By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Stocks > Exclusive-Codelco workers warn against job cuts, do not rule out strike -union head
Stocks

Exclusive-Codelco workers warn against job cuts, do not rule out strike -union head

News Room
Last updated: 2023/10/26 at 5:20 PM
By News Room
Share
3 Min Read
SHARE

© Reuters. FILE PHOTO: The logo of Codelco, the world’s largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018. REUTERS/Ivan Alvarado/File Photo

By Fabian Cambero

SANTIAGO (Reuters) – Workers for Chile’s Codelco will not rule out a strike if the state-owned company enacts job cuts to counteract a slump in production, which has reached its lowest point in a quarter century, the head of the company’s union association said.

In an interview with Reuters, Amador Pantoja, president of the Federation of Copper Workers (FTC) – which brings together the company’s unions – said Codelco, the world’s largest copper producer, should focus on getting structural projects, which have faced numerous delays, into production.

“We have said in every tone that today we have an extremely stressed crew,” Pantoja said, adding that the number of workers has dropped from 19,000 in 2015 to 12,000. “We cannot allow staff adjustments, we can’t afford anymore.”

Pantoja said that the unions aren’t ruling out any actions to pressure the company against any decisions that would reduce the company’s workforce and to force it to hold up agreements.

“We have never ruled out anything because those are the tools we have to defend ourselves,” he said.

“We understand that there must be adjustments, but if they want lower staffing, they may encounter surprises and workers are on alert.”

Pantoja also complained that the number of contractors has ballooned to 60,000, with 23,000 involved in production, which he says is in violation of previous agreements.

“We are losing the commitments that we already had,” Pantoja said, adding that the FTC will host a workshop in the first half of November to present their vision of the situation and solutions for the company.

One of the proposals includes returning maintenance tasks from contractors to employees, which Pantoja says is one of the main bottlenecks for current operations.

The union leader noted that the company’s current woes are “cyclical” and that workers have worked with the company before to find solutions.

“At one point in the past we froze our salaries, worked with management to reduce costs and came out almost even between the cost of production and the price of copper,” Pantoja said.

He stressed that unions will also oppose attempts to privatize or allow private capital to enter Codelco.

“Having our company 100% in the hands of the state is non-negotiable for us,” Pantoja said.

(Report by Fabián Andrés Cambero; Editing by Alexander Villegas and Diane Craft)

Read the full article here

News Room October 26, 2023 October 26, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
The power crunch threatening America’s AI ambitions

Many utility companies are pinning their short-term hopes on “demand response” solutions…

Why beef prices are out of control in the U.S.

Watch full video on YouTube

Stocks close lower to start the week, Stifel’s bullish Tesla call

Watch full video on YouTube

Touchstone Dynamic Large Cap Growth Fund Q3 2025 Commentary

At Touchstone Investments, we recognize that not all mutual fund companies are…

Israel stepping up ‘creeping annexation’ of West Bank, Palestinian PM says

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

CPS reports solid 2023 performance, eyes future growth By Investing.com

By News Room
Stocks

Niu Technologies faces mixed results in Q4 2023 By Investing.com

By News Room
Stocks

Exagen Inc. reports strong 2023 revenue growth By Investing.com

By News Room
Stocks

Legacy Housing reports mixed results amid sales decline By Investing.com

By News Room
Stocks

Harmony Biosciences exec sells over $383k in stock By Investing.com

By News Room
Stocks

Biofrontera posts record revenue and outlines growth plans By Investing.com

By News Room
Stocks

Granite Ridge CFO buys $31,000 in company stock By Investing.com

By News Room
Stocks

Coliseum Capital Management buys MasterCraft Boat shares worth over $3.2m By Investing.com

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?