Matt Kimberley profile picture Matt Kimberley 2 months ago 22
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Tyre Factory Staff Given 10-Tyre Redundancy Package

As Goodyear closes its operations in crisis-hit Venezuela, staff are being made redundant with a package of 10 tyres each

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Tyre Factory Staff Given 10-Tyre Redundancy Package - News

Staff at a Venezuelan tyre factory have been made redundant – and their redundancy package consists of 10 tyres from their former employer, Goodyear.

Fortunately for the stricken workers, who now join the massed ranks of Venezuela’s unemployed, premium tyres have become extremely valuable on the black market, reports the BBC, giving each worker the chance to sell the tyres and feed their families – for a while, at least.

Tyre Factory Staff Given 10-Tyre Redundancy Package - News

The country’s economic crisis and resulting civil unrest have become so severe that the tyre-maker is pulling out of the country altogether – following Kellogg, Kimberly Clark and several airlines.

Goodyear released a statement yesterday confirming the move. It said:

“[Goodyear] has made the difficult decision to stop producing tyres [in Venezuela].

“Our goal had been to maintain its operations, but economic conditions and US sanctions have made this impossible.”

Sanctions placed upon dozens of high-profile Venezuelans by the US have contributed to the collapse in the South American country’s economy. The US says the targeted individuals are guilty of corruption, drug trafficking and crimes against human rights.