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2 clusters · 5 sources · 25 days · First seen about 1 month ago · Last updated 13 days ago

Metalfor labor dispute and financial crisis

Overview

The agricultural machinery manufacturer Metalfor is facing a severe financial crisis and ongoing labor disputes in Argentina. Initially, the company reversed 35 layoffs at its Noetinger plant following a complaint by the Unión Obrera Metalúrgica (UOM) and an order from the Ministry of Labor. However, union leaders noted that the situation remained unstable due to a mysterious investment fund seeking the company’s bankruptcy.

The crisis escalated as Metalfor concluded a preventive crisis procedure, proposing a 70% reduction of its workforce, which consists of approximately 600 employees. The UOM rejected this proposal. The company is reportedly dealing with salary delays and two bankruptcy petitions, and it may seek bankruptcy protection. Labor delegates have also alleged that the firm intends to settle some severance payments using merchandise, while the union maintains that the company does not have automatic authorization to carry out dismissals based on force majeure.

Entities

Unión Obrera Metalúrgica · Metalfor · Noetinger · Marcos Juárez · Bertotto Boglione

Timeline

13 days ago

[BUSINESS] 5 sources
Metalfor proposes 70% workforce reduction amid financial crisis
Agricultural machinery firm Metalfor proposes a 70% workforce reduction amid reports of salary delays and potential bankruptcy proceedings in Argentina.
about 1 month ago

[BUSINESS] 2 sources
Metalfor plant in Noetinger reverses 35 layoffs amid ongoing labor dispute
Metalfor reversed 35 layoffs at its Noetinger plant after a union complaint, but the dispute continues, with plans to halt production and cut up to 170 jobs.

Sources

caloi.com.ar · combonoticias.com · cuestionentrerriana.com.ar · el-periodico.com.ar · rionegro.com.ar