Donnelley Closes Argentina Plant, 400 Jobs Lost

The company had recently offered a deal to let 123 workers go and cut salaries, but the measures were rejected by the federal and provincial Labor Ministries.

Argentine President Cristina Fernandez de Kirchner turned the relatively small business footnote in her country into a round of political football, calling the closure a "real case of fraudulent behavior and an attempt to intimidate the population," she was quoted as saying by Reuters. As such, Kirchner said that Donnelley may be in violation of the country's anti-terrorism law, enacted in 2011.