In response to Chinese media reports that LG China is reducing staff on a large scale, a representative from LG China says the company has not renewed labor contracts with about 11% of its staff whose contracts have expired, but this is a normal human resource adjustment.<\/p>\n
Han Xue, public relations representative of LG China, has said LG's move is not a staff reduction and it is instead a human resource adjustment. Han says that since Nam K. Woo took over the positions of president and CEO of LG Electronics China, the company has launched a series of new strategies. In order to carry out these strategies, they have had to make some personnel adjustments by simplifying each of their functional departments.<\/p>\n
Statistics from LG's HR Department shows that the company has not renewed contracts with about 11% of the staff, but China media says that this rate is as high as 20% in some of their branches in China.<\/p>\n
LG's adjustment might be related to its unsatisfactory performance worldwide. The first quarter financial report of LG shows that the company suffered a net loss of US$131 million in the period, which was the worst since the fourth quarter of 2003.<\/p>\n
LG entered China market in 1993. Since then it has invested more than US$2 billion here.<\/p>\n","protected":false},"excerpt":{"rendered":"
In response to Chinese media reports that LG China is reducing staff on a large scale, a representative from LG China says the company has not renewed labor contracts with about 11% of its staff whose contracts have expired, but this is a normal human resource adjustment.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-1468","post","type-post","status-publish","format-standard","hentry","category-labor"],"acf":[],"yoast_head":"\n