Spanish energy giant Repsol may be taken to the Industrial Court for unfair dismissal by former employees, who were retrenched following a decision by the parent company in October 2015 to lay off 1,500 workers—six per cent of its global workforce.
T&T Guardian understands that these workers are currently in discussions as to their next move with a representative from the Bankers Insurance and General Workers Union (BIGWU). Meanwhile, Repsol, on March 15, made partial payments on some of the workers’ severance packages.
Subsequent to a meeting with 11 workers, BIGWU’s Don Devenish and Repsol officials, it was agreed that Repsol would pay six weeks per year that each worker was employed with the company. Initially, the workers claim that instead of three month’s salary per year in severance payments, which is the industry standard, the retrenched workers were offered two and three weeks of salary a year.
In a January 21 statement to the media, Repsol said the dramatic collapse in oil prices started in July 2014 and it has been a tough time for the industry. Repsol says that the reality is that no oil and gas company is immune to low commodity prices.
“Our main focus is for safe and efficient operations while constantly reviewing our organisation needs that is best for our company,” Repsol said, adding that market conditions had worsened.