|Listen to Live Jamaican Radio, Listen to Power 106 FM 24x7. Click Here to Listen Free | (Advertisement)|
UDC job cuts coming
2013-02-20 12:19:34 | (0 Comments)
The Deputy General Manager of the Urban Development Corporation (UDC), Donald Hamilton has indicated that there will be significant jobs cuts at the entity.
He was responding to questions from members of Parliament’s Public Administration and Appropriations Committee (PAAC), this morning.
His comments came against the background of a number of cost cutting measures that the UDC is moving to implement to curtail losses being racked up by the public body.
Hamilton told the committee that the UDC had cut its losses by more than $200 million in the last 10 months.
In the meantime, General manager of the UDC, Desmond Malcolm told the PAAC that the company mandated to market the Montego Bay Convention Centre has failed miserably in carrying out its marketing duties.
A seven-year contract, valued at US$2.4 million was entered into with SMG Worldwide Entertainment and Convention Venue Management company in July 2011.
However Malcolm had described the contract as flawed.
He claimed that under the term of the contract, SMG would get 40 per cent of profits that are earned by the Montego bay Convention Centre while there are no performance sanctions.
He explains that if the company, through its marketing efforts, does not yield any earnings there is no provision in the contract to void the agreement.
FOR MORE STORIES WATCH:
Like our new Facebook page http://www.facebook.com/gleanerjamaica
Follow us on Twitter
Source: The Gleaner/Power 106 News
The opinions on this page do not necessarily reflect the views of The Gleaner. The Gleaner reserves the right not to publish comments that may be deemed libelous, derogatory or indecent. To respond to The Gleaner please use the feedback form.
Go- Jamaica: Home | Business Directory | Jobsmart | Chat | Gallery | Videos | Events