Answer to Question #221670 in Economics of Enterprise for Patrico

Question

Trek-Tyres, a manufacturer of rubber tyres for the motor car and heavy goods vehicles (HGV) industries has recorded a large loss of N$260 million in the past year owing to the global recession and Covid -19. As a result they are to close four factories as part of their multi-national downsizing. The closures will result in the loss of 7,000 jobs worldwide and will result in a reduction of operating costs of N$85 million for the company. As a Press Officer for the company, write a news release, in a maximum of 150 words, announcing this information to the media. (You may invent any additional details but they must be relevant to the subject of the question. Pay particular attention to content, style and layout of the news release. 

Answer 1

NEWS RELEASE

FOR LOSSES MADE

Trek-Tyre company has made a huge loss of n$260 million in the past year owing to the global recession and covid -19. This has forced the management to close four factories as part of their multi-national downsizing which will result to loss of 7,000 jobs worldwide and will result in a reduction of operating costs of n$85 million for the company.