Costa Rica newspaper closesTo continue doing business the biggest Newspaper in Costa Rica “La Nacion” has laid off a total of 100 employees since yesterday and has closed several newspaper supplements that have been out on the streets for decades.

 

La Nacion newspaper is the biggest publication in Costa Rica and apparently the financial crisis has also hit them they have even laid of some of their senior journalists and removed the printed version of their college focused newspaper Vuelta en U. Today every employee is being called in a private meeting to let them know one by one what will be the changes on their responsibilities and jobs, in the case they still have one.

 

Although it has been demonstrated that Costa Rica has had even worst financial crisis in the past, companies in Costa Rica are taking extreme measures to avoid being affected. In Guanacaste I haven’t seen much movement about the matter, but it could also be because of the high season.

 

We will have to wait and see what happens to all those journalists out of jobs, it is really sad that professionals in Costa Rica that have such caliber and experience have to go through such bad times. I really hope that tourism and real estate in Costa Rica doesn’t get as bad as other industries, it would be very sad to see more people affected by the financial crisis in Costa Rica.

 

I have noticed though that most real estate agents in Costa Rica are getting by with renting properties since the banks last year hardly gave out home loans, but the industry itself has maintain good profits.