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

tjdavis posted a video

Prince - Cinnamon Girl (Official Music Video)

"Cinnamon Girl" from 'Musicology' (2004)☔️ Listen to more Prince here https://lnk.to/PrinceStream📺 Watch all the official Prince videos here http://bit.ly/P...
4 hours ago
MAC posted photos
4 hours ago
FREEDOMROX posted a blog post
6 hours ago
MAC posted a discussion
8 hours ago
Doc Vega posted blog posts
11 hours ago
rlionhearted_3 commented on rlionhearted_3's photo
yesterday
rlionhearted_3 commented on rlionhearted_3's photo
Thumbnail

Hooray for Russian TV

".Supposedly, Russians have evidence that links Burisma and the recent terror attacks. Burisma for…"
yesterday
cheeki kea commented on rlionhearted_3's photo
Thumbnail

True Story

"Well I bet Iran remembers that true story. ~ and there in lies the problem...because they would…"
yesterday
cheeki kea commented on rlionhearted_3's photo
Thumbnail

Hooray for Russian TV

" That one is a shocker! even for them. What could have driven and compelled them to dredge up…"
yesterday
cheeki kea commented on tjdavis's video
Thumbnail

It Wasn't Fauci: How the Deep State Really Played Trump (mini-doc)

"Excellent video. I hope this one makes it to the features page it sure deserves it. Answers a lot a…"
yesterday
cheeki kea favorited tjdavis's video
yesterday
tjdavis posted videos
Wednesday
Doc Vega posted blog posts
Tuesday
tjdavis posted a photo
Tuesday
rlionhearted_3 posted photos
Tuesday
MAC posted a video
Tuesday
rlionhearted_3 commented on cheeki kea's photo
Thumbnail

who would win a debate?

"It gets waaayy worse. TPTB want to normalize this gross fat bullshit."
Monday
Doc Vega posted photos
Monday
cheeki kea posted photos
Monday
cheeki kea commented on cheeki kea's photo
Monday

© 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