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Argentina's new president lays off 5,000 government employees hired in 2023, before he took office

  • Argentina's new President Javier Milei will not renew contracts for over 5,000 employees hired this year, as part of a plan to transform the struggling economy.
  • Milei aims to reduce government regulations and payrolls, privatize state-run industries, and boost exports and investment. The move has prompted protests but Milei remains determined.
  • Inflation is expected to reach 200% by the end of the year. Milei's measures include 50% devaluation of the peso, cuts to subsidies, closure of ministries, and loosening protections for renters, employees, and shoppers.
Insights by Ground AI

40 Articles

Lean Left

The administration of Argentine President-elect Alberto Fernandez announced today that it will dismiss more than 5,000 public officials who have been appointed this year before he takes office.

·Belgrade, Serbia
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Center

In Argentina, the government has announced that it will lay off thousands of employees.

·Germany
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Bias Distribution

  • 39% of the sources lean Left, 38% of the sources are Center
39% Left

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Clarin broke the news in Buenos Aires, Argentina on Tuesday, December 26, 2023.
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