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Firestone, the plantation giant, has announced annual losses of $ 20 million over more than 10 years.
This gives about $ 200 million for the more than 10 years of operational losses in Liberia.
Firestone officials made this disclosure when they hired Liberian government officials on March 19, 2019, regarding the company's plan to lay off some 800 employees in Liberia.
The decision to fire the employees, according to the company, was made necessary by the financial losses incurred over the 10-year period.
Liberian Minister of Information, Cultural Affairs and Tourism, Eugene Lenn Nagbe, said in a statement about the meeting between Firestone officials and the government: "In discussions, the government called for a negotiated settlement that will prevent or delay planned layoffs The government has proposed to work with Firestone to address concerns about its current business model. "
Firestone management has been informed by Firestone management that it has suffered losses of approximately $ 20 million per year over the past 10 years and that the situation could not continue.
— Daily guide
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