{"id":83826,"date":"2019-11-28T16:14:24","date_gmt":"2019-11-28T20:14:24","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=83826"},"modified":"2019-11-28T16:14:24","modified_gmt":"2019-11-28T20:14:24","slug":"barbados-scotiabank-restructuring-operations-in-barbados","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/","title":{"rendered":"BARBADOS-Scotiabank \u201crestructuring\u201d operations in Barbados"},"content":{"rendered":"
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Scotiabank Barbados says it will be \u201crestructuring\u201d its managing director\u2019s office here and has been holding talks with staff and the union on the issue.<\/p>

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The bank was responding to a report published in the online publication\u00a0Barbados TODAY<\/b>\u00a0that as many as 20 employees could be placed on the breadline as a result of the restructuring exercise.<\/p>\n

While it did not confirm the exact number of workers to be dismissed, Scotiabank, which has been in operation here since 1956, said that the restructuring was necessary because of the recent decision to sell some of its operations in the Eastern Caribbean.<\/p>

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\u201cAs a result of the completion of the sale of Scotiabank operations in seven Eastern Caribbean countries, we will be restructuring our managing director\u2019s office in Barbados, particularly the centralised functions that supported the divested businesses,\u201d the bank said in a statement.<\/p>

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\u201cWe have been discussing these changes with both our employees and our union partners over the past several months,\u201d it added.<\/p>\n

Last month, the St Kitts-Nevis-based Eastern Caribbean Central Bank announced that effective November 1, the Bank of Nova Scotia operations in Anguilla, Dominica, Grenada, St Lucia, St Kitts-Nevis, and St Vincent and the Grenadines would end and that the Trinidad-based Republic Financial Holding Limited (RFHL) would begin operations in these countries in a US$123-million deal.<\/p>

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Antigua and Barbuda has refused to provide the necessary vesting order that would have facilitated the sale in that island, with Prime Minister Gaston Browne insisting on the Toronto-based financial institution selling its assets to a consortium of local banks.<\/p>\n

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Scotiabank Barbados says it will be \u201crestructuring\u201d its managing director\u2019s office here and has been holding talks with staff and the union on the issue. The bank was responding to a report published in the online publication\u00a0Barbados TODAY\u00a0that as many as 20 employees could be placed on the breadline as a result of the restructuring […]<\/p>\n","protected":false},"author":3,"featured_media":22089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-83826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional"],"yoast_head":"\nBARBADOS-Scotiabank \u201crestructuring\u201d operations in Barbados - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BARBADOS-Scotiabank \u201crestructuring\u201d operations in Barbados\" \/>\n<meta property=\"og:description\" content=\"Scotiabank Barbados says it will be \u201crestructuring\u201d its managing director\u2019s office here and has been holding talks with staff and the union on the issue. The bank was responding to a report published in the online publication\u00a0Barbados TODAY\u00a0that as many as 20 employees could be placed on the breadline as a result of the restructuring […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-28T20:14:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/11\/Scotia-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2592\" \/>\n\t<meta property=\"og:image:height\" content=\"1936\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"BARBADOS-Scotiabank \u201crestructuring\u201d operations in Barbados\",\"datePublished\":\"2019-11-28T20:14:24+00:00\",\"dateModified\":\"2019-11-28T20:14:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/\"},\"wordCount\":264,\"commentCount\":2,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:1445\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/11\/Scotia-2.jpg\",\"articleSection\":[\"Regional\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/\",\"url\":\"https:\/\/antiguanewsroom.com\/barbados-scotiabank-restructuring-operations-in-barbados\/\",\"name\":\"BARBADOS-Scotiabank \u201crestructuring\u201d operations in Barbados - 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