Argentine President Milei Announces Major Government Job Cuts Amid Economic Crisis

The austerity measures, aimed at curbing rampant inflation and state expenses, may lead to increased poverty, critics warn.

New Argentine President Javier Milei has announced a cut of around 5,000 government jobs as part of a larger package of cuts aimed at reining in government spending.
The move comes as Argentina faces an inflation rate nearing 200%, depleted foreign reserves, and a potential 50% devaluation of the Argentine peso.
Milei's administration has also indicated that contracts of other government employees hired in previous years may be reviewed.
The cuts are part of Milei's broader strategy to reduce the size and expenses of the state in a nation where one in four Argentines are living in poverty.
Critics warn that the austerity measures will increase inflation, reduce income and employment, and increase poverty.