How would you like a 37% pay cut??I find this slightly horrific. Slide 8 - breakdown of NDCC - one of the 'positives' was a drop in labour costs from $.81/lb to $.51/lb with this explanation: 'Lower labour costs driven by Cuba’s currency unification'. So basically this currency unification caused a massive devaluation and now our workers previously living on approx $65 usd a month now getting 2/3 of that. Sick. It's like a forced labour camp basically.
Maybe a 'positive' though same slide is that they are finally fixing stuff... addressing neglected maintainance. maintainance went up from $.95/lb to $1.28. I had always thought there'd be a 'hangover' from all the years of belt tightening. So glad they are dealing with it plus spending on capex. Sad for the cuban worker now 37% worse off