Baha Mar Employees Laid Off As Stalemate Continues
Photo courtesy of Baha Mar
Stalled Bahamas mega-resort Baha Mar laid off 2,000 employees effective Oct. 23 after the country’s Supreme Court granted joint provisional liquidators KRyS Global and AlixPartners approval to release the workers Thursday.
The layoffs, made due to the resort’s financial insolvency, affect about 1,440 non-active employees and 580 active employees and include members of management and line staff according to a statement from the liquidators. The $3.5 billion resort project has been stalled since June 29.
“Though today’s layoffs are difficult on everyone, it further highlights the urgency for everyone to remain at the negotiating table and maintain the dialogue that may lead to a resolution, a re-start of construction and the completion of the Baha Mar project,” said Edmund Rahming, KRyS Global’s managing director.
Staff members were advised of their status via individual email messages as well as communication from supervisors. Information was also posted on the joint provisional liquidators’ website.
“We were paying housekeeping staff when there was no housekeeping to do, spa staff when there was no spa, casino staff when there was no casino to operate,” said Alastair Beveridge of AlixPartners.
“Thanks to monies that were made available to us by the government from funds that were due to Baha Mar for road construction works, we were able to keep these staff members on as long as we did,” said Beveridge. “We know that they have obligations, that many of them gave up other jobs to join the Baha Mar dream team and now we are continuing to focus on how best to make that dream a reality.”
Management and staff made redundant are being offered job placement assistance, according to the statement. Some staff members were retained to provide assistance in “job skills development and life skills.” Employment workshops scheduled to be provided between Oct. 29 and 31.
The actions did not affect the Melia Nassau Beach Resort, the lone operating property within the Baha Mar complex. The Supreme Court appointed the provisional liquidators in September to protect the resort’s assets through Nov. 2, when the Court is scheduled to rule on a “winding down” petition that will determine the development’s fate.
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