Greater ChinaShipyards
Yangzijiang to slash another 2,000 from its payroll
China’s largest private shipbuilder will slash another 2,000 staff from its workforce this year, its executive chairman revealed today.
Ren Yuanlin, head of Yangzijiang Shipbuilding, speaking at a results briefing today, said that his workforce would be cut by 10% – from 20,000 to 18,000 – this year as the yard fights the protracted ship ordering downturn. Yangzijiang has already slashed its workforce by 20% in the past two years.
Yangzijiang, which operates four yards in Jiangsu province, has targeted $1.5bn in new orders this year.