CEO Farzad Rashidi stated that all 45 of their workers are currently unemployed, with the male employees now working as taxi drivers and the female employees returning to their roles as housewives. Interviews conducted by Reuters with numerous business owners in Iran have revealed that hundreds of companies have halted production and thousands of workers have been laid off due to a challenging business environment primarily caused by new US sanctions. The Iranian rial has experienced significant depreciation and economic activity has significantly slowed down following US President Donald Trump's decision to withdraw from the nuclear deal with Tehran in May. In August, he implemented sanctions targeting the purchase of US dollars, gold trading, and the automotive industry. Iran's crucial oil and banking industries suffered a blow in November, resulting in a loss of around five billion rials ($120,000 at the official rate) in recent months. As a result, all activities have been suspended until the currency market stabilizes. Rashidi stated that it would be foolish to continue operating in such uncertain conditions. The country has already seen protests this year due to unemployment and high prices, and there are concerns that the economic crisis worsened by sanctions could lead to further unrest. Four days prior to being dismissed by parliament in August for not adequately protecting the job market from sanctions, labor minister Ali Rabiei warned that Iran would lose one million jobs by the end of the year due to US measures. Unemployment is currently at 12.1 percent, leaving three million Iranians jobless. A report from parliament in September cautioned that the increasing unemployment rate could jeopardize the stability of the Islamic Republic. The report indicated that if economic growth remains below 5 percent in the coming years, unemployment could rise to 26 percent. The International Monetary Fund has predicted that Iran's economy will shrink by 1.5 percent this year and 3.6 percent in 2019 because of declining oil revenues. Iran's vice president has expressed concern about the impact of sanctions on the country, highlighting the dangers of unemployment and reduced purchasing power. Eshaq Jahangiri emphasized the importance of job creation as a top priority to prevent productive firms from stagnating due to sanctions. However, business owners are facing challenges such as contradictory monetary policies, fluctuations in the foreign exchange market, rising prices for raw materials, and high-interest loans from banks, making it difficult for them to sustain their operations. As a result, many companies are struggling to pay wages or are being forced to lay off workers. For example, the Jolfakaran Aras Company, one of Iran's largest textile factories, is considering shutting down operations, putting hundreds of jobs at risk. The manager, who requested anonymity, stated that around 200 workers were laid off in August and the situation has worsened since then. There is a strong likelihood that the factory will close down. Ahmad Roosta, CEO of Takplast Nour, expressed optimism that a drought in Iran would benefit his newly established factory, which manufactures plastic pipes for agricultural use. Roosta informed Reuters that he would wait for one or two months, but would be forced to close down if the circumstances did not improve, as the farmers, who are the primary consumers of their products, could not afford them. The Iranian car industry has been impacted by sanctions, leading to the suspension of joint ventures with French and German companies. This has caused more than 300 auto parts makers to halt production, risking tens of thousands of jobs in the sector. The government's changing monetary policies have also contributed to problems in the industry, with the production growth not meeting planned targets. Youth unemployment in Iran is a significant issue, with economic pressures from Washington primarily targeting the government and its proxies, rather than the Iranian people. However, young Iranians are the ones most affected by the high unemployment rates. Maryam, a public relations manager at a food import company, recently lost her job due to a decrease in customers and halted imports. The remaining employees fear the company may shut down after selling off its inventory. In a country where 60 percent of the 80 million population is under 30, youth unemployment is at 25 percent. Official data shows that in some parts of the country, the unemployment rate among young people with higher education is over 50 percent. Armin, 29, who holds a degree in mechanical engineering, lost his job in the housebuilding industry due to the recession caused by the fall of the rial. He stated that the property market is slowing down because high prices have made houses unaffordable, and the situation is deteriorating day by day. Armin shared this information with Reuters from the city of Rasht in northern Iran. Nima, a legal advisor specializing in startups and computer firms, believes that sanctions have impacted many companies in the industry that relied on exports and had plans for regional expansion. He mentioned that even the gaming industry in Iran has been affected by the sanctions, leading to some development teams pausing their work due to limited access to international markets. Saeed Laylaz, an economist based in Tehran, expressed a more optimistic view, attributing youth unemployment to Iran's demographics and government policies, with sanctions exacerbating existing issues. Despite the challenges posed by sanctions and economic uncertainties, Laylaz predicted that the market would eventually stabilize. Laylaz, who recently met with Rouhani along with other economists to provide guidance on economic policies, expressed confidence in overcoming the current round of sanctions, just as they have successfully done in the past.