Reported 10 months ago
Japanese car brand Honda announced massive layoffs at its factory in China due to poor sales, leading to more voluntary resignations than expected due to generous severance packages. The decline in traditional car sales in the Chinese market, particularly for joint ventures like GAC Honda, has resulted in production line shutdowns and reduced work hours for employees. This shift in the automotive industry has led to the end of the 'Easy Money' era for workers.
Source: YAHOO