Hyundai plans manpower cuts

Hyundai plans manpower cuts

SEOUL (AFP): South Korea's largest auto manufacturer, Hyundai
Motor Co., plans to reduce its labor force by 5,000 workers by
the year 2000, press reports said yesterday.

The cuts, designed to trim the company payroll from 45,000 to
40,000, will be made across the board, affecting production line
workers, clerical positions and managerial staff, Yonhap News
Agency said.

Special projects teams would also be trimmed, it said.

Yonhap quoted company sources as saying the plan was drawn up
following an in-house study that showed the company could not
remain competitive in the next century if it held its current
staff levels and organizational structure.

The agency said that with Hyundai's position as a trend-setter
in South Korea's auto industry, the country's other car makers
could be expected to follow suit.