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전체검색영역
Hyundai Heavy Industries moves to scale down dockyard workers
Collected
2016.05.20
Distributed
2016.05.27
Source
Go Direct
South Korea’s largest shipbuilder Hyundai Heavy Industries Co. striving to stave off insolvency announced that it will accept voluntary resignations from supervisorial-level staff on production lines and dockyards. The company has sought cooperation from the union. It is the first time the shipbuilder is attempting scale-down in industrial workers through voluntary arrangements. Over 2,100 who have worked for more than 20 years would be eligible.

“We expanded the voluntary early retirement program from office workers to production workers for equal opportunities and we promise full support in their rehiring, startup, and outsourcing after they leave the company,” said an official of the shipbuilder.

Hyundai Heavy Industries Group accepted voluntary resignations from managerial level office workers at its five units - Hyundai Heavy Industries, Hyundai Mipo Dockyard Co., Hyundai Samho Heavy Industries Co., Hyundai Materials and Service (HYMS) and Hyundai E&T Co. - from May 9 to 20. The group would throw in up to 40 months’ pay and subsidies in tuition fees for children to those leaving the company ahead of their retirement age. Eligible workers from production lines would receive the same perks for leaving early.

Amid prolonged slow business, the company has been shedding workforce and assets from late 2014. It replaced more than 60 percent of the executives and shaved their pay by 50 percent.

The new decision received strong protest from the union, accusing the management of breaking its promise not to force layoffs and dismissing dockyard workers that require high level of professional skills.

By Park Yong-beom

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]