Sany Denies Report It Will Cut 30% Of Workers, Says It Will "Control" Staff Increase |
| July 04, 2012 | July 2012 Bond Updates |
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Sany Heavy Industry, one of China’s largest construction equipment makers, in a statement Wednesday evening denied a newspaper report earlier in the day that it plans to slash 30% of its staff amid slack industry conditions. However, the company, whose chairman Liang Wengen topped the 2011 Forbes China Rich List with wealth of $9.3 billion, said it will “control the increase” in its number of employees. Sany has “no need” for large-scale staff cuts, the statement said. |
| View more at: http://www.forbes.com/sites/russellflannery/2012/07/04/sany-denies-report-it-will-cut-30-of-workers-says-it-will-control-staff-increase/ |
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