South Korea’s Samsung Heavy Industries (SHI) is looking to slash its workforce furhter and get employees to return part of their salaries, the country’s official newswire Yonhap is reporting.
Some 1,500 SHI staff were let go last year and the yard has plans to trim its workforce by a total of 5,000 by the end of next year as part of restructuring plans brought about by a slump in newbuild orders.
Nevertheless, business is finally picking up for SHI with the yard nailing $4.8bn of new deals in the first half, putting it on track to meet its 2017 sales goal of $6.5bn.