South Korean shipbuilding giant STX is cutting 351 jobs in France through voluntary departures at the historic Saint-Nazaire shipyard, company officials said. The yard employs around 2,410 people and has received no new orders for civilian vessels since 2007.

STX France said it was cutting its capacity from 2.5 vessels per year
to 1.5 vessels for the coming years. Eric Breux, head of human
relations at STX France, said the plan “could be revised down if new
orders come in between now and the end of January.” STX earlier this
month said it would be forced to cut 400 jobs at its Turku shipyard in
western Finland next year because of the slump in orders. South
Korean-controlled STX Europe has said it expects a pick-up in orders as
the global economy recovers but in the third quarter it switched into a
net loss after posting a profit in the same period last year.

Source: AFP

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