Now that Kellogg has laid off 300 hundred people in Venezuela what are the chances we will see those jobs return here?
Or will those at the top find another poor country where people are willing to work for barely a little more than nothing just to survive?
That facility supplied South America. It made sense for it to be in South America. Venezuela has, until recently, been a wealthy country due to its oil supply. Hugo Chavez is deified because of the money he had to throw around for social programs. The price of oil dropped, though, and because they largely had all of their eggs in that basket, the economy is tanking. Their money is basically worthless. There's uniform panic. I can't imagine an environment that unstable makes sense to any company.