Collapse Economy: As Liberia’s Biggest Employer, Firestone Threatens To Leave

It is getting serious and indeed worrisome as the Liberian broken economy on a daily basis continue to fall, with the latest information that one of the country’s biggest investors and employers, Firestone Liberia has confirmed to authorities of the Liberian Government that it has planned to leave the country or put its investment on sale after losing more than US$20 million for a little of ten consecutive years.

This news of Firestone reported closure has pondered many Liberians and foreign residents wondering why now, especially when the CDC-led government of George Manneh Weah is trying to stabilize the Liberian economy, and provide job opportunities to hundreds of jobless Liberians.

The company on Monday, said it would reduce its workforce by 13%, which is approximately 800 employees by early April and at the end of June 2019, and further envisaged that the mass layoff of employees would not be enough to improve the company’s weak financial position.

With this latest information on the proposed closure of the Company, many of its workforce are about now seeking the intervention of the Liberian government in order to abort the planned departure and sale of the company.

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About Cholo Brooks 13327 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.