Colombian steelmaker Acerias Paz del Rio, the local subsidiary of Brazil-based holding Votorantim, has fired 19 workers, according to a media report by Caracol Radio.
Local union CUT Boyacatá did not confirm in a statement how many people had been dismissed, but said the decision affected “many workers,” both employees and third party workers. The union said it would seek a meeting with Acerias Paz del Rio to discuss the matter.
Votorantim, the holding company that owns Acerias Paz del Rio in Colombia, said its long steel business in the country declined 18 percent in Q3 2019, year-on-year, to an undisclosed amount due to weaker steel sales volumes.
Votorantim’s combined net revenues for Colombia and Argentina in Q3 2019 was BRL 502 million ($120.5 million).