The rehabilitation plan includes half of SsangYongs staff taking unpaid leave up to two years in a bid to avoid retrenchment. “This sort of a plan will reduce potential job cuts but will definitely bring down labour costs.
The cash-strapped carmaker is expected to invite tenders by next month and is likely to submit a restructuring programme by the first week of July. Ernst & Young Hanyoung has been appointed by the court to oversee the sale process
SsangYong Motor is expected to invite tenders by next month and is likely to submit a restructuring programme by the first week of July, with the consent of the employees union. The court-appointed auditor, Ernst & Young Hanyoung, will oversee the sale process, said the people.