Petrotrin has start­ed its sev­er­ance pro­ce­dure for work­ers and is giv­ing oc­cu­pants of its Pointe-a-Pierre bun­ga­lows un­til Feb­ru­ary 2019 to va­cate the homes, al­though it gives No­vem­ber as the of­fi­cial end of busi­ness op­er­a­tions.

An in­ter­nal memo signed by ex­ec­u­tive di­rec­tor Reynold Ajod­has­ingh un­der yes­ter­day’s date out­lined the sev­er­ance pack­age by the com­pa­ny and was sent out to em­ploy­ees yes­ter­day, ad­vis­ing work­ers that the com­pa­ny will cease op­er­a­tions at the end of No­vem­ber.

The com­pa­ny said it would cal­cu­late the ter­mi­na­tion pay­ment util­is­ing the for­mu­la for cal­cu­lat­ing sev­er­ance pay as de­tailed in the Mem­o­ran­dum of Agree­ment for Na­tion­al Pe­tro­le­um staff for the pe­ri­od Jan­u­ary 2009 to Jan­u­ary 2012.

The memo point­ed out that the sev­er­ance ac­tion was be­ing ac­cel­er­at­ed “based on over­whelm­ing feed­back re­ceived dur­ing this week’s em­ploy­ee com­mu­ni­ca­tion ses­sion.”

Ac­cord­ing to the com­pa­ny, work­ers will re­ceive one month’s salary for the first five years of em­ploy­ment, one and a quar­ter months salary for the next 14 years and a fur­ther one and half month’s salary for any time af­ter that.

The com­pa­ny is al­so ad­vis­ing that in lieu of no­tice, work­ers could re­ceive one and a half month’s salary.

The work­ers were told that their cur­rent med­ical plan will con­tin­ue un­til the end of No­vem­ber and by De­cem­ber 1, 2018, the work­ers would be of­fered mem­ber­ship in a new med­ical plan. The com­pa­ny will al­so cov­er 100 per cent of the new in­sur­ance pre­mi­ums un­til 2020.

“Af­ter this pe­ri­od, should you wish to con­tin­ue med­ical in­sur­ance, you will be re­spon­si­ble to se­cure your own cov­er­age,” the memo stat­ed.

With re­gards to the pen­sion plan, the com­pa­ny said it would pro­vide the work­ers with a state­ment be­fore the end of the month.

“Your pen­sion en­ti­tle­ment will be paid in ac­cor­dance with the rules of the Petrotrin Em­ploy­ee Pen­sion Plan,” the com­pa­ny said.

Petrotrin al­so pro­vid­ed an up­date on the sav­ings plan em­ploy­ees have with the com­pa­ny but not­ed that all sums due to the work­ers would be sub­ject to statu­to­ry de­duc­tions.

“Please note that the com­pa­ny must await con­fir­ma­tion from the Board of In­land Rev­enue for ap­proval of any tax ex­emp­tions,” Petrotrin said.

“The com­pa­ny will pay to you your sav­ings plan bal­ance at No­vem­ber 30. You will be pro­vid­ed with a state­ment on or be­fore Oc­to­ber 31,” the com­pa­ny said.

The bun­ga­lows, lo­cat­ed on the Petrotrin com­pound, are usu­al­ly oc­cu­pied by vary­ing lev­els of man­age­ment, but those work­ers will now have to make arrange­ments to find new ac­com­mo­da­tion.

The work­ers have al­so been di­rect­ed to re­turn all com­pa­ny prop­er­ty to their sub­stan­tive se­niors by the end of No­vem­ber.