Sany Denies Report It Will Cut 30% Of Workers, Says It Will "Control" Staff Increase

Sany Heavy Industry, one of China’s largest construction equipment makers, in a statement Wednesday evening denied a newspaper report earlier in the day that it plans to slash 30% of its staff amid slack industry conditions.  However, the company, whose chairman Liang Wengen topped the 2011 Forbes China Rich List with wealth of  $9.3 billion, said it will “control the increase” in its number of employees.   Sany has “no need”  for large-scale staff cuts, the statement said.

http://www.forbes.com/sites/russellflannery/2012/07/04/sany-denies-report-it-will-cut-30-of-workers-says-it-will-control-staff-increase/