BRIDGETOWN, Barbados – STAFF LAYOFFS are looming at CIBC FirstCaribbean Bank in light of heavy expenses having to be set aside for bad loans.
The bank, which boasts branches in 17 Caribbean territories, is particularly concerned about its heavy loan loss provisioning in Barbados and The Bahamas, and has therefore undertaken a restructuring programme that could lead to layoffs, starting with voluntary separation packages in the next few weeks.
