Femsa to lay off 2,000 Venezuela workers amid crisis

Coca Cola Femsa is preparing to lay off 2,000 of the 4,800 total workers at its Venezuela soft drink operations due to falling demand in the crisis-stricken country, a union leader said, while the company acknowledged it was “revising” output. The move makes Femsa, one of the largest soft drink bottlers in the world, the latest multinational to downsize in the OPEC country, where a fifth year of recession and hyperinflation topping 400,000 percent annually have dented consumer demand and prompted nearly 2 million Venezuelans to migrate since 2015.More…