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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Alsea, S.A.B. de C.V.    ALSEA *   MXP001391012

ALSEA, S.A.B. DE C.V.

(ALSEA *)
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Starbucks Latin America franchise holder suspends 1,600 jobs in Chile

04/04/2020 | 02:08pm EST
Customers pass by the logo of an American coffee company Starbucks inside a coffee shop in Rio de Janeiro

The company that holds the franchise for Starbucks in Chile has suspended the contracts of 90% of its employees in the country, where most cafes are shut as part of efforts to fight the coronavirus epidemic, local media and a union said on Friday.

Mexico's Grupo Alsea said it would honor March salaries and pay Chilean Starbucks workers a spot payment equivalent to 10% of their base salaries in April, according to a statement sent to Reuters.

The company said it had made the decision after a new law came into force in Chile that allowed companies to suspend labor contracts during the health crisis and for their workers to receive a limited unemployment benefit with the expectation of their jobs being revived once normal working conditions are restored across the country.

Grupo Alsea said the move was a "responsible measure" aimed at safeguarding positions across more than 120 outlets around Chile and it hoped to restart the contracts once the coronavirus crisis had passed, the statement added.

A union representing Starbucks workers said in a statement sent to Reuters that the suspension affected 1,600 people, around 90% of the franchise's Chilean workforce.

Andres Giordano, president of the union, said the company continued to do business through deliveries and its "arbitrary" action, without discussion with the union, had "heightened uncertainty for workers and their families."

(This story corrects to reflect 10% April payment is not legal salary.)

(Reporting by Aislinn Laing; Editing by Jane Wardell and Daniel Wallis)


© Reuters 2020
Stocks mentioned in the article
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ALSEA, S.A.B. DE C.V. 2.52% 28.44 End-of-day quote.-42.93%
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STARBUCKS CORPORATION 2.66% 102.91 Delayed Quote.12.50%
THE NEW HOME COMPANY INC. -0.35% 5.67 Delayed Quote.21.67%
All news about ALSEA, S.A.B. DE C.V.
04/04Starbucks Latin America franchise holder suspends 1,600 jobs in Chile
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Financials
Sales 2020 39 776 M 2 009 M 2 009 M
Net income 2020 -3 808 M -192 M -192 M
Net Debt 2020 51 566 M 2 604 M 2 604 M
P/E ratio 2020 -5,23x
Yield 2020 0,00%
Capitalization 23 849 M 1 199 M 1 205 M
EV / Sales 2020 1,90x
EV / Sales 2021 1,45x
Nbr of Employees 66 006
Free-Float 65,7%
Chart ALSEA, S.A.B. DE C.V.
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Technical analysis trends ALSEA, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 27,04 MXN
Last Close Price 28,44 MXN
Spread / Highest target 40,6%
Spread / Average Target -4,92%
Spread / Lowest Target -47,3%
EPS Revisions
Managers
NameTitle
Alberto Torrado Martínez Chairman & Chief Executive Officer
Rafael Contreras Grosskelwing Chief Financial Officer
Salvador Aponte Escalante Director-Information Technology
Xavier Mangino Dueñas Secretary & Director
Armando Torrado Martínez Director
Sector and Competitors
1st jan.Capitalization (M$)
ALSEA, S.A.B. DE C.V.-42.93%1 199
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CHIPOTLE MEXICAN GRILL INC.56.34%36 620
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RESTAURANT BRANDS INTERNATIONAL INC.-7.76%17 876