Public companies lost nearly $5 trillion in 2022 but still added employees

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As soon as he took office as Economy Minister, in August 2022, Sergio Massa announced the freezing of vacancies in the public sector that depends on the national government. But last year, perhaps before that announcement, and who knows if after, public companies managed to increase their headcount. Specifically, in the first nine months of 2022 they joined the staff of the so-called “entrepreneurial state”. 1,876 new appointments.

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Thus, the total of 35 companies ended the third quarter with 92,930 employees, against the 91,054 who had closed in 2021. The increase in personnel has not stopped despite the growing deficit enrolled by public companies: in the first nine months of 2022 they enrolled operating losses of approximately $5.6 billion even if they would have closed the year with a loss of just under US$ 5,000 million.

In 25 of the 35 companies there was an increase in personnel, in the remaining 10 there was an adjustment in personnel.

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At the head of the appointments there are Road corridors -which depends on the Ministry of Public Works under the command of Gabriel Katopodis- who added 570 employees, a 17% increase. This company had an operating deficit of about $8 billion.

Then it appears Railway operator of the State Company (OFSE) generically known as Argentine trains. It has added 525 employees to its growing workforce to 24,141. The trains depend on the Ministry of Transport, an area in which Minister Sergio Massa has trusted men.

clarion informed that the railway holding company, composed of OFSE, Belgrano Cargas, Ferrocarriles Argentinos Sociedad del Estado (FASE), Administration of Railway Infrastructure (ADIF) and Railway Human Capital Development (DECAHF) is the largest employer in the country. Sum between the five companies 697 new jobs and reach the 30,722 jobs.

Trains is, in addition to the main employer, one of the public companies with higher operating deficit. Measured in dollars at the official exchange rate, between January and September 2022 it recorded a red of $966 million, or just over $3.5 million in daily losses.

The Trenes Argentinos company is very active in spreading the reopening or recovery of new passenger branches. A highly promoted case was that of the Retiro – Rufino (Santa Fe) – Justo Daract (San Luis) service. According to official data, in all of last year, 40,583 passengers used this service, paying an average of $3,200. A collection of 130 million pesos, less than a million dollars at the average official exchange rate of 2022. Throughout the year. The same stretch, by bus, costs about $9,000.

The third company that incorporated most of the staff was military manufactures, which registered to operating result of 1,114 million of pesos. He added 200 employees and totaled 1,390 jobs.

The operator of nuclear power plants, pot, appears with 200 additions. It had a deficit of 1,252 million.

argentinian airlines, one of the most loss-making public companies but which has the particularity of not selling tickets at discounted fares (it costs the same to travel to Madrid, for example, in Airlines than in Iberia) has continued to increase its workforce. It’s already at 11,447 employees, an increase of 79 last year. The airline received 72,000 million pesos in subsidies last year, according to official data from the economy ministry. The company claims it hasn’t crossed the $50 billion mark, but Economy spreadsheet numbers say otherwise.

Another striking case is that of Coal deposits of the Turbio riverwhich allocates the majority of its operating income to pay salaries. Increased the number of employees by 143, despite producing almost no coal. Official data says it had operating income of $298 million and operating expenses of $9,243 million in 2022. And86% of that money went to pay salaries.

From which they have shrunk, its plant stands out Argentine postThat it cut 796 employees and left its headcount at 17,868 workers. Correo is among the biggest losers, with an operating deficit of $187 million in the first three quarters of 2022. While it seems unreal, the company in which La Cámpora tramples It is the one that has reduced the staff the most.

Source: Clarin

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