Officials RBC Royal Bank remained tight-lipped yesterday about how many workers have been offered VSEP and voluntary early retirement packages by the bank.
In confirming the moves to reduce staff on Thursday, RBC officials had said the changes being made are in keeping with the bank's strategic plan, which also includes merging the operations at its Chaguaramas and Westmoorings branches, Carlton Centre with the High Street, San Fernando branch and consolidating operations at Point Lisas with the Couva branch.
Some customers are already expressing concern about the planned changes. Several business owners at the Carlton Centre Shopping Complex said the branch located there brings customers to their stores. Susan Bissessar, who operates a clothing shop near the bank, said it is convenient to do transactions at the bank.
"Whenever we need petty cash, we can go right over. This bank caters for a lot of people and we are surprised that it will now be relocated," she said.
RBC customer Jaahad Duprey said businesses will face even more hardships once the bank closes its doors.
"Lots of people come here to do business and it will be inconvenient for people to use the other branches," he said.
Bank officials declined to comment saying they were not authorised to speak. A source said, however, that VIP bank customers will have to do business in Gulf City as those services are not available at the High Street branch. VIP customer Robert Crichlow said he was very unhappy with the move.
"I am accustomed to Carlton Centre and now I will have to face the chaos in Gulf City because the VIP has gone to that location. I do not understand this move because it is going to impact negatively on the workers," Crichlow said.
A source said there are more than 30 employees at RBC's High Street branch some of whom have been offered VSEP.
In response to questions from the T&T Guardian, Republic Bank Limited (RBL) managing director Nigel Baptiste said there are no plans to retrench workers. He said the bank's focus in a challenging economic environment will continue to be on efficiency and service.
In emailed responses, Baptiste assured that RBL's future "is intertwined with the economy so we will do our best to contribute to its early recovery through support of business with growth potential, guidance to businesses that need restructuring, focus on expanding the range of alternative channels available to all and self-improvement."
He said in a recession companies need to ensure there is communication with stakeholders, including employees, about their strategic plans for the future.
Baptiste added: "There is a need for shared responsibility and mutual respect in finding solutions to the various challenges that confront us. The economy has survived previous recessions and if we work together, we will all survive this one as well."
Approached for comment, the Bankers' Association of T&T said it is "not privy to the individual banks' internal matters and as such, we do not comment on their internal matters. Any specific internal issue relating to any particular bank should be directed to its respective communications department."
Vincent Cabrera, president of the Banking, Insurance and General Workers Union said the union does not have legal status to represent workers at RBC. He said for five years the union has been waiting on approval to be a recognised union.
"The bank, over the last five years, has reduced the workforce by over 1000 workers and they are attempting now to do that again," he said.
Cabrera said due to retrenchment trends in the economy, the union would be making a statement on the matter shortly.