ALL eyes will once again be on the Pine today as the management of the Caribbean Broadcasting Corporation (CBC) meets with workers’ representatives the Barbados Workers’ Union (BWU) to discuss the payment of increments to staff.
Both sides have agreed to meet again at the CBC in an effort to bridge “outstanding differences” after a seven day protest by members of staff.
Today’s meeting follows deliberations on Wednesday which went on for ten hours after which CBC General Manager, Doug Hoyte in a statement, said an agreement was reached with the union for the payment of four increments, but there was a “genuine misunderstanding on the Corporation’s part about the terms and conditions of payment”.
Hoyte issued an apology to the members of the BWU saying that the, “CBC deeply regrets that there was a cessation of work late last week, but is pleased that both sides are working towards a full resolution.”
Last weekend, Hoyte painted a grim picture of the finances of the state-owned television station which is faced with significant debt and a declining revenue base.
He explained that as of August 31, 2017 the accumulated deficit stood at $124 972 000. Revenue to date stands at $16 million, while the net loss is 3.7 million. “We are down approximately two million when compared to last year at this time between April and August.”
Hoyte explained that the big-ticket earner, MCTV has been hard-hit by competitive forces which have substantially eroded its profitability. Comparing 2017 to 2016 he said advertising revenue has seen a dip of $600 000. The general manager says since he joined the corporation in April last year, MCTV subscribers have dipped from 27 000 to 19 000.