Complicated labor laws prompt thousands to quit their jobs.(incentives to early retirement by employers in Venezuela in order to circumvent non cost-effective labour laws)(Brief Article)

CARACAS -- It was a strange site in recession-battered Venezuela: thousands of workers lining up for hours outside the offices of the country's largest phone company Cantv for a chance to give up their jobs.

Lured by generous severance payments, thousands of company employees tried to take advantage of a voluntary early retirement scheme. In fact, the plan may have been too successful.

The company - owned by US firm Verizon - had hoped to shed some 4,000 workers but reportedly got 7,000 applications, some 60%-65% of the payroll.

The early-retirement plan is part of ...

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