Things are officially over for General Motors and the country of Venezuela. Following authorities’ measures to seize its manufacturing plant illegally from GM, the automaker has ceased operations entirely.
And, by ending its operations in Venezuela, it means the automaker’s workforce will no longer be needed. According to Autoblog, all 2,678 GM employees at the Valencia-based manufacturing hub were told via a text message they had lost their jobs. Additionally, they were told their severance pay had been deposited into their bank accounts. And that’s that.
Before authorities seized the plant, it was reported that union members had actually taken control of the facility after a legal dispute between Venezuelan dealer groups and GM. Following GM’s decision to appeal the lawsuit to the government, authorities seized the plant instead.
GM once built a handful of vehicles in the country of Venezuela but as the economic crisis began to become worse, GM reduced output to a near minimum. Despite GM vowing to defend its rights, its legal options are few.
Details surrounding the layoffs and how much severance was paid out have not surfaced.
Comments
Who cares, Make cars in America again, just like Russia, Cuba, North Korea, Venezuela is just another example of what the planned economies do to nations.
Same thing will happen in China where GM sells the majority of their cars. They have a meticulously planned economy and they’re winning HUGE. In fact, the US is totally dependent on China.