in work structure and the future of the Regional Framework Partnership Agreement between the bank and the respective trade unions and options for workers who may wish to move on.

General Secretary of the Antigua and Barbuda Workers Union (ABWU) David Massiah attended the talks on behalf of his organisation. He said while some information was shared with the union leaders they are still not fully satisfied.

Massiah said the union representatives were looking forward to a more engaging forum similar to what existed with the original managers at CIBC First Caribbean.

Read more in today’s newspaper

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