Mexican Media Brands
GM Trims 13% of Its Workforce in Venezuela
General Motors Co. will lay off 446 of the 3,400 workers at its assembly plant in Valencia, Venezuela, according to the Associated Press.
#workforcedevelopment
Share
General Motors Co. will lay off 446 of the 3,400 workers at its assembly plant in Valencia, Venezuela, according to the Associated Press.
Car production in Venezuela plummeted more than 70% last year as local sales plunged to 99,000 vehicles from a peak of 492,000 in 2007. Foreign companies have struggled even to meet lower production levels because they can't obtain hard currency from the government with which to buy imported parts.
Several carmakers and U.S. suppliers began temporarily suspending production in the country last summer. Ford Motor Co. took an $800 million charge in the fourth quarter to write off its operations in Venezuela. Dana Holdings Corp. sold its Venezuelan factories to a local partner late last year.
RELATED CONTENT
-
Robotic Exoskeleton Amplifies Human Strength
The Sarcos Guardian XO Max full-body, all-electric exoskeleton features strength amplification of up to 20 to 1, making 200 pounds—the suit’s upper limit—feel like 10 pounds for the user.
-
On Zeekr, the Price of EVs, and Lighting Design
About Zeekr, failure, the price of EVs, lighting design, and the exceedingly attractive Karma
-
On The Jeep Grand Cherokee, 2022 Nissan Pathfinder, and More
An inside look at the Detroit Assembly Complex-Mack; a innovative approach to waste-free, two-tone painting; why a forging press is like an F1 car; and other automotive developments.
