Official data from the Superintendency of Occupational Risks (SRT) of Argentina reveals that 19,164 companies ceased operations between the start of Javier Milei's government and August of this year , which is equivalent to around 30 closures per day continuously for almost two years.
The registry indicates that 1,974 of these companies belong to the manufacturing industry . The information, compiled by the Center for Argentine Political Economy (CEPA), does not include the new wave of closures that gained momentum this week , marked by the announcement of the closure of the Whirlpool plant in Fátima, Pilar , which opened just three years ago with the promise of creating 300 jobs.
The company attributed the measure to a sharp drop in sales and an increase in imports. A laid-off worker stated that the explanation they received was simple: “It’s cheaper to import the product.”
The SRT report—updated through August 2025—also omits other recent closures such as the DANA auto parts plant in San Luis , the YPF plant in Concepción del Uruguay , three Granja Tres Arroyos plants , the Sueño Fueguino textile factory, an ID waste management plant , an SKF bearing factory in Tortuguitas , and the imminent bankruptcy of Acerías Berisso . Also excluded from the statistics is the closure of Color Living in Pacheco, which left 40 workers unemployed.
More than 276,000 formal jobs lost
The closure of businesses was accompanied by the loss of 276,624 registered jobs , 55,941 of which were in the manufacturing sector. In just 21 months, the country experienced a 4.6% drop in formal employment .
While workers face mass layoffs and declining wages , many companies are opting for restructurings that prioritize imports over local production . This was confirmed by Whirlpool and SKF, as well as the footwear company Viamo , which closed dozens of stores to become an importer. The United Tire Workers Union (SUTNA) denounced similar maneuvers by Pirelli and Bridgestone .
The industrial crisis is increasing pressure on unions , while the business sector hopes that tax and labor reforms will improve the competitiveness lost due to the overvalued exchange rate. The government promised to push through these changes during the extraordinary sessions in December and January.
However, the wave of closures contradicts the official argument that labor reform will generate formal employment. The decision by multinationals like Whirlpool to close plants even before such legislation reaches Congress casts doubt on that premise.
According to experts, labor reform doesn't create jobs: it only improves business profitability through increased job insecurity , while employment depends on the pace of the economy. They add that increased flexibility often accelerates layoffs.
This week, Gerardo Martínez, the representative of the General Confederation of Labor (CGT) to the May Council, participated in a meeting on labor reform. Upon leaving, he stated that they emphasized the need for any "modernization" not to affect rights already won.
His statements hinted at an openness to modifications that do not affect workers currently under collective bargaining agreements, an idea that some business sectors are promoting to segment the labor market and apply a gradual reform that would only encompass the entire workforce in 15 or 20 years.
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Argentina: More than 19,000 companies have ceased operations since Milei came to power
https://www.telesurtv.net/argentina-miles-empresas-dejan-operar-milei/Official data from the Superintendency of Occupational Risks (SRT) of Argentina reveals that 19,164 companies ceased operations between the start of Javier Milei's government and August of this year , which is equivalent to around 30 closures per day continuously for almost two years.
The registry indicates that 1,974 of these companies belong to the manufacturing industry . The information, compiled by the Center for Argentine Political Economy (CEPA), does not include the new wave of closures that gained momentum this week , marked by the announcement of the closure of the Whirlpool plant in Fátima, Pilar , which opened just three years ago with the promise of creating 300 jobs.
The company attributed the measure to a sharp drop in sales and an increase in imports. A laid-off worker stated that the explanation they received was simple: “It’s cheaper to import the product.”
The SRT report—updated through August 2025—also omits other recent closures such as the DANA auto parts plant in San Luis , the YPF plant in Concepción del Uruguay , three Granja Tres Arroyos plants , the Sueño Fueguino textile factory, an ID waste management plant , an SKF bearing factory in Tortuguitas , and the imminent bankruptcy of Acerías Berisso . Also excluded from the statistics is the closure of Color Living in Pacheco, which left 40 workers unemployed.
More than 276,000 formal jobs lost
The closure of businesses was accompanied by the loss of 276,624 registered jobs , 55,941 of which were in the manufacturing sector. In just 21 months, the country experienced a 4.6% drop in formal employment .
While workers face mass layoffs and declining wages , many companies are opting for restructurings that prioritize imports over local production . This was confirmed by Whirlpool and SKF, as well as the footwear company Viamo , which closed dozens of stores to become an importer. The United Tire Workers Union (SUTNA) denounced similar maneuvers by Pirelli and Bridgestone .
The industrial crisis is increasing pressure on unions , while the business sector hopes that tax and labor reforms will improve the competitiveness lost due to the overvalued exchange rate. The government promised to push through these changes during the extraordinary sessions in December and January.
However, the wave of closures contradicts the official argument that labor reform will generate formal employment. The decision by multinationals like Whirlpool to close plants even before such legislation reaches Congress casts doubt on that premise.
According to experts, labor reform doesn't create jobs: it only improves business profitability through increased job insecurity , while employment depends on the pace of the economy. They add that increased flexibility often accelerates layoffs.
This week, Gerardo Martínez, the representative of the General Confederation of Labor (CGT) to the May Council, participated in a meeting on labor reform. Upon leaving, he stated that they emphasized the need for any "modernization" not to affect rights already won.
His statements hinted at an openness to modifications that do not affect workers currently under collective bargaining agreements, an idea that some business sectors are promoting to segment the labor market and apply a gradual reform that would only encompass the entire workforce in 15 or 20 years.