Susan Walsh/AP
- Reuters interviews with dozens of business owners across Iran show hundreds of companies have suspended production and thousands of workers are being laid off because of a hostile business climate mainly caused by new U.S. sanctions.
- The Iranian rial has fallen to record lows and economic activity has slowed dramatically since U.S. President Donald Trump withdrew from the big powers’ nuclear deal with Tehran in May.
- Unemployment is already running at 12.1 percent, with three million Iranians unable to find jobs.
- A parliamentary report in September warned that rising unemployment could threaten the stability of the Islamic Republic.
LONDON (Reuters) – Tamnoush, an Iranian company that makes fizzy drinks, has shut down its production line after 16 years and laid off dozens of workers. It was facing massive losses as U.S. sanctions pushed up the price of imported raw materials.
“All our 45 workers are jobless now. The men are driving taxis and women are back to being housewives,” said CEO Farzad Rashidi.See the rest of the story at Business Insider
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