Layoffs in Costa Rica: Wal-Mart, Scotiabank and Florida

Florida Beverage laid off 136 people, Wal-Mart 60 people and Scotiabank 10% of its payroll, as measures to face the economic crisis.

Monday, March 2, 2009

At Wal-Mart, the lay offs were in administrative levels, as part of the 200 jobs that it reduced at a regional level. The company, however, plans to create 1000 jobs in the region through the opening of 22 new stores.

Both in Scotiabank and Florida Beverages, the cuts were across all organizational levels.

According to the article by Mercedes Agüero in, in the case of Florida Beverages: "... the 5% reduction in payroll is part of a series of measures to address the effects of the crisis and a decrease in sales due to the new Traffic Law coming into force. "

More on this topic

Companies Hiring Less Staff

August 2009

Human Resources companies report a 50% decrease in middle management hiring.

Eric Quesada Ramírez, Manpower's regional director, said that salaries have also been affected.

"Where companies offered a monthly salary of $1.000 for management services, they are now offering $700", told Quesada to "If the worker wants more than these $700, then the company looks for another candidate".

Guatemalan Employers Foresee More Layoffs

March 2009

The survey conducted by Manpower shows that 7 out of 10 companies have frozen hiring and that 1 in 10 are planning staff reductions.

According to what was published in, the Manpower "Employment Expectation Survey" revealed: "Only 12% of the 620 employers surveyed plan to hire staff during the April-June quarter against 13% that anticipate layoffs, a net tendency of -1%.

Scotiabank Cuts 200 Jobs in Costa Rica

February 2009

The bank announced that the measure is necessary in order to lower costs in the face of the difficult economic situation.

The institution bought Interfin Bank two years ago and, with it, a great number of branches, some of them less than two kilometers away from one another.

ILO expects more unemployment in the region

January 2009

According to the latest report from the International Labour Organisation (ILO) less jobs will be created in 2009 due to the economic crisis. reports: "With growth forecasts of between 2% and 3% compared to the 5% average for the last five years, "the generation of jobs will be not be enough to meet the demand for labor and, hence, the levels of unemployment will probably increase" in the region, according to the Labor Panorama 2008 report".

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