…says despite $3.8B loss in 2020, it is committed to finding a solution
As workers of the Albion and Blairmont Estates protest with the support of the Guyana Agricultural Workers’ Union (GAWU) for increased wages, the Management of the Guyana Sugar Corporation (GuySuCo) has sought to clarify what it said are several inaccurate public statements that were made by the GAWU President.
The Sugar Corporations first explained that after August 2020, the executive organisational staffing at Head Office was increased by a net of two persons, not 30 as alleged by the Union’s President.
This is on the backdrop of a current employment freeze of senior staff at the Head Office until the Human Resource and Skills Audit process is completed. That Report is expected to be submitted by the end of June 2021.
Furthermore, GuySuCo said that it’s compensation package is govern by the Hays Job Evaluation Methodology and the Corporation has been unable to meet the recommended rates for the senior staff since 2013 (seven years), which means that the Corporation’s rates are below the average senior management salary rates in the public service and private sector.
“The current management acknowledge that it inherited in August 2020, a debt owed to the GAWU Credit Union and the Union for dues totalling G$113 million. Since then to now the Corporation, with the limited cash flows, has paid approximately G$140 million to the GAWU. The Corporation formally committed to the GAWU to pay a further G$2 million per week to clear the inherited debt,” the Corporation
It said too that GAWU is aware that in 2020, the Corporation made a loss of approximately G$3.8 billion.
In 2020, GuySuCo said that it spent 102 percent of its earned revenue to pay wages and salaries. This meant that without financial support from the Shareholders, the Corporation could not have met its wages bill. The information, it said, is also available to the GAWU.
The 2017 Independent Audited Financial Statement of GuySuCo, by way of the Vesting Order of December 30, 2017 called the GuySuCo (Transfer of Property) Order 45 of 2017 it was stated that “all moveable and immovable property of Wales, Skeldon, East Demerara and Rose Hall” were transferred to NICIL.
GuySuCo described the transaction as a “dysfunctional transaction” as the public document acknowledged that even with the transfer “the liabilities of the vested estates remained with the Corporation”.
GuySuCo said: “The Corporation remains firm in its commitment to collaborate with the Unions to bring a final resolution to the workers compensation issues. To that end, the Corporation invited the Union to a meeting on May 4, 2021.
“GuySuCo’ s management remains firm in its commitment to working with all stakeholders, especially the three Trade Unions in the industry, to build a resilient business with an empowered workforce in an environment that is healthy and safe for all.”
The Corporation said that it is desirous of arriving at an amicable solution acceptable to all Stakeholders. Nonetheless, GuySuCo encourages factual discourse to advance the cause of the 7,400 workers and Guyana.
