China based Haier, maker of appliances and consumer electronics, started 2013 with 86,000 employees worldwide, but that number is likely to be about 60,000 by the end of 2014.
Most of those layoffs have already happened. The company laid off 16,000 workers in 2013, and by the end of May 2014 the number was at 64,955. The company said it plans to lay off a total of 10,000 employees in 2014.
Hair said that, even with the firings, per capita labor productivity increased 35% in 2013 and grwth in productivity remains strong in 2014.
Website Chinatopix, reporting on the downsizing, said Chinese industry watchers don't believe productivity improvements drove the large number of layoffs. One industry analyst told the website that Haier is seeing decreases in its market share, particularly sales of washers, refrigerators, air-conditioners, and TVs.
to Daily News