Austerity could save Pemex

The complicated economic situation at Pemex requires a comprehensive plan to improve its finances , which will likely affect a large number of its workers .

Today, EL UNIVERSAL reveals that this is the case. In 2018 , the state-owned oil company had 128,021 workers but this year, Pemex plans to operate with 111,855 workers, which means around 16,000 jobs are at risk.

Also, its Administration Council set up a budget limit for salaries, benefits , and the payroll for its retired workers at MXN $90,837 million, MXN $3,000 million less than in the previous year .

Experts

explain that Pemex 's main issues are fiscal , such as the excessive tax contributions imposed to it, as well as the scarce official financial support , but one of its heaviest burdens are the working liabilities , the money required to handle pension and retirement requests.

Previously, EL UNIVERSAL has revealed that in 2018, Pemex requested MXN $63,873 million to cover the p ensions of 97,474 retired workers ; on average, each retired Pemex worker earns MXN $54,000 per month , a considerably higher amount than the one received by the majority of retired workers in the country, which also seem out of place for a company that is considered as the most indebted company in the world.

For this year, Pemex is also adopting other actions to save resources, such as attending fewer seminars, congresses, and conferences , a lower number of attendants as part of the commissions, and the prohibition of purchasing first class and business class plane tickets.

In the current state of Pemex , any of these measures are like oxygen for someone who is barely breathing.

Pemex's union

will have to cooperate to revert the situation in a company that has always provided them with the best benefits and salaries . Numbers from September 2018 show that the total of retired workers increased 40% in the last six years, which means Pemex will soon have a retired worker per each active one , something that creates higher economic risks .

For Pemex , a lifesaver could be relying on the efficiency , quality , and productivity of its employees . It's time they show solidarity with the company. A broke Pemex is not beneficial for them or for anyone.

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