Hyundai Heavy Industries (HHI) will be decreasing its organization by 20% consolidating business units and departments to deal with the COVID-19 market conditions.
The company stated that they are trying to improve the efficiency of the organization in response to the external and internal challenges created by the coronavirus pandemic.
Specifically, HHI will integrate its shipbuilding and marine operations divisions, which includes its offshore business, effective July 1. Similar departments in the two units will be consolidated and that combined with natural attrition the company believes will help it to reach the 20 percent reduction target.
