State-owned TSTT has confirmed that over 500 workers have been given retrenchment notices today.
The company says this will involve both junior and senior staff.
The following is a statement by TSTT today.
"Today, Thursday 15 November, 2018, TSTT executed on a critical phase in its organizational transformation.
This phase involves 503 Junior and Senior staff employees receiving retrenchment notices along with payment in lieu of the 45 days’ notice.
Members of the Steel Workers Union of Trinidad & Tobago has signalled its intention to protest at the Couva roundabout from 6 am on Tuesday. The Union says this action results from allegations that the Nu-Iron Unlimited is about to purchase the entire Steel Plant facility formerly known as ArcelorMittal.
Its members say that the company is purchasing the ArcelorMittal Steel Plant for less than the value of the unpaid separation benefits of the former workers.