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.

 

[Larry]

This is what is happening to restaurants. This restaurant was selling 4,000 pizzas per month and now they are selling 900 - 1,100 pizzas per month. Look at what his water bill has done in the past month. Getting 1 million peso water bills for a cycle of 2 months. That is not even counting electricity or gas bills.

This is the reason why even Don Julio is very slow now and sending out promotions to eat there.

https://twitter.com/x/status/1838287220979175774

 

[Uncle Wong]

This is what is happening to restaurants. This restaurant was selling 4,000 pizzas per month and now they are selling 900 - 1,100 pizzas per month. Look at what his water bill has done in the past month. Getting 1 million peso water bills for a cycle of 2 months. That is not even counting electricity or gas bills.

This is the reason why even Don Julio is very slow now and sending out promotions to eat there.

https://twitter.com/x/status/1838287220979175774

That is a lot of debt to have for a water bill. How much water are they using! I heard from a friend it's not uncommon for some to be sharing water or electricity. I don't know much about that but to have a $5,000 USD delinquent water bill is crazy. He is probably behind on all his other bills too. How do you sell 4,000 pizzas a month and not be able to stay in business or pay your bills?

 

[VINO]

That is a lot of debt to have for a water bill. How much water are they using! I heard from a friend it's not uncommon for some to be sharing water or electricity. I don't know much about that but to have a $5,000 USD delinquent water bill is crazy. He is probably behind on all his other bills too. How do you sell 4,000 pizzas a month and not be able to stay in business or pay your bills?

They have big penalties/interest to pay late so this business owner might just be so far behind. Sounds like his business will go under very soon.