Seprod Layoffs Jamaica Hit 141 Workers Over Sugar Tax and Sales
The Seprod layoffs Jamaica is debating cover 141 factory workers for three weeks, with the company citing a new sugar tax and falling sales. The post Seprod Layoffs Jamaica Hit 141 Workers Over Sugar Tax and Sales appeared first on The Rio Times .
Seprod, a major manufacturer and distributor in Jamaica, announced the temporary layoff of 141 workers at a single factory this week. The company cited a new tax on sugar in drinks and weak sales as the reasons for the layoffs. Seprod is one of the island's largest manufacturers, with a presence in manufacturing, distribution, and export.
The tax, which was initially volumetric and then revised to be based on sugar content, is expected to raise J$10.1 billion (approximately US$64.4 million) for the fiscal year. The layoffs are set to last for three weeks and are applied on a rotation basis. Chief executive Richard Pandohie confirmed the move but emphasized that it is temporary and not a redundancy.
The tax has been met with mixed reactions, with some arguing that it is a necessary measure to promote public health, while others claim it disproportionately affects low-income individuals. The company's CEO, Richard Pandohie, acknowledged the decline in sales and inventory build-up as contributing factors to the decision.
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