La Libra, Facebook's digital currency, announced for 2021 in reduced format

The launch of Facebook's digital currency, Libra , could take place in 2021. The project may benefit from favorable factors in the global economy, but regulators will have to be convinced first.  Facebook could launch Libra, its digital currency in 2021, we learn from the British media Financial Times, which quotes people close to the process. The product is expected to arrive in a limited version, after the project has met with great aversion from regulators, including in the United States, the country where the headquarters of the social media management company are located. The stakeholder association behind this digital currency project is now planning to launch a single version of Libra that will itself be pegged to the dollar, at the rate of one unit of US currency for each Facebook digital currency . “The other forms of currencies will be deployed at a later stage,” the FT source added. The exact launch date will depend on when the project

Prevost: workers' union regrets massive layoffs

The crisis is hitting the bus manufacturer Prévost, which is cutting 300 jobs at its Sainte-Claire plant in Chaudière-Appalaches. It is therefore a third of the 900 workers in the factory who will lose their livelihood in the coming weeks. "The demand for intercity buses has dropped by 60 to 65% in North America," said Emmanuelle Toussaint, vice-president at Volvo, the parent company of Prévost.  The Unifor Quebec union was sorry on Saturday for the dismissal of 300 of the 850 workers at the Prevost plant in Sainte-Claire, despite efforts to preserve their jobs.
Prevost: workers' union regrets massive layoffs

"The federal government's wage subsidy has allowed us to limit layoffs, but it's still a temporary measure," she adds. "We expect the crisis to last for more than a few months. Probably until the end of the year. "  Few customers have canceled orders so far, but many have postponed bus deliveries slated for 2020, said Toussaint. In December 2019, Prévost announced an order for $ 260 million, the largest in its history, for 307 coaches to be delivered from 2020 to 2022. The buyer is the Metropolitan Transportation Authority of New York, which is currently experiencing significant financial difficulties due to the unprecedented drop in ridership.
Production has been suspended since March 24 at the Prévost plant. Activities will not resume until June 1.

For the moment, the other subsidiary of Volvo in Quebec, the city bus manufacturer Nova Bus, does not intend to lay off among its approximately 1000 employees of Saint-Eustache and Saint-François-du-Lac . Return to work will begin on Monday. Transit companies have plummeted by more than 80% due to the pandemic and containment measures, but most of them continue to take possession of the buses they ordered. "There are even companies that have just launched tenders for deliveries in 2021 or 2022," notes Emmanuelle Toussaint. Nova Bus remains cautious, however, being well aware of the financial fragility of many of its customers.

“The backlog having collapsed by 65% due to the effects of COVID-19 on the tourism and culture sectors, the employer says it is forced to lay off workers. We suspect, no one is traveling by bus or will do so in the short and medium term, "said union representative François Gignac.

All workers at the factory had been receiving the Canada Emergency Wage Subsidy (SSUC) since mid-March. "As the situation is likely to persist over time, the company decided to lay off workers in order to preserve their liquidity given the costs inherent in SSUC, the pension plan, group insurance, holidays, etc. . ”, Said Mr. Gignac. The decision to proceed with the layoffs came from the company's senior management in Sweden, said Unifor. The union explains that workers in Prevost offices will be less affected. Out of a total of 250 workers, around 25 will be affected by the cuts. "We are obviously worried because no one knows when the situation will get better. We are working to offer help and support as much as possible in the circumstances, ”concluded Mr. Gignac.