Alfonso de los Heros

Alfonso de los Heros served as the Minister of Labor in Peru during the early 1990s and is best known for his pivotal role in reforming the country's labor laws, particularly the establishment of the Compensación por Tiempo de Servicios (CTS), which provided employees with a safety net by requiring employers to deposit funds for severance. His innovative approach aimed to alleviate the inefficiencies in employer-employee relationships and create a more productive labor market. His tenure was marked by significant economic reforms, although it was cut short when he resigned in April 1992.