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SMFC, NWU Finalize Negotiations

CLERICAL, technical and administrative employees of the St. Lucia Mortgage and Finance Company Limited (SMFC) will benefit from completed negotiations between the financial institution and the National Workers Union (NWU).

The new industrial package makes provision for an eight percent (8%) general wage increase spread over a three-year duration in the form of 4%, 2% and 2% in years 1, 2 and 3 respectively.

In the interest of continued good management and staff relationship, management has agreed to the payment of back pay and the implementation of other conditions in the contract.

The NWU is of the opinion that the new contract is a healthy document and is tailored to mirror NWU’s representation in the financial services sector currently represented by the organization.

 

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