Javier Milei's Bold Labor Reform Initiative

Argentine President Javier Milei has proposed a labor reform bill to Congress aimed at reducing bureaucracy and enhancing job creation. The bill offers employers flexibility with working hours and severance costs while facing strong union opposition. It has backing from the Argentina Industrial Union.

In a significant legislative move, Argentine President Javier Milei has introduced a labor reform proposal to Congress, aimed at dismantling bureaucratic hurdles stifling formal job creation.

The proposal, which coincides with the newly-elected Congress' special legislative session, is seen as a strategy to invigorate Argentina's struggling economy. Key facets of the bill include greater employer flexibility in working conditions and reduced severance costs. Additionally, it proposes financial incentives to encourage formal employment and salary payments in foreign currencies.

Despite facing staunch opposition from unions, including a planned march by the General Confederation of Labor, the bill has garnered support from industrial sectors. Martin Rappallini, representing the Argentina Industrial Union, emphasized the need for reform in the face of competitive imports and job losses.