Argentina: Textile company suspends workers due to 'drastic' decline in sales
"An Argentine textile company suspends its employees due to a drastic drop in sales", 21 February 2024
Amid a complex economic scenario in Argentina, textile companies Australtex, Cladd, Enod and Alpacladd, belonging to the same business group, have recently announced the suspension of workers in order to continue operating.
This is detailed in an internal company document published by the local newspaper Ámbito Financiero, which details the need to take urgent measures to guarantee the sustainability of the company and the preservation of jobs.
Sources involved told the newspaper that the agreed suspensions, in force in the most affected production units, will be extended for at least three months.
The suspension scheme would compromise 75% of the workers' regular salary during the period, with the possibility of alternating work days with suspension periods in some units.
According to the Human Resources statement, the company faces a year and a half of uncertainty and a sharp decline in sales, reaching a historic limit in January with practically zero sales and full warehouses...
[Translation via Google Translate]