Mexico's Nacional Monte de Piedad, one of the country's oldest pawn shops, is going through a difficult period due to a strike by its employees. The institution is trying to find a way out of the situation by launching a new branch format and offering terms to end the strike.
The Nacional Monte de Piedad is launching a project called "Montecitos de Piedad". These will be small, compact branches, similar to those of competitors in the market. "If you go to our competitors, you will see much more compact branches," said Achar Camacho.
To manage the new "Montecitos," three new positions will be created: Operational Assistant, Commercial Manager, and Operational Manager. These new employees will work in the small branches without affecting the staff of existing large branches. Salaries for these positions will be negotiated with the unions.
Aldo Achar emphasized the need to end the strike to begin the "Montecitos" project, which will undoubtedly be a relief for Mexicans. Currently, there is no exact date when all 301 Monte de Piedad branches will resume full operations. However, the institution has offered the strikers a bonus equivalent to 52% of their salary to end the strike, as well as a direct salary increase of 5.3%. This is intended to guarantee labor stability and operational continuity for the Nacional Monte de Piedad.
"The increase goes directly to the salary and affects all benefits: Christmas bonus, savings funds, and other benefits, which increases the total annual income of workers. Even so, we reiterate our willingness to dialogue and call on the union to approach and resolve the issue," the statement said.
In light of customer uncertainty regarding their collateral items, Achar Camacho assured that all items, jewelry, and other articles will remain safe. "The items are 100% secure. They cannot be seized or taken," he clarified.
This new format is especially relevant for seasons like Holy Week, when thousands of Mexican families face higher expenses for travel, transportation, or recreational activities and turn to pawnbroking as a quick way to self-finance.
The Nacional Monte de Piedad, with 251 years of history helping Mexicans, is in one of the most difficult moments of its recent history. The institution is not only trying to resolve the strike but is also shaping a strategy to better compete in the market by opening smaller branches.
Currently, around 301 Monte de Piedad branches remain closed nationwide due to the labor conflict, which has halted thousands of operations and limited Mexicans' access to this type of financing. Despite this, Monte de Piedad continues to bear significant costs, such as paying rent for its properties: "There is significant reputational damage. We are very sorry about the situation they are going through; surely many need them to continue self-financing; but it is important that they know their items are safe," he added. Achar also specified that before the strike, the national pawn shop conducted about 600,000 operations per month, and Mexicans still need help, but there is no way to assist the public at this time.
