Regional insurance giant Sagicor has announced jobs cuts in St Lucia.
Sagicor broke the news in a statement Monday morning (Feb 10) saying the company will be undergoing a reconstructing exercise. Employees in Barbados, where Sagicor is headquartered, may also be affected.
The restructuring exercise is in keeping with the company’s ongoing efforts to improve customer experience and deliver superior value in an ultra-competitive market. Sagicor President and CEO Keston Howell said the decision was taken after a strategic review of the company’s operations.
Referring directly to those staff to be axed, Howell said in his statement, “We sincerely value the contributions of our team and will ensure that the affected team members receive the necessary guidance and support to assist them through this process.” He explained that the restructuring process was in response to an “ultra-competitive market”.
The Sagicor boss added, “The company is focused on the delivery of exceptional service to its clients and is continuously reviewing operations to improve efficiencies.”
Sagicor is one of the longest standing general insurance companies in the Caribbean, with operations in Jamaica Antigua, Bahamas, Barbados, Dominica, St Lucia and Trinidad and Tobago. Sagicor offers auto, home, travel and business insurance protection.