The Financial Gleaner of Friday, March 27, had on its front page an article on the fact that Sagicor Jamaica was set to cut 75 jobs, although it made record profits the previous year and was set to improve that position this year.

One wonders if many of these Jamaican companies which are cutting staff in order to improve their profitability are cognisant that during the times of recession, no one would blame them if they didn't make double-digit increases in profits over previous years. It just seems irrational to me that the executives of some large multimillion-dollar profit entities expect their companies to continue growing in bad times and will in fact cut staff expenses to ensure that this happens.

These actions are counterproductive, as the more unemployed persons there are, the longer the recession will last, and fewer people will have funds to buy the goods and services produced by these same major corporations.

Refreshing

Not making the front page, however, is a refreshing article by Huntley Medley in which he featured Donovan Perkins of Pan Caribbean (85 per cent owned by Sagicor). Perkins is quoted as saying: "This record of growing profits every year is important but at the same time, if your profits have to retreat, then we are prepared to live with that." Now, isn't it refreshing to know that there seems to be at least one top executive who is aware that having experienced eight straight years of growth he can live with himself and be comfortable in kno-wing that things might not be the same this year?

Growth in business is great and should always be pursued, but not at the expense of the nation. We are all being called on to cut back, but it seems the only thing some companies are willing to cut back on is staff, rather than the high levels of profits they expect to earn year after year.

I am, etc.,

OLIVER TOMLINSON

revilo.nosnilmot@hotmail.com

Kingston 8