Monday, October 9, 2017

To Survive in Venezuela, Multinationals Slash Operations and Payrolls to Bare Minimum


Multinational companies in Venezuela are starting to look like the living dead versions of what they once were, as the country continues to flounder in an economic crisis marked by near-hyperinflation and scarcity. Most of these companies are operating at their minimum capacity due to a lack of raw materials, a new report from Reuters revealed, in addition to neglect from President Nicolás Maduro’s regime. The report focused on companies such as Ford, Fiat Chrysler and Nestlé, whose employees sometimes wait up to 10 months to return to work when shortages cause a stop in production. More…

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