This week’s global newsArgentinian employees part-paid in bonds Staff in Argentina are not receiving all of their salary in cash. From lastmonth 150,000 staff who earn more than $740 (£510) a month are having part oftheir salary paid in one-year bonds, dubbed patacones, because Buenos Airesstate’s coffers are empty. Fast food chain McDonald’s is planning to accept thebonds for a meal deal. The bonds should earn 7 per cent interest and beredeemable in a year, but staff are in a rush to spend them fearing that theywill devalue. Diversity scheme hits back at Toyota’s critics Toyota in the US has launched a diversity initiative to fend off criticismof racism. The car maker has set up a diversity advisory board and also plansto set up a training centre on the east coast to recruit unemployed black andethnic minority people for the vehicle services industry. The policy will havebenchmarks and managers will receive incentives to ensure their commitment.Toyota was criticised earlier this year for an advert which showed an image ofa gold Toyota as a tooth in a close-up of a black man’s mouth. French staff told jobs are safe in Orangina sale Cadbury Schweppes has agreed not to make any French employees redundant forat least a year after last month’s acquisition of Orangina. The drinks andsweet maker made the deal with French unions and work councils after its £443mpurchase of the soft drinks company from Pernod Ricard. Cadburys has alsoguaranteed a year’s salary for any French workers made redundant at the end of2002 as part of the deal, which will be examined by competition officials inBrussels. Recession fears as jobs are cut in Germany Germany is on the brink of a recession, according to figures released inJuly. The German government has twice scaled down its growth forecast, from2.75 to 2 per cent and its present growth rate of between 1.5 and 2 per centalso looks unrealistic. Dresdner Bank, the lorry manufacturer MAN and softwarecompany Infineon were among companies that shed 17,000 jobs in July adding tounemployment, which now stands at 3.86 million, 9.3 per cent of the workforce. GlobalOn 4 Sep 2001 in Personnel Today Previous Article Next Article Related posts:No related photos. Comments are closed.