In Argentina crisis, firms do everything to cut costs - except fire workers
(WorldNews Argentina)

Like many Argentine businessmen, Marco Meloni is doing everything he can to avoid laying off staff at his textile factory despite a slump in sales, more than 70% interest rates, and soaring utility bills. The reason? He doesn´t have the money to fire anyone. A little-reported and unusual feature of the economic crisis gripping Latin America´s third-largest economy is the absence of many workers losing their jobs. Small businesses, the biggest employer in Argentina, have been hardest hit by inflation that is nearly 48%, a tumbling peso, and major cuts to subsidies for public utilities that have sharply increased companies´ operating costs. But the unemployment rate has barely...