Employees of Venezuela's state-run Petroleos de Venezuela (PDVSA) oil company began a "work slowdown" Monday, despite warnings of reprisals from government officials. 

High-level executives, managers, and other workers are demanding the resignation of five members of the board of directors recently appointed by President Hugo Chavez. They say the hires were politically-motivated so the president can tighten his grip on the profits of the oil giant. 

Last month, President Chavez fired PDVSA chief, Army General Guaicaipuro Lameda, and most of the firm's board of directors. 

Mr. Chavez named leftist economist Gaston Parra as PDVSA's president and the five loyalists as board members. This past Friday, top managers refused to work for four hours, also in protest. The president refuses to reconsider the appointments. 

As one of the world's leading producers of crude oil, Venezuela's economy is dependent on its oil exports. 

But company protesters have promised not to let the slowdown impact Venezuela's already fragile economy. 

Some information for this report provided by AP and Reuters.

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