The Communications Workers Trade Union (CWU) has once again stated is opposition to a move by British Company Cable and Wireless to acquire a larger stake in the Telecommunications Services of Trinidad and Tobago (TSTT).
According to media reports, Cable and Wireless Chief Executive Officer, Phil Bentley, wrote to Finance Minister, Larry Howai, identifying a number of projects which can be advanced in the next 6-12 months to demonstrate significant progress and benefits to the people of this country.
Minister Howai and Mr. Bentley met some days later on April 30
Finance Minister Howai is quoted as saying that the Government is open to handing over managerial control to the company once all stakeholders are comfortable.
Cable and Wireless is asking the T&T Government to place 2 percent of its shares in an employee trust.
If accepted the move will place both partners on an equal footing, withl each having a 49 percent stake in TSTT.
General Secretary of CWU, John Julien, said the company has not approached the union about placing any shares in a trust for employees, and the company’s utterance are misleading.
He said the minority shareholders will not have any say in the boardroom if the trust is set up.
Mr. Julien stated the Cable and Wireless broad who has control over the budget of TSTT is forcing the company to operate on a month to month basis.
The union is warning of massive job loses if this plan is carried out.