Barbadian former workers of the Antigua-based LIAT (1974) Limited have begun to receive the final part of their $10 million severance payout, winding up one of the longest waits ever for a state-owned enterprise to compensate former workers.
Barbados TODAY confirmed on Monday that the government has started honouring the bond component of the payout after the cash element was disbursed in July last year.
Prime Minister Mia Mottley had promised just over a year ago that the administration would pay all 89 eligible Barbadian workers up to $75,000 each in cash according to their calculated severance liability and that any payment over $75,000 would be paid in bonds.
The latest cash payment cost just over $4 million, while the price tag for the bonds has been put at a little under $6 million.
With the former workers having been paid the cash portion last July, the first disbursement from the bonds has now been made and will continue for another 41 consecutive months.
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