Three staff members have been made redundant at Ascendant Group following the outsourcing of its marketing and communications department to design and marketing company Cosmic Limited.
A further two vacant positions at Ascendant have also been axed.
In a statement, an Ascendant spokesman said: “The marketing and communications department for the Ascendant Group Limited has been outsourced, which will result in substantial cost savings to the company. Three staff and a total of five positions have been made redundant.
“The marketing and communications functions have been outsourced to Cosmic Ltd. a local, Bermudian-owned and managed company.”
Cosmic Ltd was founded 16 years ago, and in 2016 it merged with The Foundation, a specialist in web design, development, print and online marketing services.