Hyundai Motor will cut overall production by at least 25% in the first quarter of this year, according to a union spokesman.
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“Working hours at all domestic plants except for the Ulsan No. 3 plant will be shortened to 16 hours a day (from 20 hours),” union spokesman Chang Kyu-ho told Dow Jones Newswires by phone.
The Ulsan No. 3 plant produces the i30 hatchback and the Avante compact car, which have been big contributors to the carmaker’s bottom-line, Dow Jones noted.
