TeleBermuda International has made five staff redundant in an organisational shake-up.

The company — local “Class-A” carrier of international long-distance voice, internet and IPTV services — is to shed five Bermuda-based jobs in an effort to stay competitive.

Confirming the redundancies last night, a TBi spokesman said the cuts would “streamline operations and position the company for future growth”.

The spokesman added: “In response to Bermuda’s evolving technology needs and to ensure the company's continued competitiveness, TBi has made the difficult decision to reduce its workforce.

“This decision was not made lightly and comes after careful consideration of all other alternatives.

“The company is grateful to all its employees for their dedication and hard work and is committed to supporting those affected during this transition.

“Five employees were included in the lay-off, and TBi ownership will meet all of its requirements for compliance with the Bermuda Employment Act.”

The spokesman did not say what positions had been cut or if they had been outsourced to another jurisdiction.

Nick Faries, TBi’s interim managing director, expressed sympathy for those who had lost their jobs.

He said: “We understand the gravity of these decisions and their impact on our employees and stakeholders.”

He added that the changes “are designed to retain the core team and support the launch of new services in 2024”.

“We want to ensure the company remains a trusted service provider and employer in the Bermuda technology industry,” he said.

Mr Faries said that the TBI ownership was optimistic about the future and believed the changes were necessary “to solidify its foundation and prepare for growth in new areas”.

He said: “The company’s primary focus is on the continual delivery of top-tier services to its clients and partners.

Last year, TBi bought out World on Wireless, a provider of high-definition television subscription services.