Siderperú to lay off 13% of its workforce in Peru

Siderperú, Peru’s oldest steel company, has announced a 13% reduction in its workforce through a collective dismissal process. The company will terminate approximately 111 employees, representing a significant portion of its 896-person staff as of July.

In a communication to the Superintendencia del Mercado de Valores (SMV), the company stated the decision stems from the closure of its road business line, which it deemed “inviable due to variations in demand and long-term profitability results.” Siderperú also plans to reorganize complementary business processes to optimize functions through technological and administrative improvements.

The company noted that the process will include voluntary retirement programs and has previously implemented internal mobility and retraining mechanisms. Meanwhile, the Federación Nacional de Trabajadores Mineros, Metalúrgicos y Siderúrgicos del Perú has expressed firm opposition to the announced layoffs.