The South Korean yard behemoth will cut up to 12,000 jobs between this year and next, the Korea Times newspaper quoted chief executive Jung Sung-leep as saying at a press conference at the company's headquarters in Seoul on Thursday.
The plan is to reduce the workforce from the current 42,000 to 30,000, the report continued.
"In 2014, we had 55,000 workers generating 16 trillion won in sales.
