TSTT, CWU to meet on Tuesday

COMMUNICATION Workers Union (CWU) head Clyde Elder recently told Newsday his union is due to meet with TSTT officials next Tuesday.

This comes afterTSTT's recent announcement that the company would be restructured, which the CWU fears signals the pending retrenchment of workers. In 2018, some 700 employees were sent home.

Last week Monday, a statement by TSTT said last year its revenue fell by $453 million, from $2.49 billion to $2.04 billion, ironically translating to its after-tax loss lessening from $277 million to $94 million. TSTT blamed the drop in revenue on the pandemic and competition from newer platforms like WhatsApp and Zoom, with these factors looking set to continue into the future.

TSTT CEO Lisa Agard said then, “Given our current challenges, TSTT considers that it must now urgently restructure to remain competitive."

Elder had told Newsday, "Without saying that in so many words, it is clear they are going to further downsize and restructure and retrench employees at different levels of the company. We could very well see the decimation of the company as we know it, of course, if we are not careful with how it is done.”

Minister of Public Utilities Marvin Gonzales told Newsday, “I hope the discussions between the union and management result in an agreement to work together in close collaboration to transform the organisation so it can achieve its mandate on behalf of its shareholders and customers.”