Argentine lawmakers OK bill to stop layoffs; Macri to veto

BUENOS AIRES, Argentina – The House of Deputies gave final congressional approval on Thursday to a bill that would ban layoffs in the public and private sectors. The president has said he would veto it because it might scare off badly needed investment.

The opposition-controlled lower house approved the measure with 147 votes in favour, 3 against and 88 abstentions. The legislation would ban layoffs for 180 days and allow those who lose their jobs to get double compensation.

The measure already passed in the Senate.

It comes in defiance of President Mauricio Macri’s attempt to cut bloated spending and jumpstart Argentina’s economy through job cuts. He has fired thousands of workers since he came into office in December promising to curb a fiscal deficit.

Macri opposed the bill and promised to veto it.