STX workers strike against restructuring plans

STX workers strike against restructuring plans

Around 700 workers at STX Offshore & Shipbuilding have gone on indefinite strike in South Korea today, protesting restructuring plans.

The severe restructuring package recently proposed includes slashing labour costs by 75%.

Creditors have given STX and its workers until April 9 to agree to the package or face court receivership.

STX has been told it can continue to build ships so long as it slashes 40% of its workforce and focuses on product, chemical and LPG carriers. 

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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