Four hundred and sixty-eight employees of the Telecommunications Services of Trinidad and Tobago Limited (TSTT) received retrenchment notices today.
In a release, TSTT said it commenced its restructuring exercise to position the company for sustainability and profitability.
The company said 403 employees comprising a mix of Junior and Senior Staff and Estate Police officers will each receive payment in lieu of the regulatory 45 days’ notice after consultations with their respective recognised unions.
In the financial year ended March 31st 2021, TSTT’s revenue fell by TT$453 million – 18% less than the prior year.
The restructuring exercise is expected to result in a more efficient, customer-focused and modernised organisation.