May 2 General Motors Co said on Tuesday
it has ceased operations at its Venezuela plant and will take up
to a $100 million charge after a judge ordered the seizure of
its plant last month.
The largest U.S. automaker said it is deconsolidating its
business in Venezuela. The decision follows the seizure of GM's
Valencia plant in Venezuela on April 18 by judicial authorities,
which led the automaker to fire 2,700 workers. The GM plant had
not produced a car since the beginning of 2016 because of parts
shortages and strict currency controls.
GM said executives have expressed a willingness "to talk
with government officials and union leaders about the
circumstances under which it could be possible to start
production and employ some number of workers with a new, viable
(Reporting by David Shepardson; Editing by Chizu Nomiyama and