EP9 special: SGM's Sales Plunge Leads to Factory Closure
Update: 2024-06-01
Description
In a striking turn of events, SAIC General Motors (SGM), once a beacon of China's thriving automotive industry, now confronts a significant downturn. With sales plummeting by nearly 40%, the company is reportedly planning an extended break for its production line workers, potentially affecting all major production bases across China.
This extended leave, rumored to last 2 to 3 months, is not merely a high-temperature holiday, traditionally a respite for workers during the hottest months.Instead, it's a direct response to the rapid decline in SGM's vehicle sales.The move raises questions about the continuity of wages for production line employees during this period.
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