Korea's top 3 shipbuilders to cut over 4,000 jobs this year
Jan 12, 2017
The brutal job-cutting in South Korea's shipbuilding industry is expected to continue into this year, with the nation's three largest shipbuilders expected to slash more than 4,000 jobs, according to industry sources Thursday. South Korean shipbuilders have been under serious financial strain since the 2008 global economic crisis amid falling oil prices, which sent new orders tumbling amid a glut of vessels and stiffer competition from Chinese rivals.Daewoo Shipbuilding & Marine Engineering Co.,