Venezuela Cutting Jobs

Venezuela has began to run out of money very quickly according to a report on Slideshare.net. The country is beginning to lose jobs at a rapid rate due to its overall lack of money and this is causing a large amount of concern for its citizens. Many of Venezuela’s oil companies have began to give up as the funding for their businesses have ran out.

One of these companies, PDVSA has racked up billions of dollars in unpaid bills to service providers because of the lack of ability to make any money from the field. Schlumberger, another major oil field for the country has stated that they are unable to increase their accounts due to the lack of funding and that while the attempt to pay the company in any number of other ways has been appreciated they have to close due to a loss of profit.

David Osio’s outlook for the Venezuelan oil field is certainly not a positive one at this point, with so many companies pulling out of the field it’s going to be a tough road for Venuezuala’s citizens.

Source:

Schlumberger Cutting Venezuela Work Because the Country Has No Cash