PRESS RELEASE – The Management of Barbay Limited and officials from the National Workers Union (NWU) have completed another industrial agreement.
The NWU agreed to freeze current fringe benefits in an effort to avoid an escalation in operational costs over a period of three (3) years.
The parties, however, agreed to an overall wage increase of seven percent (7%) – 2% in Year 1, 2% in Year 2 and 3 % in Year 3.
The NWU and the company agree to monitor events within the economic environment and to keep the cost of lost goods to zero.
The parties will meet shortly in the presence of the Labour Commissioner to affix signatures to the new industrial package.