New wave of shutdowns and layoffs puts Argentine industry on alert

[Pink Panther]

Not sure if anyone posted this yet. Dismal news.

The country's manufacturing sector is facing a crisis that some are calling the worst in its history​

New wave of shutdowns and layoffs puts Argentine industry on alert - Buenos Aires Herald

The country's manufacturing sector is facing a crisis that some are calling the worst in its history

buenosairesherald.com

 

[Uncle Wong]

What is scary is the manufacturing sector accounts for the largest amount of employees in Argentina. This sounds like the tip of the iceberg for layoffs with all the cheap Chinese imports coming in.

 

[crypto]

Ouch. Sounds like more layoffs coming.

 

[Betsy Ross]

Retail numbers don't look good at all. People cutting back.

Argentine retail sales plunge amid wage crisis

Retail sales by small and medium-sized enterprises (SMEs) in Argentina continued their negative trend in November, recording a sharp decline of 9.1% compared to October and a year-on-year drop of 4.1%, according to the Argentine Confederation of Medium-Sized Enterprises (CAME).

en.mercopress.com

 

[jbeas176]

i lived through 1986, 2000, and 2008 in the usa. its never easy but you will survive. get creative start a service business.

 

[jbeas176]

believe me there are no handouts. sink or swim

 

[lemonade]

i lived through 1986, 2000, and 2008 in the usa. its never easy but you will survive. get creative start a service business.

Life goes on but it is sad for many. I noticed a big pick up in people going through garbage bins. 72% of employees I read make less than $715 dollars a month. 😱

 

[MikeRoss]

It sounds like Ford is also warning unless the tax burden lowers in Argentina they will probably close down manufacturing plants here too.

Cierre de automotrices: la advertencia del presidente de FORD en medio de la crisis de Milei

Cuál fue la advertencia que lanzó el presidente de Ford Argentina. Qué dijo el presidente de Ford Argentina sobre el cierre de fábricas de autos. Crisis.

www.eldestapeweb.com

 

[Nasdaq]

It sounds like Ford is also warning unless the tax burden lowers in Argentina they will probably close down manufacturing plants here too.

Cierre de automotrices: la advertencia del presidente de FORD en medio de la crisis de Milei

Cuál fue la advertencia que lanzó el presidente de Ford Argentina. Qué dijo el presidente de Ford Argentina sobre el cierre de fábricas de autos. Crisis.

www.eldestapeweb.com

It's not just Ford. It sounds like all of them are struggling. General Motors sounds like they are reducing capacity at their plant in Argentina too.

Crisis industrial: General Motors hará trabajo "intermitente" y activa suspensiones en Santa Fe

General Motors anunció que su planta de Santa Fe funcionará con suspensiones periódicas durante todo el 2026, afectando a 600 operarios que percibirán el 75% de su salario durante los parates mensuales.

www.datadiario.com

 

[Petey]

It's not just Ford. It sounds like all of them are struggling. General Motors sounds like they are reducing capacity at their plant in Argentina too.

Crisis industrial: General Motors hará trabajo "intermitente" y activa suspensiones en Santa Fe

General Motors anunció que su planta de Santa Fe funcionará con suspensiones periódicas durante todo el 2026, afectando a 600 operarios que percibirán el 75% de su salario durante los parates mensuales.

www.datadiario.com

With boatloads of Chinese cheap cars coming and others arriving, doubt local companies can compete.

 

[Cheap Bastard]

Closer look at this massive shipping container full of cars. Massive.

 

[Good Stuff]

It's not just Ford. It sounds like all of them are struggling. General Motors sounds like they are reducing capacity at their plant in Argentina too.

Crisis industrial: General Motors hará trabajo "intermitente" y activa suspensiones en Santa Fe

General Motors anunció que su planta de Santa Fe funcionará con suspensiones periódicas durante todo el 2026, afectando a 600 operarios que percibirán el 75% de su salario durante los parates mensuales.

www.datadiario.com

Yes, a good friend of mine works at the Ford plant in Pacheco. outside of Tigre. They have a massive amount of cars sitting on the lot that they did not have a year and a half ago. With the massive inflation, people were buying cars and spending money. Large layoffs will probably happen soon. Here is an interesting article about steel in Argentina, Techint is the big player. https://batimes.com.ar/news/argenti...revive-his-business-in-mileis-argentina.phtml

It speaks well to geopolitics, peso, and building stuff. I love people who build things, tradespeople are awesome. Even Steel Magnates are fascinating folks and every country needs some good billionaires.

 

[Piranha]

Yes, a good friend of mine works at the Ford plant in Pacheco. outside of Tigre. They have a massive amount of cars sitting on the lot that they did not have a year and a half ago. With the massive inflation, people were buying cars and spending money. Large layoffs will probably happen soon. Here is an interesting article about steel in Argentina, Techint is the big player. https://batimes.com.ar/news/argenti...revive-his-business-in-mileis-argentina.phtml

It speaks well to geopolitics, peso, and building stuff. I love people who build things, tradespeople are awesome. Even Steel Magnates are fascinating folks and every country needs some good billionaires.

