Ternium Argentina, formerly known as Ternium Siderar, has reportedly agreed with a local union to reduce wages as a way to avoid layoffs during the Covid-19 outbreak, a media report from PuntoBiz said.
The media report said the agreement involves 10,000 workers from its Haedo, Ensenada, Canning, Florencio Varela, San Nicolás and Campana facilities in Argentina. Previous media reports said the deal would affect about 5,000 workers.
Under the terms of the deal, Ternium Argentina would pay between 50 and 70 percent of the workers’ wages.
Both the Heado and Canning mills produce galvanized sheets, slitted and roll-formed products and profiles for the civil construction and home appliance sectors.
The Ensenada plant produces cold-rolled coils for the civil construction segment. The Florencio Varela unit produces electrogalvanized sheets, blanks and slitted products for the automotive, construction and other industries.
The San Nicolás mill produces slabs, hot-rolled, cold-rolled and tinplate coils for the construction, industrial, packaging and naval sectors, and for further processing in other Ternium Argentina units.