Bank of Butterfield axes 25 jobs

The job losses came as part of a restructuring process forced by a decline in business in some areas.

A bank spokesman said: “We can confirm that a number of positions have been made redundant at the bank in Bermuda.

“They were in various areas and levels, and it has impacted both Bermudians and non-Bermudians.”

The job losses include positions in operations, marketing and communications, and consumer credit.

The spokesman added: “This has been based on a need to restructure — current business volumes in some areas require fewer employees.

“Customer services will not be impacted by the changes.”
Last year, the bank — which employs more than 730 people in Bermuda — shed 60 jobs in its overseas offices due to restructuring and a refocusing of business.