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Apr
2017
Friday 21st
posted by Morning Star in World

US car giant General Motors said yesterday that it would no longer do business in Venezuela after its factory there was expropriated by the government.

The takeover — the latest response by the United Socialist Party government to the economic crisis it accuses Washington of orchestrating — went ahead on Wednesday as opposition parties staged regime-change protests across the country.

GM statement said yesterday that assets including vehicles had been taken from the plant in an “illegal” seizure, causing what it called irreparable damage to the company.

It said it would award its 2,700 workers in Venezuela redundancy pay “arising from the termination of employment relationships due to causes beyond the parties’ control” — if the government agreed.




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