St. Kitts – September 25, 2010 – Employees of the St. Christopher Air and Sea Ports Authority who volunteered to accept a separation package as part of the exercise to restructure operations, left the Organisation on Thursday, September 23, 2010.
Over two hundred staff members were separated, all of whom exercised their option to exit. Since the target number was exceeded, no employees were selected to be laid-off.
The re-organisation of staff is part of SCASPA’s restructuring exercise to achieve economic viability and sustainability. With staff costs as the highest expense item, it was necessary to lower this expenditure to reduce the sustained losses.
As a result of the separation of over two hundred staff members, SCASPA will achieve an annual reduction in losses of approximately $7 million.
Yesterday marked the completion of one measure aimed at turning SCASPA into a viable and more efficient operation. Management will continue to pursue the restructuring of the debt portfolio, reduce discretionary spending, and increase revenues to ensure the profitability of SCASPA.