NASSAU, Bahamas – November 17, 2017 – Thirty jobs lost in a layoff program of the Bank of the Bahamas as the institution is striving to make it on its own within the black, profiting instead of losing.
Media reports say the BOB explained the layoffs are related to closures of branches in Exuma, which will close by year end and Eight Mile Rock, Grand Bahama, which has already shut down the office there.
Though the decisions are called difficult, they are also called calculated or considered and are based on the pressure on BOB to cut costs. Government funded bail outs for the Bank of the Bahamas are to the tune of a staggering, $300m.
Interestingly, the layoffs follow a profitable quarter for the Bank’ it is said this is the first recorded profit since 2012.
