UPDATE 1-BYD plans to cut sales staff by 70 pct -media

Newswire

(Adds initial layoff target provided by a BYD executive in 3rd paragraph) BEIJING, Aug 30 (Reuters) - BYD Co Ltd , a Chinese carmaker backed by U.S. billionaire Warren Buffett, plans to cut its sales force by about 70 percent, a Chinese website said on Tuesday, after the company reported a nearly 90 percent drop in first-half earnings. About 1,000 people in BYD's sales arm would be asked to resign initially, with the ultimate goal of cutting the headcount to 800, from ...

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