Finance Secretary Agustín Carstens and Labor Secretary Javier Lozano announced that the government would offer redundant LFC workers up to Ps. 20 billion in indemnities, about 25% more than the law requires. (LFC’s annual deficit, which is covered by the government, is more than Ps. 40 billion.) The average worker would get a payment equal to 2-1/2 years’ salary and benefits. Workers have one month to decide if they will accept the government’s offer. Carstens estimated that about 10,000 of LFC’s 43,000 active workers could be re-contracted to work at the new company. The 20,000 retirees will continue to receive their current pensions. (Reforma 10/12)
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