NASSAU — Bahamas Power and Light (BPL) will pay out $70 million to 314 employees who accepted the corporation’s voluntary separation packages (VSEP), Minister of Public Works Desmond Bannister revealed in the House of Assembly yesterday.
BPL announced the VSEP exercise in May with officials stating that any of BPL’s 1,038 employees could apply.
Bannister said separation dates were staggered to ensure that the company’s “efficiency is not negatively impacted”.
According to Bannister, BPL paid out $56 million to 219 employees as of June 30. He said 95 employees approved for VSEPs remain at BPL, stating that eight will leave in July; four will leave in August; nine will leave in September; four will leave in October; seven in November; 39 in December; one in March 2019; 12 in June 2019; four in December 2019; and seven in June 2020. https://thenassauguardian.com/2018/07/19/70-mil-for-bpl%e2%80%88vseps/
