Argentina’s small and medium-sized businesses brace for total devastation

[Larry]

10,000 companies have gone out of business since Milei took over.

10,000 firms closed, 265,000 registered jobs lost since November

Larger firms with more than 500 workers suffered the most and were responsible for the majority of lay-offs, says CEPA report.

www.batimes.com.ar

 

[Uncle Wong]

10,000 companies have gone out of business since Milei took over.

10,000 firms closed, 265,000 registered jobs lost since November

Larger firms with more than 500 workers suffered the most and were responsible for the majority of lay-offs, says CEPA report.

www.batimes.com.ar

Wow that's a lot of job losses. And the number is probably much higher. The article says "registered job losses". My friend there told me that many people are working under the table to save on taxes. I wonder how many of those people have lost jobs. During a tough recession like this, when someone loses a job can they easily find another if everyone is laying off during a recession?

 

[Vince]

Wow that's a lot of job losses. And the number is probably much higher. The article says "registered job losses". My friend there told me that many people are working under the table to save on taxes. I wonder how many of those people have lost jobs. During a tough recession like this, when someone loses a job can they easily find another if everyone is laying off during a recession?

It's true Uncle Wong. There are a lot of jobs where people just get paid in black as we say here. Also many jobs like maids aren't registered. Some local friends have cut back on # of times per week with their maids. So some people that still have jobs have hours cut.