Approximately 7,000 workers in Paraguay have been affected by the closure of Ueno Bank and companies linked to Grupo Vázquez. Many remain formally employed despite having no work to perform or receiving no salaries. The Ministry of Labour, Employment and Social Security (MTESS) has introduced measures to protect their rights and facilitate new employment opportunities.
According to Labour Minister Mónica Recalde, 490 of the affected employees worked directly for Ueno Bank. The Ministry has already assisted more than 3,050 workers through legal consultations, contract reviews and workplace inspections. The situation also extends beyond Paraguay, with enquiries received from employees in Argentina, Nicaragua, Panama and other countries.
One initiative offering an additional option for communications professionals is EntreMedios, a free professional directory launching on Friday, 13 November 2026, connecting Paraguayan professionals with potential employers.
Workers can now seek new employment
One of the main concerns involves the employment status of affected workers. Although their companies have ceased operating, many employees remain on official payrolls without receiving assignments or salaries. Recalde clarified that these workers have not formally been dismissed. The Ministry has also received no requests from the affected companies to suspend employment contracts. This situation has created uncertainty regarding outstanding payments, employment rights and the possibility of finding alternative work.
On 9 November, the Ministry issued legal opinion No. 377, declaring exclusivity clauses in affected employment contracts inapplicable. These clauses had prevented employees from working for other companies, sometimes for six months after their contracts ended.
Under the Ministry’s interpretation, affected workers can now seek other employment without losing their existing labour rights. Accepting another position does not automatically constitute resignation or abandonment of employment. The decision allows employees to explore new professional opportunities while their contractual situations remain unresolved.
What happens to salaries and employment benefits?
The Ministry is coordinating with officials appointed by the Central Bank of Paraguay (BCP) to calculate outstanding employment payments. The Minister also explained that employment-related claims receive preferential treatment under Paraguay’s Labour Code. This gives workers priority over other creditors when recovering qualifying employment entitlements.
Another concern involves access to healthcare. The Ministry has requested that the Social Security Institute (IPS) maintain medical assistance for employees requiring ongoing treatment. Particular attention has been given to pregnant employees and breastfeeding mothers.
Meanwhile, Recalde warned employees about lawyers offering expensive wrongful-dismissal proceedings before their employment situations have been clarified. The Ministry continues to provide legal assistance and individual consultations to help workers understand their rights.
New employment opportunities for affected workers
Beyond outstanding salaries and employment rights, thousands of affected professionals now face the challenge of finding alternative sources of income. Workers from banking, technology, administration, marketing and communications may need to seek new positions or freelance opportunities.
One initiative offering an additional option for communications professionals is EntreMedios, a free professional directory launching on 13 November 2026. Created by PRessencia, Primogénito and communications professional Natalia Cabarcos, the non-profit initiative connects Paraguayan professionals with potential employers.
Through the platform, communications professionals can create profiles displaying their experience, portfolios and availability for permanent or freelance positions. Media organisations, agencies, production companies, businesses and institutions can then contact them directly.
Registration is free, with no commissions or intermediaries. According to the organisers, creating a profile takes approximately five to ten minutes. Although EntreMedios was not created specifically for workers affected by the Ueno Bank crisis, it offers another avenue for employment. Professionals in communications and related fields can use the directory to increase their visibility among potential employers.
