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The National Workers Union has described news that Scotiabank has planned to shut down 35 of its 200 branches in the Caribbean as very concerning.

The closure means that the jobs of 1500 employees would be terminated.

Speaking on the issue Deputy President General at the NWU Solace Mayers noted that the situation is very worrying particularly as the trade union organization braces for more job losses at another banking institution.

The merger of Royal Bank of Canada RBC and Royal Bank of Trinidad and Tobago RBTT will result in the termination of some forty employees once it is finalized.

Ms Mayers says the reduction in jobs has implications not only for the economy but for the people as well.

According to reports Scotiabank says the closure of the Caribbean branches were due to the prolonged economic recovery and continued uncertain outlook that exist in the region.

Ms Mayers agrees that policymakers still do not fully understand the position that the average business person faces daily as they attempt to survive the economic tide.

Despite the gloomy outlook, Ms Mayers says the National Workers has been able to record several gains both for their members as well as employers
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