-following pact with union
A Memorandum of Agreement (MoA) has been signed between Banks DIH Limited and the General Workers’ Union (GWU) which will see workers receiving a 25% increase in wages over three years along with enhanced benefits.
A release from Banks DIH said that the signing was chaired by Chief Labour Officer, Dhaneshwar Deonarine in the presence of GWU officials including, President, Norris Witter; General Secretary, Pancham Singh; Branch Chairman, Quincy Bailey; Branch Secretary, Lawrence Drakes; Field Officer, Colin Miller; Branch Committee Member, Dennis Glasgow; and Shop Steward, Nunyam Haynes.
Banks DIH was represented by Finance Director, Deonarain Seepaul, and HR Chief Executive/General Counsel, Kavorn Kyte-Williams.
In his brief remarks at the ceremony, GWU president highlighted what he said was the smooth and non-adversarial nature of the negotiations which were completed in five days over 30 working hours.
The Finance Director called the agreement a “significant milestone” which was indicative of the company’s commitment to job security, medical benefits, life insurance, and retirement benefits. He noted that negotiations culminated in a 25 per cent wage increase and enhanced benefits over three years. He also emphasised the importance of sustainability for shareholders, employees, suppliers, and customers.
And the Chief Labour Officer recommended the negotiations as a model for other companies, praising the willingness of both parties to engage constructively, the release added.
The pact was signed at the Ministry of Labour in Georgetown.
