Yangzijiang to cut more workers
China’s privately-owned Yangzijiang Shipbuilding is planning further job cuts of 2,000 in the face of adversity, adding on to the 4,000 job cuts already executed this year, reports said.
According to MANA,In addition, 500 workers were asked to accept a reduction in their salaries and go on leave.The severe downturn in the shipbuilding industry, particularly in China, has triggered a wave of bankruptcy among shipyards over the last few years. In 2015, more than 20 Chinese shipbuilding enterprises of large to medium sizes have declared bankrupt.