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LatinNews Daily - 28 August 2018

In brief: Venezuela

Venezuela: The Sindicato de Trabajadores de Pirelli en Venezuela, the local union of workers employed by Italian tyre manufacturer Pirelli, have denounced that the firm’s plant in the country has been closed down without notice. Union members say that the plant has been closed by the owners following last week’s announcement of new economic measures by President Nicolás Maduro, including the 35-fold increase of the minimum salary as part of a bid to address the country’s economic crisis. The workers expressed concerns that the plant will now not reopen leaving 5,000 people out of a job. Pirelli has yet to make any official announcement about its Venezuela plant, but last month it warned that due to the high production costs and lack of raw materials in Venezuela it had to reduce its production at the plant to just 7% of its full capacity.

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