Comments on: BCR to eliminate 250 staff as earnings plummet

By: Karen Mata

Karen Mata — Mon, 09 Nov 2015 23:10:00 +0000

Spot on Blam. I arrived CR in 91, and Laura was the limit for me. 20 years. Still waiting on my gold watch.

One word, (not plastics a la the graduate) but Panama.

By: Blamminski

Blamminski — Mon, 09 Nov 2015 22:19:00 +0000

Ummmmm. Panama isn’t run by Ticos. That’s a hUGE difference.CR is OVER.

By: Karen Mata

Karen Mata — Mon, 26 Oct 2015 16:28:00 +0000

Panama’s growth stated via their government bond ratings

Solid Investment Grade

CR’s

Moody’s has changed the gov bond rating outlook for CR from stable to negative (sept 2014)

By: Timothy Williams

Timothy Williams — Mon, 26 Oct 2015 16:03:00 +0000

Indeed. In fact, the bank even stated itself in a financial statement that the “average” base salary of these unnecessary and/or redundant employees set to be eliminated was 2.5 million colones per month, not including aguinaldo, mandatory benefits, employer pension contributions, etc. so I would venture to guess that their savings estimate was based just on actual payroll savings, and their overall savings will actually be higher.

By: Larry Worsham

Larry Worsham — Mon, 26 Oct 2015 15:57:00 +0000

Did no one else notice the obvious thing in this story? If they are going to save $16.8 million dollars by laying off 250 employees then they are saving $67,200 per employee. Even with all the required benefits I find that excessive.

By: turbooperator

turbooperator — Sun, 25 Oct 2015 19:00:00 +0000

as does Costa Rica…see ICR 10-Oct

http://insidecostarica.com/2015/10/13/costa-ricas-largest-shopping-mall-open-november-11th-creating-thousands-new-jobs/

By: Ken Morris

Ken Morris — Sun, 25 Oct 2015 03:45:00 +0000

Good to know. Thanks.

By: Yeims

Yeims — Sat, 24 Oct 2015 13:16:00 +0000

The thing about ScotiaBank is that at least according to my experience with them, is that almost anyone can put an embargo on your account and lock you out of your money, something that isn’t very funny. I had a contested bill with ICE (less than 10,000 colones), and in the process of resolving the problem, they went ahead and froze my account which forced me to pay lawyers then to have the embargo removed. The national banks, BCR and BN, do not accept such embargos.

By: Ken Morris

Ken Morris — Sat, 24 Oct 2015 00:48:00 +0000

Interesting addition.

By: costarick

costarick — Fri, 23 Oct 2015 14:39:00 +0000

The Banco Nacional employees’ union took a different approach, agreeing to a wages and benefits roll-back a few weeks ago. The BCR employees’ union refused to do likewise. I wonder if the result would have been the same if the BCR employees’ union had agreed to such a roll-back as well? I haven’t heard of BN making any similar drastic employee cuts. It would appear that the BN employees’ union is the more responsible Public Sector Union in the Country at the moment, given the current economic circumstances.