Granja Tres Arroyos and Wade will face a creditor meeting following the order from the Buenos Aires government to reinstate 1,200 laid-off employees. The crisis has led both companies to request this legal process, fueled by months of financial issues and labor conflicts.
According to sources close to the companies, a formal filing for the creditor meeting is expected to take place in the coming days. This move comes amid mandatory conciliation imposed by the Ministry of Labor of the province of Buenos Aires, which aims to reinstate the dismissed workers.
The labor conflict has resulted in an accumulated total of nearly 1,730 layoffs since its inception, including 700 from the Capitán Sarmiento plant, 50 from the Pilar factory, and 450 from Esteban Echeverría. This provincial intervention aims to suspend the strike actions and promote dialogue between the involved parties.
In recent hearings, representatives from the companies, the Food Industry Union of the Province of Buenos Aires (Steapba), and provincial authorities discussed the provision of 1,000 boxes of chicken to the affected workers and an advance payment to be made next week. The next hearing is scheduled for this Thursday.
The situation has recently intensified with the shutdown of the Capitán Sarmiento plant, which ceased operations “until further notice,” creating uncertainty about the job futures of its employees. Additionally, other establishments within the group have faced similar shutdowns in recent months.
This labor and operational crisis highlights the depth of the conflict and its impact on employment, with the recent decision to move towards a creditor meeting related to a debt of USD 350.9 million that the company is trying to restructure. Negotiations with creditors aim to establish a plan that includes significant reductions in the owed capital and extended payment terms.
Source: www.infobae.com
