Butterfield Bank is moving 22 jobs from Bermuda and Cayman to its support centre in Halifax, Canada, as part of a restructuring exercise to cut costs.
The move affects 10 positions in Cayman and 12 jobs in Bermuda in the bank's card fraud department, middle office and call centre. Butterfield employees in Bermuda "were given advance notice that their positions will be moved in the coming months" and "Butterfield is working to find alternative roles within the Bank for impacted employees," a spokesperson said.
Nine of the 10 positions affected in Cayman are held by Caymanians. As one of Cayman's largest employers, with 94% of local jobs held by Caymanians, the spokesperson said, the impact of any restructuring tends to reflect this proportionality.
It is the second round of job losses this year at the bank in Bermuda. In April, Butterfield made 11 positions redundant and more than 30 accepted early retirement packages, the Bermuda Gazette reported.
At the same time, Butterfield announced the closure of its Rosebank banking centre and drive-through teller services in Hamilton.
The announcement was made public earlier this week but the bank said it had given advance notice to employees about the restructuring and redundancies.