Representatives of the Steel Workers Union yesterday met with officials at Republic Bank to discuss the status of the former ArcelorMittal workers’ pension plan. Republic Bank is the trustee of the pension plan.
President of the union, Christopher Henry, claimed victory after his hour-long meeting with bank officials at its Park Street, Port-of-Spain, head office yesterday.
Several ex-workers staged a noisy protest outside the bank while the union officials were invited into the meeting, via a private entrance, for talks. Henry said the union will meet with the bank again on Thursday to have all its concerns answered. Some 644 workers were retrenched by the steel manufacturing company after it closed its operations in February citing poor sales and mounting debt.
According to Henry, the bank officials were told that it was treating the sacked workers "with scant courtesy as they (steel workers) have over $1 billion in this bank (pension plan)."
Following the meeting, Henry met with leaders of the Joint Trade Union Movement (JTUM ) and the National Trade Union Centre (Natuc) to discuss further measures to have the matter resolved.
The workers were expected to take their protest outside the Hasley Crawford Stadium for yesterday’s Fifa World Cup qualifying match between the Soca Warriors and St Vincent and the Grenadines. The ex-workers were wearing the red union jerseys in support of the T&T team and were joined by other retrenched workers from Tube City Ltd and Centrin.
Henry said the Government should consider an investment opportunity for the plant at Point Lisas to resume operations to ensure the workers will return to their jobs.
Finance Minister Colm Imbert has said the Government had no intention of buying the plant as it would have to compete with cheap Chinese steel flooding the market and a $3 billion debt incurred by the company.
Henry said the union will attend the April 5 creditors’ meeting called by ArcelorMittal at the Queen’s Park Oval, Port-of-Spain.
The workers were sent home one day after they won a matter against the company in the Industrial Court.