GOODYEAR SHUTTERS VENEZUELA PLANT, GIVES OUT TIRES AS SEVERANCE

SOURCE: ZEROHEDGE

Venezuela's economic depression has claimed yet another victim, as Goodyear Tire announced it would shutter its Venezuela operations and lay off its entire local workforce, the latest foreign corporation to close shop in the crisis-torn county. On Monday, employees arrived at the company’s lone plant in the industrial city of Valencia to find it closed with a letter posted on the door. “Goodyear Venezuela has been forced to cease operations,” according to a copy seen by Bloomberg.

The departure of foreign companies from Venezuela is hardly surprising: in fact, it is remarkable that Goodyear manages to last as long as it did. What was more notable was how the company said goodbye to its employees one last time.  According to Eduar Bremo, a member of Goodyear’s factory-workers union, the company is not only paying (token) severance packages to its more than 1,200 employees but is also giving each 10 tires, which have become hugely valuable in the shortage-wracked socialist paradise. According to Bremo, the plant produced some 1,000 tires a day, but a lack of materials and soaring costs forced it to shut its doors.

Years of economic depression and a hostile government have forced companies such as Kellogg and Kimberly-Clark to abandon Venezuela as hyperinflation rendered most of their business conducted in local currency unsustainable.

Other companies have slashed their work forces and limited their product offerings as they hold out for better days. Last week, Ford Motor began offering its employees buyouts as it further scaled back its remaining Venezuela operations. It was unclear if Ford would give out cars as a parting gift to its local employees.

SHARE THIS ARTICLE...

Views: 79

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video

EXPLOSION of "DISLIKE" for India Explained

⭐ Go to https://tryfum.com/BLACKPIGEON or scan the QR code and use code BLACKPIGEON to get your free FÜM Topper when you order your Journey Pack today.------...
21 hours ago
Doc Vega posted blog posts
yesterday
tjdavis favorited Sandy's video
Friday
tjdavis favorited Sandy's photo
Friday
tjdavis favorited Sandy's photo
Friday
Less Prone commented on tjdavis's video
Thumbnail

COWBOY’S ISLAM SPEECH IS GOING VIRAL⚡️👏🏼 Islam Is Not Compatible With America

"Act now before it's too late. Stop the infiltration. Kick them out."
Thursday
tjdavis's video was featured

COWBOY’S ISLAM SPEECH IS GOING VIRAL⚡️👏🏼 Islam Is Not Compatible With America

❤️Help me reach 160K Subscribers! Subscribe Now and Turn On Notifications!🔥CHECK OUT THE MERCH HERE: https://ali-tabrizi-shop.fourthwall.comMY SOCIALS:🔥Ins...
Thursday
Less Prone favorited cheeki kea's video
Thursday
Less Prone commented on Doc Vega's blog post The Exposure of the 9-11 attacks as an Inside Job! In Plane SITE!
"They keep fooling us until they are stopped. But how?"
Thursday
Doc Vega's 7 blog posts were featured
Thursday
Less Prone favorited Doc Vega's blog post The Exposure of the 9-11 attacks as an Inside Job! In Plane SITE!
Thursday
Less Prone favorited Sandy's video
Thursday
Less Prone commented on Sandy's video
Thumbnail

Eric moutsos What is Walmart allegedly doing?

"Leavy your mobile "smart" phone home when shopping, or shut it down and put it in a…"
Thursday
Less Prone posted a photo

Very Stupid Poison Your Food.webp

Are we suicidal or what? Who is pushing this on us?
Thursday
Keisha Ruan's blog post was featured
Thursday
Less Prone favorited Sandy's photo
Thursday
Doc Vega posted blog posts
Thursday
Sandy posted a photo
Wednesday
Snakedaddy favorited Sandy's photo
Wednesday
Sandy posted a video

Eric moutsos What is Walmart allegedly doing?

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.
Sep 6

© 2026   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted