THE EDITOR, Madam:
HOW CAN super-profitable firms like the Bank of Nova Scotia (BNS) continue to lay-off so many members of the workforce in the name of more profitability. Just who helped them gain these profits in the first place? Was it not these same workers who are now to be sacrificed at the feet of the god mega profit. Was not their thankless toil a contributing factor to Mr. Bill Clarke being able to declare super-profits to his adoring shareholders.
Do these shareholders know what is being done in their name to guarantee these profits?
Just when will profits be enough that business moguls can be satisfied. I know the patented reply is "Profits have to be maximised to ensure long-term viability."
But where in the Jamaican environment is this threat to BNS' long-term viability. Perhaps Mr. Clarke can tells us. BNS so dominates the banking sector in this country that no other bank even qualifies as second. They are in another race altogether.
I believe it is immoral what BNS is doing, and I truly hope that Jamaicans who would like to see justice done by all and not just by the State, would lift their voices against this wrong in such a loud crescendo that Mr. Clarke, worshipping in his 'Ivory Tower' of profit will hear and take heed.
I am, etc.,
C. McNAUGHTON
Walkerswood P.O.
St. Ann
