Beijing Hyundai Faces Workforce Cuts
This is a China news story, published by Yahoo Finance, that relates primarily to Hyundai news.
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Beijing HyundaiGlobalData
•Hyundai reported to be planning mass lay-offs in China
69% Informative
Beijing Hyundai Company , the South Korean automaker’s main vehicle assembly joint venture in China , is planning to cut its workforce as it struggles with significant overcapacity in the country according to local reports.
At its peak in 2016 , before the political fallout between China and South Korea over the deployment of the US THAAD missile defence system, Hyundai sold over 1.6 million vehicles annually in China .
Recent restructuring reduced Hyundai 's production capacity to just over 1 million vehicles across three main plants, with two plants located in Beijing and Chongqing .
VR Score
65
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62
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27
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English
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64
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