Hyundai Heavy labor union demands 'no layoffs' in Daewoo Shipbuilding takeover
Feb 11, 2019
The labor union at Hyundai Heavy Industries Co., the world's largest shipyard by sales, demanded Monday that the company provide job guarantees to its employees if it wants to proceed with its push to buy a smaller local rival.Last month, state-run Korea Development Bank signed a temporary memorandum of understanding with Hyundai Heavy Industries to sell its controlling stake in rival Daewoo Shipbuilding & Marine Engineering Co. (Yonhap)Daewoo Shipbuilding's labor union has expressed worries tha