Supreme Court of The Bahamas Justice Ian Winder today granted approval to the Baha Mar joint provisional liquidators’ request to make redundant approximately
2,000 employees, effective
October 23.
The
joint provisional liquidators, Bahamas-based KRyS Global and UK-based
AlixPartners, said the lay-offs were due to the financial insolvency of
the $3.5 billion
resort project that has been stalled since
June 29.
The
lay-offs affect approximately 1,440 non-active employees and
approximately 580 active employees, including members of management and
line staff.
“Though
today’s layoffs are difficult on everyone, it further highlights the
urgency for everyone to remain at the negotiating table and maintain the
dialogue that
may lead to a resolution, a re-start of construction and the completion
of the Baha Mar project,” said Edmund Rahming, KRyS Global Managing Director.
Staff
were advised of their status by notice to their individual e-mail
addresses or communication from supervisors. Information was also posted
on the joint provisional
liquidators’ website
www.bmplprocess.com
“We
were paying housekeeping staff when there was no housekeeping to do,
spa staff when there was no spa, casino staff when there was no casino
to operate,” said
Alastair Beveridge, AlixPartners. “Thanks to monies that were made
available to us by the Government from funds that were due to Baha Mar for road construction works, we were able to keep these staff members on as long as we did. We know that they have obligations,
that many of them gave up other jobs to join the Baha Mar dream team and now we are continuing to focus on how best to make that dream a reality.”
Management
and staff who were made redundant are being offered assistance in
development of CVs and resumes and in job-hunting. Staff members were
retained to provide
assistance in job skills development and life skills, with employment
workshops scheduled to run from
October 29 to October 31.
Today’s actions did not affect the Melia Nassau Beach Resort.