January 30, 2013 at 5:54 p.m.
Bermuda Motors announces layoffs
The job cuts affect the areas of Spare Parts and Sales, the company announced today.
The redundancies come as car dealerships face a significant decline in trade across the island.
A company statement said: “The decision comes as part of the continued review of the Bermuda Motors business model, changes in the current economic environment and overall trends and best practices in the global automotive industry.
“Car sales in Bermuda have gradually declined over the past few years from approximately 2,000 annually to 1,600, with some projections showing as little as 1,000 cars sold in 2011.
“Bermuda Motors like many other international and local businesses are being forced to make some difficult decisions in order to sustain a healthy business in Bermuda.”
Bermuda Motors will continue to employ 50 members of staff.
Michael Butler, general manager for Bermuda Motors, said: “Making these kinds of decisions is always difficult. Our philosophy has always been to be open and transparent with our employees.
“We have been in dialogue with the team for quite some time about the business, the economic environment and the potential for restructuring.
“Bermuda Motors is committed to being in business in Bermuda. We still see great hope for the continued evolution of our company by offering consumers the right products, at the right price with the best service.”
Comments:
You must login to comment.