Nine made redundant at Logic (Update)

The mood was ‘dire’ as employees one-by-one found out they had been let go at Logic.

In total nine people were informed this morning they have been made redundant after the merger of Logic and North Rock in April.

The employees’ last day of work is today.

One employee told the Bermuda Sun said after the amalgamation was announced staff would have been “naïve” not to realize that redundancies were about to happen.

He added: “A lot of them were not that prepared. I feel for Bermudians who have families and they have to provide for those for families. Those are the people you have to be concerned about.”

He added that it was a mixture of both Bermudians and guest workers who were made redundant.

The employee told us the mood in the office “was dire. When you work with people for a long time, it bridges beyond being a peer, you’ve become friends. Everybody was concerned.

“Some took it quite hard. People are quite stressed right now in terms of what’s going to happen next.

The employee said: “There will be more (redundancies) to come… we’re in a no-growth market so the only way to become more profitable is through operational efficiency.”

“At the end of the day it was a management decision as to what they feel will benefit their shareholders.

 “North Rock was a great company. The management was great and they cared about their employees. KeyTech and BTC have a completely different mandate. That’s just the business world. 

A press release stated: “As a result of the merger of Logic and North Rock, the companies today announce that they are going to trade collectively as Logic.

“Also as a result of the merger and resulting duplication of positions, nine people were today made redundant, four of whom are non-Bermudian.”

Vicki Coelho, CEO, Logic, said: “We have made the difficult decision to make nine people redundant today. We would like to thank each of our departing employees and wish them well in their future endeavours.”

Also, as a result of the merger, the Logic store at 30 Victoria Street will close today and customers will be serviced from the Washington Mall store. The new opening hours, effective Monday, will be 8:30am — 5pm Monday to Friday and 9:30am — 5pm on Saturdays.

The release said the off-island Logic helpdesk will be brought back on Island over the next three months, which will create three new jobs.