Financially struggling Korean yard Daewoo Shipbuilding & Marine Engineering (DSME) will slash its workforce by 12,000 to 30,000 by 2019.
“We are planning to reduce the number of employees to a similar level to 2009 and 2010 when management efficiency was the highest,” DSME CEO Jung Sung-leep said at a press conference today.
Creditors have demanded DSME restructures following huge losses reported in the last 18 months.
As part of the slimming down of the firm, many overseas units are being offloaded, including Romania’s largest yard, DSME Mangalia.
Source: Splash 24/7
Source: Splash 24/7