The company Ledesma, with its sugar business as the most significant for the firm, has decided to implement a cost reduction plan. This measure comes due to the decreasing pressure on the costs of its sugar business, which experienced a significant increase in the last year, while sugar prices have shown a downward trend.
In the 2024/25 fiscal year, Ledesma paid $124.061 million in its own and third-party taxes. The company was affected by the decrease in international sugar prices, which has complicated the outlook for the company. As an example of the challenges it faces, Ledesma mentioned that salaries increased by 220% due to collective agreements, while shelf prices of sugar decreased, according to INDEC data.
In light of this situation, Ledesma has stated that it is making all necessary efforts to minimize the impact on its employees in the country, which number 6,000. The company trusts that the measures taken will allow it to regain competitiveness, resume growth, and sustain the necessary investments to continue operating in a challenging economic scenario.
As part of this cost reduction plan, Ledesma has proceeded with the termination of 165 employees, which represents less than 3% of its total workforce. The company has assured that the affected workers will receive their full compensation in accordance with the law. Additionally, Ledesma has had to face increases in logistics, services, and taxes to cope with the current economic difficulties.
