Organisational Changes at Lynk
24 Aug 2023
Kingston, Jamaica – August 24, 2023: NCB Financial Group Limited (NCBFG) confirms that we have undertaken several adjustments to our subsidiary, TFOB (2021) Limited to bolster operational efficiency and improve customer engagement for the platform Lynk. This aligns with our emphasis on Efficiency, Governance, and Customer Experience (EGCE), recently highlighted by Interim Group CEO Robert Almeida, and Chairman the Honourable Michael Lee-Chin, OJ, during our Q3 Investor Briefing.
The adjustments will affect less than 2% of the total workforce across the Group. Throughout this transition, we remain committed to minimising disruption and supporting our team members as they navigate these changes. While the current measures involve difficult decisions, our overarching vision is to expand the reach of Lynk, which is currently in growth mode, through increased usage and adoption. Anchored by NCB's robust presence in Jamaica and across the Caribbean, we are setting the stage for an ambitious and positive trajectory for Lynk.
In addition to these staff adjustments, our restructuring includes a thoughtful assessment of our contractor engagements. Decisions are being made on an individual basis, with an emphasis on aligning our resources with our overarching strategic vision. In certain instances, we are centralising supplier management across the Group, a move that we believe will lead to greater operational efficiency.
Our intent and expectation is that these changes will result in a positive impact on our operations. As outlined at our recent Q3 Investor Briefing, we are executing strategies to reduce our Cost to Income ratio as part of the pathway to resuming dividends. As these changes are still being implemented, we are unable to provide specific figures at this time.
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