Last night, we told you about how Heritage Bank is buying First Caribbean Bank's assets, in what is called in a "first-of-its-kind consolidation."
But the downside is for the employees of First Caribbean, 60 of them who will be let got - and have no guarantee of getting a job with Heritage. But we're not there yet - all employees will remain fully employed until the sale is final, which could take until November.
Today, the Regional representatives from First Caribbean, who had flown in to handle the negotiations and dialog with the employees, returned to headquarters in Barbados.
Daniel Ortiz tried to speak with First Caribbean's CEO of Regional Operations, Rik Parkhill, , when he exited the bank on the way to the airport. As you can see here, Parkhill turned us down, and he made a bee line for the waiting transport. But his manager of Corporate Communications was more forthcoming and took our questions:
Anthony Blackman, Mgr. Corporate Communications - FCIB
"This is business as usual at the bank. As we said yesterday, we've notified all the relevant persons of respect to the regulatory approval. We've spoken to the union as well, we've informed our staff and we believe this morning its business as usual at the bank. That is as much as we can say at this time."
Daniel Ortiz
"Sir, did the bank handle this situation correctly with the employees? We've been told that you've just informed them as late as yesterday."
Anthony Blackman
"Like I said, it's as much as we able to say at this time. We've spoken to our employees and we are satisfied that we have handle the matter as appropriately as we could, given the circumstances and the complexity of the situation. We are not prepared to say anything more at this time."
Reporter
"What is the timeline for the transition from CIBC to Heritage Bank?"
Anthony Blackman
"The sale is subject to regulatory approval and so there can be no specific time line as such. It all dependent upon regulatory approval."
We understand that the executives of the Christian Worker's Union met with the employees of the bank up until this evening. President Audrey Matura-Shepherd told reporters that they employees will not be commenting at this time.
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