South Korean yards will fire at least 4000 this year

The crisis for South Korean yards this year will mean firings of at least 4,000 employees, writes South Korean news media Yonhap. In 2016, several thousand employees will leave their posts.

by LOUISE VOGDRUP-SCHMIDT

The three major South Korean yards Hyundai Heavy Industries, Samsung Heavy Industries, and Daewoo Shipbuilding and Marine Engineering are about to implement massive layoffs as a consequence of the ongoing crisis in the South Korean yard industry.

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