Since its merger with Banco Regional received approval from the Central Bank of Paraguay in June 2023, Irish-majority-owned Sudameris Bank has laid off over 600 employees while shutting down several branches across the country. The layoffs include many workers with decades of service, thereby contravening Paraguayan Banking Fund Law which mandates retirement for employees dismissed

cross-posted from: https://sh.itjust.works/post/5038276

Intimidating staff into accepting voluntary retirement to sidestep proper compensation. Bank has reportedly terminated employment of pregnant workers and union leaders, violating rights to freedom of association