Correa announces limit settings to private sector wages

President Rafael Correa reported yesterday, during his National Address that will set a limit on wages in both the public sector and the private.

These reforms are part of the changes that will have the draft of new Labour Code prepared by the Executive. Correa said the reform will serve “to reduce inequality.”

“The manager of the telephone company or the bank wants to make $ 60,000, fine, but 20 times what up win the last of their workers,” said.

In the public sector, where the limits are already set, there are still exceptions in certain state enterprises. “We will be much stronger in it,” said the president.

He also announced that the new Code will limit earnings and pensions.