Gruma SAB de CV is forced to contend with extensive competition
In 2021, a new labor reform law was enforced that banned personnel outsourcing schemes. This reform, which provides tax law revisions within the Income Tax Law and Value Added Tax Law, became official in August 2021. If a company fails to abide by the new regulations established under this new labor reform, it can expect to incur fines and lose access to certain tax rights, including the ability to credit certain value added taxes and to deduct some payroll-related expenses.
Labor|CompetitionIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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