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: 68

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

cheeki kea commented on cheeki kea's blog post The saddest post I've ever read. ( vaccine victim speaks out. )
8 minutes ago
cheeki kea posted a blog post

The saddest post I've ever read. ( vaccine victim speaks out. )

You know what, I think if God had a message for us here it would be the one that goes... Be as Wise…See More
1 hour ago
Burbia commented on Burbia's group The Comment Section is Closed
"So far, there are 14 comments here for the video about Iran's influence on Generation Z and…"
17 hours ago
Doc Vega posted blog posts
17 hours ago
tjdavis posted videos
yesterday
tjdavis posted photos
yesterday
Larry Harmen posted blog posts
yesterday
Larry Harmen posted videos
yesterday
Doc Vega posted blog posts
yesterday
cheeki kea commented on Less Prone's photo
Thumbnail

Rebuilding Khazaria

"Perhaps Russia and Ukraine should Rebuild the Tartarian Empire. Then game over. "
yesterday
cheeki kea commented on FREEDOMROX's blog post NEVER FORGET! WHO and UN charged with GENOCIDE in 2009
"This is Why the outlier countries Must Stand Up And Fight Them Off on all fronts at all times. For…"
yesterday
cheeki kea posted a blog post

Dr. Aseem Malhotra's Explosive Court Testimony on COVID "Vaccines"(UPDATED)

 Doctor Malhotra drops arsenal of truth bombs on Helsinki. A spectacular display. Here are few snip…See More
yesterday
Less Prone favorited Doc Vega's blog post They Want to Murder Trump!
Tuesday
Less Prone posted a photo
Tuesday
rlionhearted_3 posted a photo
Tuesday
Doc Vega posted blog posts
Monday
Doc Vega commented on tjdavis's photo
Thumbnail

reminders

"Wow how ironic! "
Sunday
Less Prone commented on KLC's group MUSICWARS
"Walk like a Joe Biden"
Sunday
Less Prone favorited Sandy's photo
Sunday
Less Prone favorited cheeki kea's photo
Sunday

© 2024   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