GAC Honda Lays Off 7% of Workforce

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Credit: Visual ChinaBEIJING, December 5 (TMTPOST) -- GAC Honda has dismissed 900 contract workers, more than 7% of the workforce, marking the first layoff since the inception of the joint-venture 25 years ago. Traditional automotive leader GAC Honda faces unprecedented competitive pressures in a market rapidly transitioning to New Energy Vehicles (NEVs). Japanese joint ventures in China, like Toyota’s