Goodyear Venezuela employees get tyre severance package

Numerous news sources are reporting that, following the closure of Goodyear’s Venezuela factory, ex-employees are being given 10 tyres each as part of their severance payment.

According to the BBC “quality tyres are valuable on the black market, in a country where there is a chronic shortage of all sorts of goods”. While it may sound like an unusual way of ending an employment relationship, with the Venezuelan currency, the Bolivar, having plummeted in value against the dollar, it is likely to be significantly more useful than cash.