ICE To Tighten Belt, President Hints Layoffs A Possibility

The president of the Instituto Costarricense de Electricidad (ICE), Teófilo de la Torre, said on Tuesday that overtime, bonuses and even possible layoffs are part of the action that the state agency may take to change its financial position.



ICE ran up a ¢21 billion deficit and is under the eyes of the central government to cut costs and losses.

The deficit is blamed on the opening of the telecommunications market, when last December ICE stopped being the only provider of cellular service in Costa Rica and as well as losing its monopoly on international calling and internet services over the past year or so.

In a press statement the ICE president said that the central government has agreed with the measures the institution will apply to better its financial position.

The ICE president said that salaries, including overtime and bonuses represents 21% of ICE's costs.

Rene Castro, the ministro de Ambiente, Energía y Telecomunicaciones (MINAET) added that alliances with other companies may be another option for ICE.

Currently ICE has a staff of 16.000, of which 3.800 where hired between 2007 and 2010.