Yangzijiang to slash another 2,000 from its payroll

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.

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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