Korean yards to cut 4,000 extra jobs

Industry sources claim big three shipbuilders will seek to reduce workforce further in 2017.

Over 4,000 additional job cuts are on their way at Korea's big three shipbuilders.

This is according to industry sources cited by the Yonhap news agency.

They said yards remain under pressure due to a lack of new orders.

DSME slashed 2,000 positions last year and will slice the same amount in 2017, the report said. Two hundred staff will go in offices starting this month, sources said.

This will leave it with 8,500 workers.

Samsung Heavy Industries is to cut 1,800 positions, following up on 1,500 redundancies in 2016.

Hyundai Heavy Industries is also expected to announce more job reductions.



Trouble by the yard

South Korea’s shipbuilding and shipping industries face the most challenging period in their history, as Irene Ang and Lucy Hine report

24 Nov 2016