China's Largest Private Shipbuilder to Cut 2,000 Jobs in 2016

(Beijing) – China's largest private shipbuilder Yangzijiang Shipbuilding Holdings has laid off 6,000 workers last year and plans to cut another 2,000 jobs this year, amid dwindling profits as new orders have dried up, an internal company document seen by Caixin said.

The layoffs will trim 28 percent of the Singapore-listed shipbuilder's 28,000-strong workforce as of early 2015, sources close to the company told Caixin.