Preparation to fire 70,000 government employees of these departments, see details here

Layoffs in Argentina: Government employees in Argentina, which is facing economic crisis, are going to get a big shock. There are going to be big layoffs in Argentina. 70,000 employees are going to lose their jobs together. Argentine President Javier Miley is going to take a big step to reduce the increasing burden on the country's economy. 70 thousand people will lose their jobs in Argentina in the coming few months.

Preparation for layoff of 70 thousand government employees

According to a Bloomberg report, Argentine President Javier Miley is going to lay off more than 70,000 government employees across the country in the coming months. Let us tell you that Argentina has been struggling with economic crisis for a long time. The economy is under pressure. In such a situation, to reduce the pressure on the country's economy, the government has decided to do retrenchments.

35 lakh government employees

According to the report, there are more than 35 lakh government employees in Argentina. In such a situation, the government hopes that the layoff of 70 thousand employees will not have any major impact. It is believed that the government will not renew the contacts of about 15 percent of the employees. Argentine President Javier Miley said that in recent days, large-scale layoffs are taking place in the country and the world. The government is going to terminate the contracts of 70 thousand employees working in the public sector. Although this is not the first time, before this the government has fired 50 thousand employees. According to the report, the contracts of these employees will be terminated by March 31, 2024.

Employees will be laid off from these departments

Employee organizations have started protesting against this decision of Argentine President Javier Miley. The employees who are being talked about to be thrown out are from areas like Ministry of Human Capital, Science and Economy, Social Security Agency, Energy Secretariat.

Argentina drowns in debt

Argentina is immersed in a huge economic crisis. Here the inflation rate has crossed 104 percent. Hyperinflation has pushed Argentina into extreme poverty. This country of the rich in the 1900s is becoming a country of beggars today. Huge debt, currency crisis, high inflation have shaken its economy. The reserves of the central bank are decreasing rapidly. To handle the faltering currency amid shortage of foreign reserves, the government devalued the currency, now the government is cutting jobs.