Filed under: China, Plants/Manufacturing, Paris Motor Show
Ssangyong, which recently attended the
Paris Motor Show and showed off the
C200 4-wheel-drive, is officially out of money. The company is more than $77 billion (US) in debt, and no longer has the funds to pay its employees' salaries. Ssangyong is owned by Shanghai Automotive Industries China, otherwise known as SAIC. In what could provide a cautionary tale to Volvo workers assuming
Ford actually does a deal with SAIC for the Swedish brand, when Ssangyong asked SAIC for the money to pay employees, SAIC refused because Ssangyong's internal employee's union had earlier called for Chinese executives to resign. In the meantime, Ssangyong has merged operations and shut down all of its plants and the employees have planned a protest to make their feelings known.
[Source:
Chosun]
Ssangyong says it's out of money, can't pay workers originally appeared on Autoblog on Mon, 22 Dec 2008 09:58:00 EST. Please see our terms for use of feeds.
Read |
Permalink |
Email this |
Comments
أكثر...
22-12-2008, 06:41 PM
