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.

News ID: 68495

Date: 27 August 2016 - 10:39

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.