Successful co-operatives are a viable form of economic organization and the Viome story is another proof of this.
Staff at Viome had to confront an existential quandary. The owners of their parent company had gone bust and abandoned the site, in the second city of Thessaloniki. Their plant, which manufactured chemicals for the construction industry, would be shut. There would be immediate layoffs, and dozens of families would be plunged into poverty. And seeing as Greece is in the midst of the greatest economic depression ever seen in the EU, the workers’ chances of getting another job were close to nil.
So they decided to occupy their own plant and make a living out of it. Read the full article.