China / Mass factory layoffs rise to 15-month high

Workers laid off due to factory shutdowns increased to a 15-month high of 141,000 in October, according to government statistics released yesterday.

Chinese Personnel Executive Association (CPEA) chief executive Lin Yu-min (林由敏) said retirement benefit inquiries have risen in recent weeks, indicating that more factories have shut down, resulting in mass layoffs.

Older workers who lose their jobs need to check the Labor Insurance Act to see if they are eligible to apply for retirement benefits, Lin said.

Choosen excerpts by Job Market Monitor from

via Mass factory layoffs rise to 15-month high in Oct. – The China Post.