Hyundai to Cut 20% of Work Force
<i> From Associated Press</i>
Hyundai Motors Co., South Korea’s largest auto maker, said Thursday it plans to lay off up to 20% of its 30,000 employees.
The company’s labor union responded immediately with a call for a large protest rally at the company Friday.
The Confederation of Trade Unions, a militant umbrella labor group in South Korea, threatened nationwide strikes against spreading mass layoffs.
“Layoffs have become inevitable because of sharp drops in our sales,” said Shin Dong-ho, a Hyundai spokesman.
