SEOUL -- Hyundai Motor is considering making cuts to production in China and offering employees early retirement in a bid to lower costs as the world's biggest market for car sales reverses into decline after a 28-year growth run.
South Korea's top automaker, which on Thursday announced its first quarterly net loss since 2011 as a result of the Chinese slowdown, said it planned to reduce manufacturing in China to improve efficiency at its factories. Hyundai runs four factories in China -- three in Beijing and one in Hebei -- employing 16,000 employees. Caixin, the Chinese news outlet, reported that the company was seeking some 1,500 job cuts.
