A PLAN to introduce new computing systems to improve efficiencies at Jamaica National Building Society (JNBS) will lead to job losses in the new year, according to general manager Earl Jarret.
Mr. Jarrett said the Society had implemented a new Phoenix Banking System in August of this year, which would have some impact on its back office staff but he was not prepared to put a figure on just how many jobs were to go.
Mr. Jarrett said: "I have heard media reports that we are making 80 people redundant next year, and I have no idea how that figure was arrived at. We currently employ approximately 500 people and an automated system will ultimately mean some jobs will go. You can't keep people who are not gainfully employed."
He added: "We have had a number of change management meetings with staff and have worked with the trade unions to phase in new practices. We are hoping to re-deploy some of our staff contingent."
Mr. Jarrett further added that JNBS's new Papine branch will fully employ the new banking system.
The Phoenix Banking System is expected to help usher in a new era of improved customer service, with faster transactions and shorter waiting periods as well as a larger number of customer representatives at branch locations to cater to customer needs.
JNBS made a net profit of $438 million for the financial year ended March 31, 2000 and doubled its stake in NEM Insurance Company to 96 per cent. It also formed another subsidiary, JN Micro Credit Company Limited, which took over the running of the micro finance programme, which was run by Workers Bank.
