Daewoo Shipbuilding to cut 1,300 jobs, sell assets
Aug 31, 2015
Troubled Daewoo Shipbuilding & Marine Engineering is set to undergo restructuring, including job cuts and assets selloff worth 400 billion won ($338 million), as it battles to cope with mounting losses and lack of orders.“The company’s reorganization will be carried out on Sept. 1. With the slim-down, some high-level officials will resign due to overlapping duties,” a DSME official said Monday.The restructuring program will directly affect 1,300 jobs, including 30 percent of general managers and