Great Wall Motors (GWM) is one of China’s leading automakers, having sold more than 1.2 million vehicles worldwide last year.
Although the giant says it is not pulling out of Europe, it is eliminating all jobs on the old continent and its headquarters in Munich. He will manage the company from his home country.
Germany has already felt the consequences of this decision. “On Tuesday (May 28 – author), around 100 employees in Munich received layoff notices. As this is a plant closure, no severance payments are planned” – reports the daily “Frankfurter Allgemeine Zeitung”.
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China points to EU tariffs
The Great Wall Motors movement has another meaning. “GWM justifies the wave of layoffs with EU-planned import tariffs on Chinese electric cars.It may come into effect at the beginning of July,” reports “Frankfurter Allgemeine Zeitung.” The increase in tariffs, as the Chinese argue, will make it even more difficult to improve results.
“GWM’s corporate culture is considered highly controversial. Earlier this year, employees in Munich reported a ‘toxic work environment’, rude behavior and excessive control by management,” the German daily said.
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