Company: TCMFF
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001104659-25-019133
Chunk: 32

Company: TELECOM ARGENTINA SA
Filing Date: 2025-02-28
Form: 20-F
Item: Item 3
Chunk 32
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 requiring private sector companies to maintain certain salary levels and provide their employees with additional benefits. For example, on December 13, 2019, the Argentine government declared a labor emergency for a 180-day term. In this context, the Argentine government doubled the amount of the statutory severance payments payable to employees hired before December 13, 2019, and dismissed between December 13, 2019, and June 13, 2020. The layoff prohibition was extended pursuant to Decree No. 528/20 and Decree No. 961/20. Decree No. 39/21, in effect until April 27, 2021, extended the prohibition of dismissals without just cause or based on lack or reduction of work and force majeure, as well as the prohibitions to suspensions for economic reasons, except for suspensions made under the terms of Section 223 bis of the Labor Contract Law (regarding agreements between employers and employees later approved by the Ministry of Labor, made either individually or collectively with the purpose of suspending employment for lack or reduction of work due to no fault from the employer), which were not affected by the prohibition.

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PART I - ITEM 3 KEY INFORMATION   TELECOM ARGENTINA S.A.
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Moreover, in September 2022, the National Labor Court of Appeals (Cámara Nacional de Apelaciones del Trabajo) in Buenos Aires issued Resolution No. 2,764, which modifies the way labor credits are claimed before the National Labor Court for the Federal Capital (Justicia Nacional del Trabajo de la Capital Federal). As a result of this resolution, interest should be accrued on an annual basis for a given labor credit claim as of the date such claim is filed and until the claim is effectively cancelled (with some variants whether it is in first or second instance courts and - even - between the different courts of law). In many cases, formulas are used to limit the aforementioned interest calculation. On February 29, 2024, the Supreme Court of Argentina in re “OLIVA, FABIO OMAR vs. COMA S.A. on/ DISMISSAL” decided that the calculation of compound interest in this case resulted in unjust enrichment and emphasized that the Civil and Commercial Code of Argentina does not authorize the calculation of compound interest.
Chapter 4 of the Decree of Necessity and Urgency No. 70/2023 substantially amends certain labor laws. Mainly, it eases the conditions