Cost-cutting measures due to restructuring in Bermuda and the Cayman Islands will result in the loss of 12 jobs held by Bermudians at Butterfield Bank.
According to the Bank, another ten jobs will be made redundant in the Cayman Islands.
The Bermuda jobs will be switched to the bank’s support services centre in Halifax, Nova Scotia.
The areas affected include the card fraud department, the middle office and call centre.
Employees were given advance notice of the positions being relocated in the months ahead, while the bank moves to find alternative jobs within the bank for the employees affected.
This is now the second round of redundancies at Butterfield Bank within the year.
Eleven people lost their jobs in April due to redundancies. More than 30 employees accepted early retirement packages whn Butterfield closed its Rosebank banking centre in the City of Hamilton.