Tuesday, October 10, 2000
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Daewoo to trim staff 

 
Daewoo Motors India Ltd (DMIL) has decided to trim its workforce by 15 per cent and reduce the number of Korean executives as a last resort to reduce costs and right-size the organisation, company managing director Young-Chang Kim said.Daewoo is simultaneously studying the impact of this exercise on the cost structure and trying to minimise the hike in prices of its popular small car matiz, Mr Kim said on Monday. The workforce reduction is part of a internal restructuring exercise with a view to improve the profitability of the project. He, however, refused to divulge the projected figures for trimming workforce.

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