LG China Reduces Staff

July 2, 2007 | Print | Email Email | Comments | Category: Business





    In response to Chinese media reports that LG China is reducing staff, a representative from LG China says the company has not renewed labor contracts with about 11% of its staff whose contracts have expired, but this is a normal human resource adjustment.

    Han Xue, public relations representative of LG China, has said LG's move is not a staff reduction and it is instead a human resource adjustment. Han says that since Nam K. Woo took over the positions of president and CEO of LG Electronics China, the company has launched a series of new strategies. In order to carry out these strategies, they have had to make some personnel adjustments by simplifying each of their functional departments.

    Statistics from LG's HR Department shows that the company has not renewed contracts with about 11% of the staff, but China media says that this rate is as high as 20% in some of their branches in China.

    LG's adjustment might be related to its unsatisfactory performance worldwide. The first quarter financial report of LG shows that the company suffered a net loss of US$131 million in the period, which was the worst since the fourth quarter of 2003.

    LG entered China market in 1993. Since then it has invested more than US$2 billion here.

    Related Links:


    Recommend this page: 1 Star2 Stars3 Stars4 Stars5 Stars

    Loading ... Loading ...
    Related News:
  • UTStarcom Reduces Staff To Save Costs
  • Dell China To Reduce Staff
  • BenQ Says Farewell To Beijing Staff
  • NetEase Receives SEC "Wells Notice"
  • BenQ To Reduce 40% Staff In Shanghai
  • Chinese Ministries Release Base Station Environmental Test Measure
  • Beijing Netcom Reduces Charge For 2M Broadband
  • Baidu.com Leaves Staff Searching For Jobs
  • Motorola China Continues Cutting Jobs
  • Hon Hai To Cut 20,000 Staff Globally



    • Leave A Comment:



    Inside ChinaTechNews.com


      Other China News

      China Sourcing News:

      Home Building Chain Closes Another Store In China

      American Internet Retailer Adds Courier Fees In China

      French Optics Company Announces Two China Investment Deals

      Increasing Manufacturing Costs Cause Trouble For Chinese Retailer
      TechSecurityChina.com:

      Inspur International To Sell Chinese E-government Business

      Shareholder Disputes Settled For Chinese Media Firm

      Qihoo 360′s Safebox Software Will Integrate With Uuu9.com

      Apple Suspends iPhone 4S Sales In Retail Stores In China
      ChinaWirelessNews.com:

      ZTE Launches First Tablet In America

      Apple Adopts New iPhone Sales System In Hong Kong

      China Telecom To Launch CDMA-based iPhone 4S

      China Mobile's Call Center In Luoyang Formally Launched

      Visit these other China sites: ChinaRetailNews.com | GreenChinaTech.com | ChinaWirelessNews.com | TechSecurityChina.com | China Sourcing News | China CSR