Over the weekend, The Guyana Telephone and Telegraph Company announced that it will be temporarily cutting salaries to ensure the company’s solvency in the face of the COVID-19 global pandemic. According to GT&T’s Chief Executive Officer, Justin Nedd the situation is already having a severe financial impact on the business. He said in a press statement,
“In a bid to ensure continued service provision and with an aim to retain staff for as long as possible, we had to make the tough call to collectively take salary cuts…This move was understood and agreed to by staff, the union and the Department of Labour and will be revisited at the end of May as the situation unfolds.”
The company says staff will receive their full salaries in April and 90% of their salaries for the remainder of 2020 for those at work. For those who were unable to be reassigned and will be at home, they receive 60% of the salary. Executives will take a larger percentage cut. However, the company did not disclose the number.
Over the past few weeks, GTT has taken several measures to support the call for social distancing. The company has closed its stores nationwide, encouraged customers to use their online bill pay options and reduced the number of staff working on site. Their field technicians working hours were reduced by 25% and hundreds of its staff are currently working from home.