News

BIGWU, UNI Finance affiliate, said that there is a problem with the interpretation of the Retrenchment and Severance Benefits Act 1986 which may prevent workers losing their jobs at CIB from receiving severance pay. According to the interpretation of the law by the Privy Council retrenchment applies only to surplus labour. In other words, if a business closes down part of its operation, those affected workers will receive severance pay. However, if the entire business closes down, those workers will receive no severance pay.



The press release by BIGWU is available below:

Trinidad and Tobago is considered the financial capital of the Caribbean.