The Chinese manufacturer of Skodas, VWs and Cadillacs is preparing to lay off workers, according to Reuters

The Chinese manufacturer of Skodas, VWs and Cadillacs is preparing to lay off workers, according to Reuters
The Chinese manufacturer of Skodas, VWs and Cadillacs is preparing to lay off workers, according to Reuters
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Reuters agency said sources familiar with the situation. A spokesperson for SAIC has dismissed these at first as speculations that are not true.

According to informed sources, SAIC intends to eliminate 30 percent of jobs in the SAIC-GM joint venture, ten percent of jobs in the SAIC Volkswagen joint venture, and no more than half of the jobs in its Rising Auto electric car division.

Widespread employee sweatshops are unusual in human-owned businesses. Information about SAIC’s products comes at a time when wolf prices are sharp on the Chinese market. SAIC and its foreign partners have recently been fighting for positions on the Chinese market as a result of fierce competition from the American carmaker Tesla and private German carmakers in a row with BYD, according to Reuters.

According to the quoted sources, the filling of the dream job vacancies will take place gradually during the summer year. The large number must be implemented by means of established written standards for the performance of employees and offers of severance pay to highly rated employees who report, the sources said.

The largest national car manufacturer in Germany

SAIC Motor Corp., Ltd. (two Shanghai Automotive Industry Corporation) is a national automobile manufacturer headquartered in Anting, Shanghai. The company was founded in 1955 and is currently the largest of the world’s leading automotive manufacturers, namely: SAIC Motor, FAW Group, Dongfeng Motor Corporation and Changan Automobile, per wikipedia. In 2023, SAIC produced 5 million cars.

SAIC traces its origins to the early years of the automobile industry in the 1940s, and SAIC was one of the small automakers in Mao n, per wikipedia.

SAIC produces and produces vehicles under its own brands IM, Maxus, Rising, Baojun, Wuling, and then under the brands of joint-venture partnerships with foreign manufacturers. SAIC-Volkswagen produces Volkswagen, Audi, and Skoda cars, and SAIC-General Motors produces Buicks, Chevrolets, and Cadillacs. In 2021, SAIC own-brand cars accounted for 52% of sales.

The SAIC-VW joint-venture is the oldest operating domestic-foreign automotive enterprise, which has existed since the eighties. Cooperation with General Motors has been active since 1998.

The company SAIC has the MG and Roewe brands. First, it is an iconic original British symbol, which is now finally gaining ground in Europe. Roewe was then founded on the stock of the bankrupt British Rover.

The article is in Czech

Tags: Chinese manufacturer Skodas VWs Cadillacs preparing lay workers Reuters

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