Argentina's President Milei Lays Off Over 5,000 Government Employees

The layoffs are part of a broader economic transformation plan, including a 50% devaluation of the Argentine peso and privatization of state-run industries.

Argentina's new President Javier Milei has laid off over 5,000 government employees hired in 2023, before he took office.
The layoffs are part of a broader plan of cutbacks and devaluations announced by Milei to transform Argentina's struggling economy.
Milei has pledged to reduce government regulations and payrolls, and allow the privatization of state-run industries to boost exports and investment.
The measures have already sparked protests, but Milei has vowed to continue with his plans.
The steps include a 50% devaluation of the Argentine peso, cuts to energy and transportation subsidies, and the closure of some government ministries.