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Bahamas: Lucayan’s 150 Staff Exits To Cost $2-$3m

The Grand Lucayan’s chairman yesterday estimated it will cost the Government between $2-$3m to finance the voluntary departures of 150 workers seeking to leave the resort.

Michael Scott, pictured, in a statement issued yesterday, confirmed that the Government’s newly-acquired resort is on track to to reduce its workforce by one-third after 60 management staff, and 90 line employees and casual workers, volunteered to accept severance packages.

He added that this would slash the workforce from more than 450 to around 303, describing the latter number as “more closely aligning” with the demands of the 196-room Lighthouse Pointe property – the only one of the three Grand Lucayan hotels that is currently open. The separations will start towards the end of this month or the beginning of November.

Mr Scott, who chairs Lucayan Renewal Holdings, the Government-owned special purpose vehicle (SPV) that controls the resort until a buyer is found, told Tribune Business that he and the board were “crunching the numbers” to ensure figures supplied by the two trade unions representing its workforce matched their own.

Promising that the Grand Lucayan will “follow the law” on both the sums paid out and structure of the voluntary separation packages (VSEPs), he added that “misconceived claims” will not be entertained given that “public money” – meaning the Public Treasury and Bahamian taxpayers – will finance the payouts.

“If people wanted to leave we weren’t going to stand in their way,” the Lucayan Renewal Holdings chairman told this newspaper. “We expected there would be some realignment and readjustment, and that’s OK with us as we want to run it as efficiently and cost effectively as we can.”

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