BITU takes issue with ScotiaGroup CEO’s unemployment comments

The Bustamante Industrial Trade Union (BITU) has taken issue with the statement made by the ScotiaGroup CEO on Thursday that as part of reducing interest rates and fees, costs will have to be cut which could result in some job losses.

President General of the Bustamante Industrial Trade Union Kavan Gayle said unions are willing to work with the banks to save costs, without job cuts.   

Mr. Gayle said while he understands the impact of bank charges and interest rates on customers; customers should understand that banks cannot get away from some of the charges since they represent partial cost recovery.

He however urged the banks to make the charges more "palatable" for customers by driving cost efficiencies.