Jiangxi Changhe Automobile Company laid off 75% of its employees and faced survival difficulties

According to people familiar with the matter, Jiangxi Changhe Automobile Company, which has nearly 6,000 employees and 42 years of car manufacturing history, is facing serious difficulties. The company plans to lay off 75% of its employees, and the remaining 25% of employees will be on standby with salary cuts. Jiangxi Changhe Automobile Company is affiliated with BAIC Group and the Jiangxi Provincial Government. Its production bases include Jingdezhen, Jiujiang, Hefei and other places. Its annual production capacity reaches 300,000 vehicles and 150,000 engines, and its cumulative sales of vehicles exceed 2.8 million units. The layoffs mean that nearly 5,000 people will lose their jobs, but state-owned enterprises are relatively conscientious and provide compensation to laid-off employees. Employees with 15 years of service can receive nearly 200,000 yuan in compensation.