Jamaica could lose 300 Red Stripe export jobs
WITH Red Stripe already considering relocating its export business away from Jamaica, the company says that its decision could be forced should government not ‘level the playing field’ over what it complains are unfair taxation policies favouring the production of spirits.
About 300 jobs are under threat should the export business relocate from Jamaica. The company has suffered a decline in domestic demand of 2.5 million cases annually and currently produces 5.25 million cases for the local market and 3.5 million for export. Profits fell 49 per cent during the financial year ending June 30.Related story:Red Stripe calls for level taxation playing field
“If we continue to decline and we can’t turn around and reduce costs and margin per case then the discussions have been had for the past year do we move exports abroad and those discussions are very real. They were being had even before the tax,” a senior Red Stripe executive told the Observer.
