Sunday, March 3, 2024

The Monte de Piedad branches may close in the first days of February 2024

The National Monte de Piedad is a reference to Mexican culture, but when it comes to food, their operation is dangerous because of the situation of their workers.

This non-profit private aid institution has been operating in Mexico for 245 years through collateral lending and financial services. which helps approximately 3 million families each year.

Monte de Piedad is characterized by offering the lowest interest rates in the market and benefiting 2 million people every year from the rest of these loans, which are mainly used for health, education, housing, gender equality, food security, and community. development.

Why are the Monte de Piedad branches closing?

However, despite the long history and support it offers, it is in a situation of strike because it is going through a situation where the operation of pawn shops on February 1 is dangerous.

Since the COVID-19 pandemic, National Monte de Piedad has had many branch closures; currently, 250 are operating. Therefore, there was a reduction in personnel, but within a decade, there was a conflict with the union that increased, and the Ministry of Labor was a mediator.

The union refused to abrogate the collective contract to establish one, so a strike was called, which was postponed for a year, causing their agreement to expire on January 30.

If you can’t reach it, they will go on strike, and the gradual closing of branches will begin on February 1, 2024.

Will the National Monte de Piedad be closed?

On January 30, when the agreement reached by the company’s union was known, it proposed 1,500 jobs, as 60% of the income goes to pay for jobs.

While the Ministry of Labor proposed in November 2023 that the institution maintain a workforce of 1,950 workers and cut only 200 positions.

The negotiations also considered benefits such as a bonus, a 29-day vacation bonus and 30 days of vacation, commission, a 34.5-hour work week, a punctuality bonus, and a mandatory break.

World Nation News Desk
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