Uruguay's Banco de Seguros del Estado is implementing a series of labor reforms at the state-run insurance company, El País reported, citing Guillermo Porras, company vice president.
The company's management made several amendments with the union AEBU including setting the maximum age for entry to the company at 55.
Other changes include introducing a new policy for promotions and advertising all open positions. The changes require final approval from multiple entities, including the Ministry of Economy and Finance, the report noted.
The company also plans to overhaul procedures in dealing with alleged staff irregularities. "We will try to achieve something as [all encompassing] as possible, to introduce changes that will speed up the penalty system a bit so that it is more dynamic," Porras said.
