Mobile personnel board cuts jobs in Mexico, Venezuela
A mobile personnel board has lost nearly 50 jobs in Venezuela, the country’s biggest economy, according to the countrys labour ministry, in a move that may further strain a country already suffering from severe economic problems.
The ministry said Tuesday that the board, which manages the salaries of about 300,000 public servants, had been notified by the countrywide ministry of labour that it had lost nearly $1.2 billion due to the cuts.
The loss of the jobs comes as Venezuela struggles with a shortage of cash, as inflation hits 200 percent and the government faces a growing deficit of about $3 billion.
In January, the board cut the salaries for 2,000 workers, citing a shortage in funds.
The government has promised to make payroll payments in October and is now working on an economic plan that would boost spending by $5 billion.
But the government has said it is unable to provide the necessary funds to meet the shortfall.