19 Oktober 2014

[191014.EN.SEA] Losses Induce Hyundai Heavy Shipbuilding to Cut Executive Suite 31pc

KOREA's Hyundai Heavy Industries Group recently said that it cut the number of executives at its three shipbuilding units by 31 per cent, Reuters reports.

A total of 81 of 262 executives at Hyundai Heavy Industries, Hyundai Samho Heavy Industries and Hyundai Mipo Dockyard faced redundancy, the group said in a statement.

The move came after the group's flagship shipbuilder Hyundai Heavy Industries suffered from a record quarterly operating loss in the second quarter.

Source : HKSG.

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