A number of employees working at the Bahamas Oil Refining Company (BORCO) will be affected after the company announced some reorganisation to its structure.
According to BORCO’s management team, the move has come about following changes to the market. It is thought restructuring the company will help it meet the new market needs.
Those who have been affected by the restructuring of BORCO received retirement and severance packages.
A press release issued by the company said: ‘We are investing more than ever in our employees’ development through our newly established technical training programmes, team development training, customer service training and leadership training.’
And while BORCO may be making some of its staff redundant, it says that its various ongoing construction projects are providing construction jobs for around 340 locals. This is in addition to some 174 jobs that have been created in terminal operations.
BORCO also goes on to say that it anticipates hiring technical and operational workers in 2012.