Guyana Sugar Corporation plans layoffs to reduce financial burden

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Guyana Sugar Corporation (GuySuCo) is suffering from financial scarcity. According to the media report, failing to get financial assistance from the government, the Guyana Sugar Corporation is currently engaged in discussions to begin layoffs.

The Media report says, the caretaker president David Granger had promised the management of the GuySuCo of providing financial assistance to come over the financial crisis. Two weeks ago he had told media that the government will deposit money in the GuySuCo’s account.

According to the Stabroek News, the source said, “We have not received any money yet and our financial crisis continues to deepen.”

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