Boustead Beef to sell more than 200 Cold Storage Commission cattle tomorrow

A source at the CSC said he believed that the auction was aimed at raising money to pay retrenchment packages for workers that the company said it is laying off on behalf of the government.

A total of 140 workers are to be retrenched but 60 are said to have changed their minds after they realised that package was too little.

According to retrenchment packages which The Insider saw, a worker who had served the company for 41 years was to be paid a severance package of $17 466 at the end of June. This about US$210.

Another with 12 years’ service was to get only $4 968, about US$60.

A foreman with 20 years’ service was to get $21 480, about US$260.

The source said the company had only paid off 25 workers so far and was planning to pay another 25.

It is not clear why the retrenchment is continuing if the government is reviewing the agreement because the CSC could be losing critical institutional memory.

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