Ssangyong has said that unionised workers at its Pyeongtaek plant have stopped work to protest against layoffs.

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Assembly lines at the Pyeongtaek plant were halted on Wednesday and it is unclear when operations will resume, Ssangyong said in a regulatory filing.


Ssangyong is pushing forward with an aggressive restructuring plan, including massive layoffs and asset sales, after coming under bankruptcy protection in February following a severe cash shortage.


Union workers have intermittently been on strike to protest the planned restructuring.


Ssangyong has said it will cut 2,646 jobs, or about 37% of its total workforce, as part of its new survival plan.

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On May 22, the Seoul Central District Court will hold its first meeting with creditors and shareholders of Ssangyong to discuss the company’s restructuring plan.

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