3000 employees left the major Korean shipbuilders in Q3

South Korea's three largest shipyards are currently undergoing large-scale restructuring to survive the crisis in the industry. 3,000 employees have been forced to leave their positions at the yards in the third quarter alone, writes local media Korea Herald.

Photo: Falck Renewables

South Korea's three major shipbuilders – Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries – continue to slash their workforces as part of the efforts to salvage the yards which are struggling with an order drought brought on by the overcapacity in the shipping industry.

All three yards are in the midst of drastic rescue plans to survive the crisis and, according to media Korea Herald, 3,000 yard workers lost their jobs in the third quarter of this year alone.

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