It has been announced that three factories in Honduras, located in the north of the country, will close operations as a result of being unable to continue production with the high cost of electricity and the recent elimination of tax breaks for employers.
One factory, Ching Soon, which currently operates in Choloma, announced its impending relocation to Nicaragua. This decision alone will leave over 1,500 people without a job.
Another factory in Honduras, called leaving more people unemployed.
The representative of the Honduran Maquila Association (AHM – Asociación Hondureña de Maquiladores), Guillermo Matamoros, confirmed that at least one company operating in La Ceiba fired more than 400 employees before closing its facilities.
“In the textile industry there’s always the closure of some companies and the opening of others, to the point that Honduras is handling the same levels as it did in 2012,” according to Matamoros.