Ssangyong Cuts Down Amid Losses

South Korea's Ssangyong Motor is scaling back on both its workforce and the size of its products, in order to recoup some of its losses. The producer of SUVs and large sedans has revealed that it will be axing 10% of its workforce, as high fuel prices have impacted upon its sales. This equates to the loss of around 553 jobs, which union official Ji Seon-yeol blamed on the management of Chinese parent company Shanghai Automotive Industry Corp (SAIC) in a local press

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