SHANGHAI — China's biggest steelmaker, Shanghai Baogang Group Co., plans to lay off 40,000 employees, responding to the nation's slowing economic growth. Baosteel has a workforce of 130,000 and plans to cut it by almost a third in three years. The city of Shanghai will suffer 226,000 total layoffs this year as the central government attempts to trim payrolls and eliminate unwanted stockpiles. Huang Qifan, director of Shanghai's economic commission, says in a published report that the city, ...
Premium Content (PAID Subscription Required)
"Shanghai steelmaker Baosteel to cut workforce" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.