REFILE-INSIGHT-Job jitters mount as China's factories sputter ahead of Lunar New Year [Reuters]
A.P MOLLER-MRS UNS/ADR (AMKBY)
NASDAQ:AMEX Investor Relations:
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Company Research
Source: Reuters
Job jitters mount as China's factories sputter ahead of Lunar New Year DONGGUAN/HONG KONG (Reuters) - Wang Zhishen was thrilled when Danish shipper A.P. Moller-Maersk ( MAERSKb.CO ) gave him two months’ paid leave, relishing the chance to spend time with his wife and daughters in China’s remote northwestern Gansu province. But his euphoria over what he thought was an unexpected bonus quickly turned to despair when Maersk fired Wang on January 3, less than a month after he packed his bags in the southern Chinese manufacturing center of Dongguan. Wang said he was one of 2,000 workers laid off at the company’s Dongguan transport container factory which has been idle since early December, as the impact of a trade war between Washington and Beijing ripples through industries from logistics to autos and technology. “I was sure it was a holiday,” said Wang, 35, who said he worked as a painter at Maersk for nearly six years until he was sacked two weeks ago via China’s WeChat messaging serv
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- 2/21/24 - Sanford C. Bernstein