Hyundai to cut production over crisis

06-01-2009

South Korean carmaker Hyundai is to cut the working week in its new Czech plant to four days from this or next week because of falling demand for its vehicles, the E15 daily reported Tuesday, quoting a union leader. Jiří Středula, head of the KOVO union, said managers and unions had agreed the measure would be in effect for three months and Hyundai staff would get part of their wages for the day off. The 1.1-billion-euro plant, which launched production in early November employs about 2,000 people.