Polar, one of Venazula’s top food and beverage companies announced that by April 29th, they will no longer be producing one of Venezuelas most consumed beers. The company says it’s running out of supplies and needs to raise the currency to order import more ingredients from foreign suppliers.
Polar released an official statement saying that for now the company has exhausted payment options with suppliers and that the Venezuelan government did not print enough currency for trading. There is speculation from analyst David Osio that Polar is hoarding supplies to create economic unrest and upheaval. This is not the first time the food and beverage has been accused of this practice.
This news according to Osio will effect about 10,000 employees. How long or to what degree has yet to be answered by Polar, though, according to Venezuelan law, mass firing is prohibited. Polar has been in the news before due to unjust treatment of their workers. There have been examples of company presidents who were overthrown by the workers and the companies were turned into worker run businesses.
Whatever is really going on with the state of Polars financial affairs, they might want to treat their employees with respect or the President of Polar may find themselves out of a job.