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: 73

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

Doc Vega posted a blog post

Why Did We Americans Become so Cynical? At Least Those Who Think

 Cynicism is a form of counter intelligence. It materializes when the general public has been…See More
12 hours ago
tjdavis posted a video
yesterday
Doc Vega posted blog posts
yesterday
cheeki kea commented on Snakedaddy's album
Thumbnail

a soon shit

"lol at first I thought this was an acronym or phase meaning an urgent trip to the lavatory but alas…"
yesterday
tjdavis posted a video

Europe will be an Islamic Muslim State

සිංහලෙන් කියවන්න http://sinhalabuddhist.comSlavery, Terrorism and Islam: The Historical Roots and Contemporary Threat.. Adapted from Dr. Peter Hammond's book...
Monday
Sandy posted a video

A conversation with Charlotte Iserbyt

“The Deliberate Dumbing Down of America — A Chronological Paper Trail”, will change forever the way you look at your child’s education. Written by whistleblo...
Monday
Doc Vega posted a blog post

Realizations

Used to think I had something special to bringThat I was seeing what others weren't seeingThe…See More
Sunday
Burbia replied to cheeki kea's discussion Tartaria
"I forget some written language reads from right to left. The various calendars used up to now from…"
Sunday
Less Prone favorited Burbia's blog post Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.
Sunday
Less Prone commented on Burbia's blog post Mystery illness strikes Russia with fever, blood symptoms, and no cure in sight.
"Sounds like a bioweapon"
Sunday
Doc Vega commented on Doc Vega's blog post Through Her Disguise
"cheeki kea Thank you so much your words are  always inspirational. But, when the word joy…"
Sunday
Sandy posted a photo
Sunday
cheeki kea replied to cheeki kea's discussion Tartaria
"The early writing."
Saturday
cheeki kea commented on Doc Vega's blog post Through Her Disguise
"Spoken like a true poet. I wanted to reply to your comment but had to think on it for awhile. My…"
Friday
Doc Vega posted blog posts
Apr 10
Snakedaddy posted a photo
Apr 10
Snakedaddy commented on Snakedaddy's album
Thumbnail

a soon shit

"a soon shit"
Apr 10
Snakedaddy posted a photo
Apr 10
cheeki kea replied to cheeki kea's discussion Tartaria
"Thanks for reply Burbia. Language wise there appears to be Hungarian sub branch component to it…"
Apr 10
tjdavis posted a video

Passing Strange- Keys/ It's Alright

I do not own the rights to this video... But it is Helluva awesome.
Apr 9

© 2025   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