Heard the same thing. @Good Stuff what will your friend do if they shut down the plant? Is it easy for the workers to get a job at another plant? Large layoffs seem like they are already happening and with the amount of imports flooding into Argentina this sounds like it will only get worse. But the companies sound like they only have themselves to blame as they were depending on protectionism from the government which is fading fast.

 

[Good Stuff]

Heard the same thing. @Good Stuff what will your friend do if they shut down the plant? Is it easy for the workers to get a job at another plant? Large layoffs seem like they are already happening and with the amount of imports flooding into Argentina this sounds like it will only get worse. But the companies sound like they only have themselves to blame as they were depending on protectionism from the government which is fading fast.

Said twenty year ford employee will walk away with a good chunk of change in a legally mandated severance package, move to the country and eat a lot of peaches. Then get another job.

 

[Cardiac Arrest]

Said twenty year ford employee will walk away with a good chunk of change in a legally mandated severance package, move to the country and eat a lot of peaches. Then get another job.

Better grab the bag while he can. With the labor reform coming sounds like those will largely go away so probably won't get one in his next job. Good on him.

 

[Blockchain]

I don't think that many Argentines care about all of these layoffs of these local companies that never could compete and are only in business because of protectionism by the socialist governments before. They never had to be competitive or compete and were ripping off local consumers with high prices.

Local manufacturers were charging as high of a price as they could. A few people I met got laid off and some others told me more are coming.

Whirlpool, Mabe, Electrolux are all folding like a house of cards. That Chinese dude that owns Peabody has cut down his staff too. Another friend was working at Peabody and he told me they used to have 6 active production lines and now only one is operating.

Now they are offering to share their production facility with other companies. No one is buying anything. All the guy was doing was importing Chinese electronics and slacking a label that said "Made in Argentina" and jacking up the prices. Now that imports are flooding in he doesn't have to do that anymore. The problem? No one is buying anything because the household appliance sector is in the shitter even for imported products.

 

[naked]

I don't think that many Argentines care about all of these layoffs of these local companies that never could compete and are only in business because of protectionism by the socialist governments before. They never had to be competitive or compete and were ripping off local consumers with high prices.

Local manufacturers were charging as high of a price as they could. A few people I met got laid off and some others told me more are coming.

Whirlpool, Mabe, Electrolux are all folding like a house of cards. That Chinese dude that owns Peabody has cut down his staff too. Another friend was working at Peabody and he told me they used to have 6 active production lines and now only one is operating.

Now they are offering to share their production facility with other companies. No one is buying anything. All the guy was doing was importing Chinese electronics and slacking a label that said "Made in Argentina" and jacking up the prices. Now that imports are flooding in he doesn't have to do that anymore. The problem? No one is buying anything because the household appliance sector is in the shitter even for imported products.

Agree. I don't think it is the government's job to protect industries. That is what Trump wants to do but if the USA did that and brought manufacturing to the US then cost of thinks would be crazy high just like they were in Argentina. You will see $300 dollar shirts like you can see in Argentina walking into the mall. My girlfriend was looking at clothes last weekend and she was floored to see stuff at Zara that would be 30 euros in Madrid that were $150 euros here.

 

[ErosCer]

Agree. I don't think it is the government's job to protect industries. That is what Trump wants to do but if the USA did that and brought manufacturing to the US then cost of thinks would be crazy high just like they were in Argentina. You will see $300 dollar shirts like you can see in Argentina walking into the mall. My girlfriend was looking at clothes last weekend and she was floored to see stuff at Zara that would be 30 euros in Madrid that were $150 euros here.

🤣 Are all of these clothing stores money laundering operations in the mall? I don't understand how they stay in business. I don't see anyone buying anything and the rent spaces have to be very expensive. Look at many stores in Alto Palermo and you will see $200 or $300 USD prices for shirts. I don't understand it. I don't see much traffic. Not even during Christmas. How are they staying in business? Who is buying this overpriced stuff?

 

[oil rush]

🤣 Are all of these clothing stores money laundering operations in the mall? I don't understand how they stay in business. I don't see anyone buying anything and the rent spaces have to be very expensive. Look at many stores in Alto Palermo and you will see $200 or $300 USD prices for shirts. I don't understand it. I don't see much traffic. Not even during Christmas. How are they staying in business? Who is buying this overpriced stuff?

Actually I do believe there are a lot of fake businesses in BA that just launder money. Someone posted a restaurant here that got busted a while back.

 

[brandon]

Agree. I don't think it is the government's job to protect industries. That is what Trump wants to do but if the USA did that and brought manufacturing to the US then cost of thinks would be crazy high just like they were in Argentina. You will see $300 dollar shirts like you can see in Argentina walking into the mall. My girlfriend was looking at clothes last weekend and she was floored to see stuff at Zara that would be 30 euros in Madrid that were $150 euros here.

I went into Zara expecting cheaper prices. Here in the US it is known as a bargain priced store. I walked in there and same exact merchandise was very expensive. I thought prices were supposed to come down in Argentina but it didn't look like it. I went into many stores. It is hard to believe that locals would pay these prices. I noticed the same thing. No one is buying.