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.