The BAC Group of Companies has confirmed that 19 staff have been laid off in the weeks leading up to the Christmas holidays and Jason Hayward, the Minister of Economy and Labour, is now making inquiries.

The confirmation of the layoffs came through a statement to TNN made by Denton Williams, the group chief executive.

When contacted about the news last night by The Royal Gazette, the minister said that he had no official notice of the action and would have to determine the particulars before making any comment.

He said: “It is important that I get clarity on what actually transpired so that I can properly advise what any potential government support might possibly be.”

The news comes on the heels of his ministerial statement to Parliament on Friday that suggested the implementation of government initiatives “has contributed to greater levels of economic activity and the expansion of Bermuda’s economy”.

The speech outlined a number of initiatives of the Economic Recovery Plan, promising “a clear path to growth, employment and more significant economic development”.

Mr Hayward said that work has already contributed to greater levels of economic activity and the expansion of the economy.

Meanwhile, the BAC Group statement said: “BAC Group can confirm that the prolonged stagnation of Bermuda’s economy has led to staff layoffs at the group.

“The decision to lay people off was difficult and we extend our deep gratitude to those affected for their contributions.

“We will remain focused on navigating these challenging times while continuing to diligently serve our customers.”

The TNN report, which has been unconfirmed by The Royal Gazette, says that the staff were laid off with just one week’s salary and have been given no guarantees as to when or if they will be reinstated.

Mr Hayward’s speech on Friday contained much positive news for Bermuda’s economy, which had been battered by a downturn and persistent unemployment even before the global pandemic.

He said: “Regarding the Economic Recovery Plan’s employment-related actions, the success, especially that experienced by Bermuda's young people, has been impressive.

“The Department of Workforce Development has created several training opportunities for Bermuda’s young people. This year, young Bermudians have taken advantage of asphalt training, solar panel construction and installation and several international business and local company employee internship programmes. These training opportunities directly lead to employment opportunities.”

He told legislators: “If one wonders how successful the Economic Recovery Plan has been, plenty of stakeholders from various interests and work areas can attest to its impact on themselves and our economy.”

He said: “The Economic Recovery Plan is paying, and will continue to pay, dividends to Bermuda.

“Almost two thirds of the 30 initiatives are actively engaged in the desired level of economic activity. Many of the initiatives will remain ongoing, while some, like the Covid relief programme, will fall away.

“The plan focuses on creating a thriving environment for the creation of jobs. These jobs will directly impact population numbers, and this population will generate the economic activity that our economy needs.”