All employees of the company P.H. Veira & Co. Ltd have been informed that their employment with the company no longer exists. They learned of this via a memo sent out to employees from Management.
In the memo that was sent out it was stated that the company will be ‘making some strategic changes to the operating model of our company’, effective November 14th 2022.
The company is set to be under new management by the above mentioned date.
Employees of the company have been given the assurance that ‘severance pay, as computed in accordance with part Vii (Three) of the Protection of Employment Act 2003, shall be given after your accomplishment of all the necessary clearance relative to your separation.’
It was also noted in the memo that any employment gained under the new company will be under different contracts.
In the closing lines of the memo, the employees were thanked for their service and loyalty to the company over the years.
The memo is as follows:
‘This memo serves to inform you that we will be making some strategic changes to the operating model of our company, P. H.VEIRA & CO LTD., effective November 14, 2022. As part of this change, our company will be under new Management on the said date.
Therefore, your employment as well as that of the other employees of the company shall cease to exist after the effective date.
Rest assured that severance pay, as computed in accordance with part III (Three) of the Protection of Employment Act 2003, shall be given after your accomplishment of all the necessary clearance relative to your separation.
Any employment with the new company would be under a new contract.
We thank you for your service and loyalty to our company over the years, and we do look forward to your continued support of the new entity.’
The company also made an official announcement via its Facebook page which states:
‘After 80+ years of service, we will sadly be closing our supermarket, Hardware, Wholesale and Bakery, effective November 14th, 2022. We’d like to take this time to thank our past and present employees, customers, suppliers, and well wishers for their tremendous service and support throughout the years with us.’