In China, auto headlight manufacturer backs down after rebellion by young recruits
The Xingyu group, which had attempted to lay off 107 recently hired young graduates, faces a backlash that threatens its Hong Kong IPO.
Chinese car headlight manufacturer Xingyu is facing a controversy that jeopardizes its plan to list on the Hong Kong Stock Exchange, according to information reported by Le Monde.
According to the same source, the company had tried to dismiss 107 young graduates it had just recruited. This decision provoked a mobilization of these young employees, who opposed the group.
Faced with this challenge, Xingyu was forced to reconsider its position, as the case has grown to such an extent that it now threatens the company's listing schedule on the Hong Kong financial market, Le Monde said.
The case illustrates the growing tensions in the job market for young graduates in China, where large industrial companies are facing increased scrutiny of their human resource management practices, in an economic context marked by intense competition in the automotive sector.
Sources
- En Chine, la fronde de jeunes recrues fait plier un géant de l’industrie automobile — Le Monde — Une
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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