Losing Jobs
It has been found that approximately 3,000 employees left Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering in the third quarter of this year alone due to restructuring in the shipbuilding industry. The number is likely to increase with time as their restructuring is slated to continue for a while.
In Hyundai Heavy Industries, the number of employees declined from 26,299 to 23,700 or so between the second and third quarters. In the case of Samsung Heavy Industries, a total of 1,500 workers quit their jobs in the first half and the number dipped below 12,500 in the second quarter and decreased by about 100 in the following quarter.
In Daewoo Shipbuilding & Marine Engineering, 1,200 employees applied for voluntary retirement until the end of last month and their requests were accepted on November 1. The number of its employees is approximately 11,300 now and is likely to drop to 10,000 within a couple of months.
During the first three quarters of this year, more than 6,000 persons left the three companies. Their dehiring is likely to be ongoing during the rest of this year and next year with the three shipbuilders’ order backlogs shrinking.