Exit payments to reach Petrotrin workers’ accounts by today
Former workers of Petrotrin should receive all of their outstanding payments in their accounts today.
The exit payments to the 3400 former permanent employees with the State-owned oil company amounted to an “unprecedented” $2.7 billion.
Payments including termination benefits, outstanding vacation, backpay, outstanding promotions and benefits and other payments were disbursed on Friday, but, due to the size of the sums to be paid, it took a longer period than anticipated to process.
The payments comprised $1.8 billion in termination packages; $201 million for outstanding vacation; $560 million in backpay; $150 million for medical and other benefits; and $55 million in payments for outstanding promotions.
Petrotrin on Saturday said the transfers should be completed by today when all workers should have funds in their accounts.
All 3,400 permanent employees received exit payments and 1,229 (55 percent) of the Company’s temporary workers received ex-gratia payments.
But, the former employees are yet to receive their payslips and statements detailing the payments made to them.
The Payroll Department is charged with disbursing these, however, with the current suspension of access to non-essential personnel to the compound following alleged acts of sabotage on Friday, the ex-Petrotrin workers say they don’t know who to go to or where to collect them.
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