Hyundai Heavy Industries executives face the chopping block

Hyundai Heavy Industries executives face the chopping block

Hyundai Heavy Industries (HHI) plans to lay off a quarter of its senior executives, equivalent to around 60 senior employees, before the end of June, reports say.

The senior officials expected to leave the company in the coming weeks, a representative for the shipyard told press in South Korea.

“In the face of the worst ever situation of work shortage, we showed our strong will to do our best to survive by slashing the number of directors significantly,” the official said, according to reports from the Yonhap news agency.

HHI is expected to lay off up to 1,000 workers in total through voluntary retirement or attrition, as part of its ongoing restructuring plan.

Meanwhile, job prospects are looking a little better at the opposite end of the career ladder. HHI, Daewoo Shipbuilding & Marine Engineering (DSME) and Samsung Heavy Industries are reportedly looking to hire a combined 400 college graduates by the end of May.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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