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In the midst of the recession and the decline of the industry, a faucet factory furloughed 600 employees - Infobae
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En medio de la recesión y la caída de la industria, una fábrica de grifería suspendió a 600 empleados
Se trata de Fv, que acordó con el gremio UOM un esquema de 26 días de suspensión repartidos entre mayo y julio. La producción de insumos de construcción cayó
www.infobae.com
May 16, 2024
This is Fv, which agreed with the UOM union on a 26-day suspension scheme spread between May and July. Production of construction supplies fell
The CGT, on alert for suspensions and dismissals. Luciano Gonzalez
The faucet company FV announced that it will suspend 600 employees from its Pilar factory, in a context in which industrial production and construction supplies are registering very marked falls due to the recession.
As explained to Infobae by the company, the suspensions will take place for that number of production line workers for the domestic market , while the premium segment, which is exported, will continue to operate. It will be a scheme, which they claim was agreed upon with the UOM metallurgical union, which contemplates 26 days of suspension in total until the end of July.
It will be a scheme in which the total number of days of suspension will be distributed over 10 days in May, 7 in June and 9 in July , with a payment of 80% of the net salary for those days, according to a company source. FV has existed for 105 years and currently has 1,500 employees in Argentina. It has 3,500 products on the market and sells in 25 countries.
FV is managed by the Viegener family . It has its origins in the second half of the 19th century, when Franz Viegener founded the Franz Viegener II firm in Attendorn, Germany, and had the initials “FV” as its brand name. His son Francisco Viegener emigrated to Argentina in 1921, and that year founded the FV firm. “The Viegener family has continued since then to lead the company, initially dedicated to the manufacture of valves and brasswork,” the brand explains on its website.
Falling production
The latest data from Indec, which goes up to March, indicate that the production of inputs for production is experiencing a marked impact in the midst of the recession . “The data on the apparent consumption of construction inputs in March 2024 show, in relation to the same month of the previous year, drops of 69.2% in asphalt; 54.3% in round iron and steel for construction; 53.8% in plasterboard; 46.6% in gypsum”, listed the statistical organization
Also, he continued, the falls are “46.1% in manufactured concrete; 43.7% in hollow bricks; 43.1% in Portland cement; 41.6% in granitic and calcareous mosaics; 40.5% in limes; 38.2% in ceramic floors and coverings; 37.7% in ceramic sanitary ware; 32.8% on the rest of the inputs (includes taps, seamless steel tubes and glass for construction) ; and 24.0% in construction paints,” they indicated.
The FV faucet brand suspends 600 employees from its production line for the domestic market
Official numbers show that the deep recession of recent months is evident in a sensitive indicator such as unemployment. Data from the Ministry of Labor stated that last March was the worst March since 2002 , and that the year-on-year drop in the first four months of Javier Milei 's government is 1.4 percent. Construction, which had a 42% drop in its activity level in March, is the sector that took the worst hit in terms of employment.
The labor portfolio headed by Julio Cordero prepares two reports on the state of the labor market, which uses the Argentine Integrated Pension System (SIPA) as a database, which is the report with the greatest scope but with a greater lag, since the information recently published only lasts until February. A second report is the Estimator of Labor Indicators (EIL), which runs until March and which includes companies with more than 10 employees in a group of urban centers throughout the country.
The EIL, with a smaller scope, is a month older and showed even higher recession impact numbers. The report “presented a contraction of 0.5% compared to the month of February. With this variation, there are four consecutive months of net fall in employment and a reduction of 1.4% accumulates between November 2023 and March 2024,” he indicated.
“In relation to the months of March in previous years, the largest drop in employment has been observed since March 2002 and similar values were recorded in two moments of economic crisis, March 2009 and March 2020 with the pandemic. In year-on-year terms, the level of registered salaried employment decreases 0.6%,” the report continued.
“In March 2024, all branches of activity experienced contraction and it is the construction sector that presents the largest monthly drop in employment with 2.4% and accumulates 13.5% year-on-year. The rest of the sectors presented more moderate monthly declines and maintained year-on-year growth,” he explained.
