After reducing the workers’ wages twice this year in order to avoid massive dismissals, Argentine steel tubes producer Tenaris Siderca is said to be planning a massive layoff if the company’s employees don’t accept a new reduction in salaries, according to a local union.
Early in October, Siderca extended for two more months the provisional layoff it had applied for its Campana workers. Employees who joined the temporary layoff program were then receiving 80 percent of their regular wages.
Early in October, Siderca extended for two more months the provisional layoff it had applied for its Campana workers. Employees who joined the temporary layoff program were then receiving 80 percent of their regular wages.
However, as the company’s perspectives have worsened further, Siderca is said to be suggesting a new reduction in wages, down to 60 percent of their regular pay.
The nation’s metal worker’s union, UOM, said if the workers don’t accept the new proposal they’re likely to be laid off.
The union said Siderca saw a 70 percent decline in sales in the past few months.