about 18 employees through a series of retirements and redundancies.

HWP Group CEO and President Jonathan Brewin reported yesterday that the changes within the company were part of its ongoing evolution which began when it purchased Ray Brothers and Pearman,Watlington Company's auto division.

The key priority of that evolution was to provide top quality service to its customers, he noted.

"HWP has recently invested a great deal of time and money into the reorganisation of the company and we are making every effort to improve at all levels,'' he said. "The more evident changes are in the physical premises.

However, over the course of the next few months, the public should start to see a great deal of other evidence of these improvements.'' Of the 18 recent departures, eight were primarily administrative staff whose positions were made redundant, he continued.

Said Mr. Brewin: "All companies in Bermuda and worldwide are faced with the need to constantly analyse their organisational structure and apply changes where business needs dictate.

"A combination of factors including new commercial challenges and increasing costs of doing business in Bermuda require tight control of all overheads.

"All the staff that were made redundant have been compensated in full accordance with the terms and conditions of employment within the company.

"We also take this opportunity to thank them for their invaluable service to the company.'' The other ten departures were all 65 years of age or older, said Mr. Brewin, and they took retirement.

"Over the years HWP has been very fortunate to have many excellent people work for us,'' stressed Mr. Brewin.

"The people that have taken retirement have been wonderful and we take this opportunity to publicly thank them.''