The Caymans subsidiary of Bermuda telecoms firm KeyTech has made at least a dozen people redundant from a recently-bought cable company.

KeyTech’s Logic took over rival cable firm WestStar only last week, selling off BTC in Bermuda to a group of investors to help finance the deal.

Senior managers at the cable company were among those laid off.

But KeyTech CEO Lloyd Fray said job losses were not on the cards for the Bermuda end of the operation.

Mr Fray said: “We don’t anticipate making any redundancies in Bermuda.”

A spokeswoman for KeyTech said the two Cayman firms would continue to operate under their separate brand names “for the time being”.

The spokeswoman told the Cayman Compass on Monday: “We plan to make a number of redundancies at WestStar over the next seven days.

“We will continue to assess the businesses after that time to ensure that we are operating as efficiently as possible.”

Logic plans to use the combined business to dominate the market, using its “fibre to home” network and WestStar’s customer base and offering high speed broadband and internet-based TV.

The spokeswoman added: “Logic and WestStar combined as one entity can achieve far more than either company separately.

“Investment capital will be available to complete the fibre to home network, creating value to Logic, our customers and the Cayman Islands.”

BTC was sold to Barrie Holdings for $30 million last month — a price below book value.

The KeyTech Cayman purchase was financed through a mixture of debt and equity, with KeyTech taking on nearly $70 million in debt and issuing more than 2.4 million shares to British Overseas Territory Cable & Telecommunications (BOTCAT), the owners of WestStar, which also holds a stake in Bermuda’s CableVision.

The deal meant that KeyTech got a controlling interest in CableVision and owns WestStar outright, which makes the firm the biggest provider of subscription TV in the Caymans.