GTT to lay off 120 staffers over next 12 months as part of restructuring

"The six employees were drawn from multiple departments. All employees affected by the restructuring are receiving their full benefits and severance. In addition, the company is providing opportunities for these employees to receive training to prepare them for their new endeavours", GTT said in its statement.

GTT to lay off 120 staffers over next 12 months as part of restructuring

Local telecommunications company, GTT, today announced a major restructuring plan that will see 120 positions within the company being made redundant over the next 12 months.

The company currently has more than 700 persons in its employ.

In a statement, the company said the move is aimed at aligning the company with the new environment in which it provides services.

Today’s announcement of the restructuring move coincided with the separation of the first 6 employees under the restructuring programme.

“The six employees were drawn from multiple departments. All employees affected by the restructuring are receiving their full benefits and severance. In addition, the company is providing opportunities for these employees to receive training to prepare them for their new endeavours”, GTT said in its statement.

The company said the announcement was anticipated by employees who were briefed by the CEO, in several staff meetings and interactions held over past months.

Those meetings focused on the need to “right size the company to remain viable.”

In an internal memorandum to all employees today, Chief Executive Officer Justin Nedd was quoted as saying that “we are on the verge of really creating a company that is built for the future and we must position ourselves to ensure that everyone understands his or her role and is driven in the same direction.”

As the company maneuvers  its way through 2017, talent management is one of its top priorities  to ensure that the right employees are in the right roles.

According to the statement, “through improving Talent Management GTT expects to provide more training for employees, better tools and the leadership that would lead to improved productivity. The goal of Talent Management is to enable GTT to delight its customers and to grow revenue.”

The company intends to focus heavily on Customer Care care this year and believes that through restructuring, it will be able to meet and then exceed customers’ expectations.

The statement added that “the last of the 2017 priorities for GTT is completing negotiations with the Government of Guyana on a mutually beneficial agreement in the context of the liberalization of the telecommunications sector.”

“Liberalization will, for the first time in a long time, allow GTT the opportunity to operate on a playing field that is level. This means that for the first time it is likely that competitors in the same sector pay the same taxes and fees as GTT has over the last 26 years”, the statement added.

The Company’s CEO, Justin Nedd made it clear that “at the end, we will come out stronger as we shift from a technical centric organization to an organization that is focused on satisfying the customers’ needs and, eventually, consistently delighting our customers.”

Just recently Mr. Nedd announced several other initiatives that will be undertaken by the company in its efforts to offer improved service and reliability.  Next Monday, the company is expected to launch its improved DSL service in Essequibo and by June, 2017, the speed of the DSL service to the rest of the country is expected to be greatly improved.

GTT is currently in negotiations with the government as the stage is being set for the breaking up of its monopoly on voice and data services.

GTT’s restructuring announcement came just one day after its competition, Digicel, celebrated its 10th year in Guyana and waiting on the liberalization of the sector also.

 

 

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