By Park Ji-won
Hyundai Heavy Industries laid off 81 executives of 262 in its affiliates as part of its restructuring effort to overcome record losses.
It conducted a large reshuffle at Hyundai Heavy Industries, Hyundai Mipo Docyard and Hyundai Samho Heavy Industries.
"We rushed to finish the reshuffle in a short period to regain competitiveness through improving structural problems of human recourses," Hyundai Heavy Industries said in a statement.
It took four days since the company asked its executives to offer resignation to find a breakthrough by cutting labor cost.
The company promoted the 31-year-old executive director Chung Ki-sun to vice president, the oldest son of its largest shareholder Chung Mong-joon, formal lawmaker.
Ha Gyung-jin, who served as CEO and senior executive vice president at Hyundai Samho Heavy Industries, was promoted to CEO and president of the company.
Moon Jong-bak, who served as CEO and senior executive vice president at Hyundai Oilbank, was also promoted to CEO and president of the company.
Hyundai Heavy Industries laid off 81 executives of 262 in its affiliates as part of its restructuring effort to overcome record losses.
It conducted a large reshuffle at Hyundai Heavy Industries, Hyundai Mipo Docyard and Hyundai Samho Heavy Industries.
"We rushed to finish the reshuffle in a short period to regain competitiveness through improving structural problems of human recourses," Hyundai Heavy Industries said in a statement.
It took four days since the company asked its executives to offer resignation to find a breakthrough by cutting labor cost.
The company promoted the 31-year-old executive director Chung Ki-sun to vice president, the oldest son of its largest shareholder Chung Mong-joon, formal lawmaker.
Ha Gyung-jin, who served as CEO and senior executive vice president at Hyundai Samho Heavy Industries, was promoted to CEO and president of the company.
Moon Jong-bak, who served as CEO and senior executive vice president at Hyundai Oilbank, was also promoted to CEO and president of the company.
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